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dc.contributor.authorBlackburn, Keithen_US
dc.contributor.authorForgues-Puccio, Gonzalo F.en_US
dc.date.accessioned2011-05-26T10:00:57Z-
dc.date.available2011-05-26T10:00:57Z-
dc.date.issued2008en_US
dc.identifier.urihttp://hdl.handle.net/10419/45675-
dc.description.abstractWe study the e├żect of international financial integration on economic development when the quality of governance may be compromised by corruption. Our analysis is based on a dynamic general equilibrium model of a small economy in which growth is driven by capital accumulation and public policy is administered by government appointed bureaucrats. Corruption may arise due to the opportunity for bureaucrats to embezzle public funds, an opportunity that is made more attractive by financial liberalisation which, at the same time, raises efficiency in capital production. Our main results may be summarised as follows: (1) corruption is always bad for economic development, but its effect is worse if the economy is open than if it is closed; (2) the incidence of corruption may, itself, be affected by both the development and openness of the economy; (3) financial liberalisation is good for development when governance is good, but may be bad for development when governance is bad; and (4) corruption and poverty may co-exist as permanent, rather than just transitory, fixtures of an economy.en_US
dc.language.isoengen_US
dc.publisherInst. for Advanced Development Studies La Pazen_US
dc.relation.ispartofseriesDevelopment Research Working Paper Series 2008/06en_US
dc.subject.jelD73en_US
dc.subject.jelF36en_US
dc.subject.jelO11en_US
dc.subject.ddc330en_US
dc.subject.keywordCorruptionen_US
dc.subject.keyworddevelopmenten_US
dc.subject.keywordfinancial liberalisationen_US
dc.subject.stwKapitalmarktliberalisierungen_US
dc.subject.stwEntwicklungen_US
dc.subject.stwKleines-Land-Modellen_US
dc.subject.stwGovernance-Ansatzen_US
dc.subject.stwKorruptionen_US
dc.subject.stwTheorieen_US
dc.titleFinancial liberalisation, bureaucratic corruption and economic developmenten_US
dc.typeWorking Paperen_US
dc.identifier.ppn578625857en_US
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen_US
Appears in Collections:Development Research Working Paper Series, Institute for Advanced Development Studies (INESAD)

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