The paper analyzes the relation between institutional quality, such as corruption, in a country and its monetary regime. It is shown that a credibly fixed exchange rate to a low inflation country, like a currency board, can reduce corruption and improve the fiscal system. A monetary union,...

Corruption is not a new phenomenon; we are living with it since the birth of government's institutions. Corruption has two dimensions; public sector corruption and private sector corruption. The public sector corruption means, "misuse of public office for private benefits". For cross country...

"Recent years have seen a remarkable expansion in economists' ability to measure corruption. This, in turn, has led to a new generation of well-identified, microeconomic studies. We review the evidence on corruption in developing countries in light of these recent advances, focusing on three...