By adopting an identification strategy of difference-in-difference estimation combined with propensity score matching …

seigniorage finance. This leads to an increase in inflation which, in turn, reduces capital accumulation and growth. At the … strategies. Our results are robust to a wide range of sensitivity tests. -- Corruption ; seigniorage ; inflation ; growth. … of the government's budget constraint, we find strong evidence to support these predictions under different estimation …

seigniorage finance. This leads to an increase in inflation which, in turn, reduces capital accumulation and growth. At the … of the government's budget constraint, we find strong evidence to support these predictions under different estimation …