Does corruption throw sand into or grease the wheels of financial sector development?
Journal Publication ResearchOnline@JCUCooray, Arusha;Schneider, Friedrich
Abstract
This paper examines the relationship between corruption and financial sector development in 106 countries. Using dummy variables to capture different levels of corruption, and interaction terms to see if financial sector development depends on institutional structures, we find evidence to support the ‘sand the wheels’ hypothesis. The results suggest that a decline in corruption is associated with higher levels of financial sector development.
Journal
Public Choice
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Volume
177
ISBN/ISSN
1573-7101
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Pages Count
23
Location
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Publisher
Springer
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Date
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EISSN
N/A
DOI
10.1007/s11127-018-0592-7