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To clarify the causal links between financial activity and economic growth, three theoretical models are analyzed and a structural equation path models is estimated. In the modeling part, poverty traps result from large fixed costs or high proportions of real investment to run a financial...
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This paper attempts to analyse the relative roles of political institutions and interest groups in policy formulation and the relationship between economic growth and social development. The main conclusions of the study are that while there is excess intervention by government in the sphere of...
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We examine the impact of foreign corruption regulation on economic development in highcorruption-risk areas. We find … subject to the FCPA increases by 8%. Local perceptions of corruption also significantly decline. Consistent with the increase … activity increases by 37%. Overall, our findings suggest that anti-corruption regulation originating in developed countries is …
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