In this paper, I analyze how corruption in one country may be affected by its neighbors' corruption. It seeks to … explain why corruption is perpetuating in large geographical areas populated by developing countries despite anticorruption … efforts made in the single country. In our empirical approach, we capture the spatial dependency by regional corruption. Three …

In this study I explore the role of corruption in the cross-market time-varying linkage between sovereign bonds of … emerging markets and the US stock market. It shows that corruption plays a prominent role in the behaviour of comovement under …