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seigniorage finance. This leads to an increase in inflation which, in turn, reduces capital accumulation and growth. At the …This paper presents an analysis of the effect of bureaucratic corruption on economic growth through a public finance …. Corruption takes the form of the embezzlement of public funds, the effect of which is to increase the government's reliance on …
Persistent link: https://www.econbiz.de/10013316495
strategies. Our results are robust to a wide range of sensitivity tests. -- Corruption ; seigniorage ; inflation ; growth. … seigniorage finance. This leads to an increase in inflation which, in turn, reduces capital accumulation and growth. At the …This paper presents an analysis of the effect of bureaucratic corruption on economic growth through a public finance …
Persistent link: https://www.econbiz.de/10003748210
private gain”. Even though the disruption of corruption causing weak growth and investment rates has long been examined, there … is little evidence regarding its impact on inflation. In this study, the nexus between corruption and inflation was … investigated for 20 countries over the period 1995–2015. Estimation results indicated that high corruption increased inflation …
Persistent link: https://www.econbiz.de/10011778653
Persistent link: https://www.econbiz.de/10003753590
To understand the weak empirical relationship between human capital and macroeconomic performance, this paper presents a model in which human capital is allocated to three activities: production, tax collection (bureaucracy), and public education. The effective tax rate is low in poor countries...
Persistent link: https://www.econbiz.de/10012139717
inflation-growth effect. We compare this economy to more standard models with respect to the effect of the money / credit … exchange technology. We find a markedly negative effect of inflation on economic growth using very standard calibration …This paper adds a credit services sector into a monetary endogenous growth economy in order to investigate the …
Persistent link: https://www.econbiz.de/10014140312
This paper formulates a dynamic Random Coefficient Model (RCM) to consider a set of popular determinants of public deficits in the EU-15 over the period 1971-2006, both at a country-specific level and from a population-wide perspective. Although the extent of government deficits and debt has...
Persistent link: https://www.econbiz.de/10003808131
Based on a panel data model this paper investigates whether the effects of fiscal policy on national saving in Europe have changed after the Maastricht Treaty came into force. Recently Giavazzi, Jappelli and Pagano (2000) found evidence that national saving responds nonlinearly to fiscal policy...
Persistent link: https://www.econbiz.de/10011474247
This paper explores the determinants of deviations of ex-post budget outcomes from first-release outcomes published towards the end of the year of budget implementation. The predictive content of the first-release outcomes is important, because these figures are an input for the next budget and...
Persistent link: https://www.econbiz.de/10011386471
This paper develops an arbitrage-free affine term structure model of potentially defaultable sovereign bonds to model a cross-section of eight euro area government bond yield curves since January 1999. The existence of a common monetary policy under European Monetary Union determines the short...
Persistent link: https://www.econbiz.de/10013118736