How corruption affects persistent capital flows

被引：2

作者：

Johann Graf Lambsdorff

机构：

[1] Department of Economics, University of Passau

来源：

Economics of Governance | 2003年 / 4卷 / 3期

关键词：

Bureaucratic quality; Civil liberty; Domestic savings; Government stability; Investment; Law and order;

D O I：

10.1007/s10101-002-0060-0

中图分类号：

学科分类号：

摘要：

Corruption is known to reduce the ratio of investment to GDP. This study breaks down investment into domestic savings and net capital inflows. A significant impact of corruption exists only for the latter variable because the first variable is distorted by general equilibrium repercussions. An increase in Colombia's level of integrity to that of the United Kingdom is found to increase net annual capital inflows by 3 percent of GDP. Decomposing this impact reveals that bureaucratic quality, civil liberty and government stability are irrelevant, but that a country's law and order tradition is a crucial sub-component for attracting capital.

引用

页码：229 / 243

页数：14

共 23 条

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