Corruption and Economic Growth: Empirical Evidence from BRICS Nations

Ashmita Kesar () and Pabitra Kumar Jena ()
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Ashmita Kesar: Shri Mata Vaishno Devi University
Pabitra Kumar Jena: Shri Mata Vaishno Devi University

A chapter in Studies in International Economics and Finance, 2022, pp 183-202 from Springer

Abstract: Abstract The present study seeks to examine the impact of corruption, political stability, and trade openness on economic growth in BRICS during the period 2002–2018. It has been shown that political stability and trade openness appear to improve economic growth when the Augmented Solow Model is used as a theoretical framework and the Panel Autoregressive Distributed Lag Model (ARDL) is used as an empirical model. However, the inverted U-shaped relationship between corruption and economic growth is validated as corruption increases economic growth in the long run to a certain level. After that, it downbeats economic growth. This finding of the paper provides new insight into the relationship between corruption and economic growth. Finally, this study provided policy recommendations for reducing corruption and accelerating economic growth in the BRICS countries.

Keywords: Gross domestic product; Corruption; Political stability; Trade openness (search for similar items in EconPapers)
JEL-codes: D73 F18 F21 F59 (search for similar items in EconPapers)
Date: 2022
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Persistent link: https://EconPapers.repec.org/RePEc:spr:isbchp:978-981-16-7062-6_10

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DOI: 10.1007/978-981-16-7062-6_10

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