causal direction. Our estimation results suggest GDP growth has one cointegrating vector relationship with corruption, EU aid … from 1970 - 2013, taking into account structural breaks. To better reflect causality, corruption and trade are included as … inflows and trade in both the short and long runs. There is a long-run unidirectional causal relationship from EU aid inflows …

legal rules); the latter is measured by the rule of law, investors' risk and corruption indices. We discuss two … interconnected threshold hypotheses: (1) in countries where law and order is strong enough, democratization stimulates economic … growth, whereas in countries with poor law and order democratization undermines growth; (2) if democratization occurs under …

of which is the reduction of corruption. First tests concerning the economic effects of JA are carried out drawing on the … absence of corruption within the judiciary as well as data gathered by the U.S. State Department as proxies. On the basis of …