Corruption, inflation and growth |
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| Authors: | Keith Blackburn Jonathan Powell |
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| Affiliation: | aCentre for Growth and Business Cycles Research, Department of Economics, University of Manchester, United Kingdom |
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| Abstract: | ![]()
We present a model in which the embezzlement of tax revenues by public officials leads the government to rely more on seigniorage to finance its expenditures. This raises inflation which depresses investment and growth via a cash-in-advance constraint. |
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| Keywords: | JEL classification: D73 E6 H6 O42 |
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