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It is common knowledge that corruption is harmful to the economic development, mainly because it reduces the level of foreign investments. The aim of this paper is to find the determinant factors for the corruption phenomenon in Romania and to assess the effects that it has on economic growth. An econometric model was built to explain the influence of corruption on GDP annual growth rate and on the foreign direct investments in Romania. Corruption perception index, index of economic freedom, GDP growth rate, governance indicators, along with other socio-economic indicators were used in the analysis. |
