Recent studies have highlighted the adverse impact of corruption on economic performance. This paper advances the … hypothesis that corruption is largely a symptom of underlying weaknesses in public policies and institutions, a formulation that … provides deeper insights into economic performance than do measures of “perceived corruption.” The hypothesis is tested by …

Although economists have long studied the impact of bribery on firms' development, the debate continues as to whether … bribery ‘greases' or ‘sands' the growth of businesses. For this investigation, we acquired data from the Business Environment … bribery upon firms' development over a period of time. We found that bribing firms were more likely to bribe again three years …

relevant role of country-level development, institutions, and corruption. I find that out of a full set of ten different growth …, legal systems and property rights, and lower levels of corruption, firms face lower levels of financing constraints. I … provide novel empirical evidence that both firm- and country-level corruption hinder firms' access to financing …

Recent studies have highlighted the adverse impact of corruption on economic performance. This paper advances the … hypothesis that corruption is largely a symptom of underlying weaknesses in public policies and institutions, a formulation that … provides deeper insights into economic performance than do measures of perceived corruption. The hypothesis is tested by …