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This paper examines whether political connections ease financial constraints faced by firms. Using firm-level data from six Central and Eastern European economies, the paper shows that politically connected firms: (i) have high levels of leverage, (ii) have low levels of profitability, (iii) are...
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Prior work on corruption has largely overlooked personal relationships as an essential determinant of bribery incidence … impact of personal relationships on bribery incidence in Vietnam, finding that relationships with central government … officials decreases the likelihood of bribery, while relationships with local government officials increases the likelihood of …
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State capture by industrial lobbyists is a significant obstacle to normal economic development of formerly command (socialist) economies, at both the local and the national levels. It is prevalent in transition economics because of an excessively concentrated industrial structure and low labour...
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