It is well known that there is a strong positive correlation between per capita incomes and the quality of governance across countries. Kaufmann and Kraay propose an empirical strategy that allows separation of this correlation into (1) a strong positive causal effect running from better...

This paper proposes and empirically validates four theories of why legal origin influences growth and welfare through finance. It is a natural extension of "Law and finance: why does legal origin matter?" by Thorsten Beck, Asli Demirgüç-Kunt and Ross Levine (2003). We find only partial support...

This paper proposes and empirically validates four theories of why legal origin influences growth and welfare through finance. It is a natural extension of “Law and finance: why does legal origin matter?” by Thorsten Beck, Asli Demirgüç-Kunt and Ross Levine (2003). We find only partial...

The relationship between per capita income and a number of pollution indicators has been found to display an inverted U-shaped or downward-sloping pattern. Corruption may affect this relationship in two distinct ways: by raising pollution at given income levels (direct effect) and by reducing...