DOES FINANCIAL DEVELOPMENT REDUCE CORRUPTION?

John Thornton

No 9003, Working Papers from Bangor Business School, Prifysgol Bangor University (Cymru / Wales)

Abstract: I estimate the impact of bank cred it to the private sector on corruption using indicators of a country's legal origin as instrumental variables to assess causality. I find that bank credit reduces corruption, with the result robust to instrumenting for bank credit and for different controls.

Keywords: : Financial development; Corruption; Instrumental Variables (search for similar items in EconPapers)
JEL-codes: G20 O5 (search for similar items in EconPapers)
Date: 2009-12
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http://www.bangor.ac.uk/business/docs/BBSWP09003.pdf (application/pdf)

Related works:
Journal Article: Does financial development reduce corruption? (2012)
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Persistent link: https://EconPapers.repec.org/RePEc:bng:wpaper:09003

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