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Corporate and securities laws are seen to mitigate corporate fraud by 'manipulating the incentives of agents': presenting corporate agents with a probability of being caught and punished if they commit fraud. This article suggests that the same laws also affect corporate fraud in a significant...
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Corruption among central banks induces distorted policies by, first, increasing the inflation bias and, second … bankers with similar preferences, corruption might be tolerated as an instrument of bringing factual policies more in line …
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as rent extraction spending. Our results show that more government corruption leads to higher rent extraction spending …
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