This study investigates the individual impact of credit information sharing and corruption as well as their interaction … reduce the negative effects of corruption on financial sector development, but PCR tends to be more effective, suggesting …, including the use of an alternative corruption indicator and sub-sample analysis. Finally, policy implications are discussed. …

In transition and developing countries, we observe rather high levels of corruption even if they have democratic … high corruption levels. Our model is based on the fact that corrupt officials have to pay an entry fee to get lucrative … positions. In a probabilistic voting model, we show that a lack of financial institutions can lead to more corruption as more …

In many developing countries, we observe rather high levels of corruption. This is surprising from a political economy … perspective, as the majority of people generally suffers from high corruption levels. We explain why citizens do not exert enough … political pressure to reduce corruption if financial institutions are missing. Our model is based on the fact that corrupt …

corruption, more foreign access to capital, and higher spending on education. Smaller equity premia are associated with greater …