Blackburn, Keith; Forgues-Puccio, Gonzalo F. - 2006
We study the effect of international financial integration on economic development when the quality of governance may … follows: (1) corruption is always bad for economic development, but its effect is worse if the economy is open than if it is … closed; (2) the incidence of corruption may, itself, be affected by both the development and openness of the economy; (3 …