Does corruption throw sand into or grease the wheels of financial sector development?
Arusha Cooray and
Friedrich Schneider (friedrich.schneider@jku.at)
Public Choice, 2018, vol. 177, issue 1, No 6, 133 pages
Abstract:
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.
Keywords: Corruption; Financial sector; Panel data (search for similar items in EconPapers)
JEL-codes: O11 O16 (search for similar items in EconPapers)
Date: 2018
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Citations: View citations in EconPapers (34)
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Persistent link: https://EconPapers.repec.org/RePEc:kap:pubcho:v:177:y:2018:i:1:d:10.1007_s11127-018-0592-7
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DOI: 10.1007/s11127-018-0592-7
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