The intriguing nexus between corruption and capital account restrictions
Autor: | Dreher, Axel, Siemers, Lars |
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Jazyk: | angličtina |
Rok vydání: | 2005 |
Předmět: |
Korruption
Economics corruption H26 CORRUPTION + BRIBERY (POLITICS) CAPITAL MARKET Dynamic panel dynamic panel ddc:330 F33 Kapitalverkehrspolitik KORRUPTION + BESTECHLICHKEIT (POLITIK) ECONOMIC MODELS KAPITALMARKT WIRTSCHAFTSMODELLE Corruption Capital account restrictions G11 C33 Kapitalbilanz D19 O17 capital account restrictions Schätzung |
Zdroj: | KOF Working Papers, 113 |
Popis: | The paper develops a theoretical model showing a mutual relationship between corruption and capital account restrictions. According to the model, higher corruption induces stricter restrictions and vice versa. We test the model using panel data for 112 countries over the period 1984-2002 and find that corruption and restrictions are indeed mutually determined. Estimating the model simultaneously, capital account restrictions induce higher corruption. Higher corruption, in turn, is associated with more restrictions on the capital account. The empirical relationship is, however, not completely robust. KOF Working Papers, 113 |
Databáze: | OpenAIRE |
Externí odkaz: |
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