Corruption,growth, and growth volatility |
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| Authors: | Ay?e Y Evrensel |
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| Institution: | 1. Department of Banking and Finance, Tamkang University, Taiwan;2. Department of Economics, Feng Chia University, Taiwan;3. Department of Economics, University of Nevada, Las Vegas, United States;4. Department of Finance, Overseas Chinese University, Taiwan;1. Department of Food and Resource Economics, Korea University, Republic of Korea;2. Department of Economics, SungKyunKwan University, Republic of Korea;3. Department of Finance and Banking, Aletheia University, Taiwan;1. University of Portsmouth, Economics and Finance Subject Group, Portsmouth Business School, Portland Street, Portsmouth PO1 3DE, United Kingdom;2. Webster Vienna Private University, Palais Wenkhaim, Praterstrasse 23, 1020 Vienna, Austria;3. Vienna University of Economics and Business, Department of Economics, Institute for International Economics, Welthandelsplatz 1, 1020 Vienna, Austria;4. Austrian Institute of Economic Research (WIFO), Arsenal, Objekt 20, A-1030 Vienna, Austria |
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| Abstract: | While the existing studies focus on the corruption–growth relationship, this paper introduces a new focus involving corruption and growth volatility. The Ehrlich–Lui (1999) framework provides the theoretical background of the paper, which produces testable hypotheses regarding the corruption–growth and the corruption–growth volatility relationship. The cross-section dataset that is used in the empirical analysis contains 121 developed and developing countries. In terms of the relationship between the governance-related variables and growth rates, only corruption control and government effectiveness significantly and adversely affect the average growth rate. Regarding the relationship between growth volatility and governance-related variables, the results suggest that higher corruption control, expropriation risk control, government effectiveness, and government consumption decrease growth volatility. |
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