Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/19836
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dc.contributor.authorBlackburn, Keithen_US
dc.contributor.authorForgues-Puccio, Gonzalo F.en_US
dc.date.accessioned2009-01-28T16:07:54Z-
dc.date.available2009-01-28T16:07:54Z-
dc.date.issued2006en_US
dc.identifier.urihttp://hdl.handle.net/10419/19836-
dc.description.abstractWe study the effect of international financial integration on economic development when the quality of governance may be compromised by corruption. Our analysis is based on a dynamic generalequilibrium model of a small economy in which growth is driven bycapital accumulation and public policy is administered by government-appointed bureaucrats. Corruption may arise due to the opportunityfor bureaucrats to embezzle public funds, an opportunity that is mademore 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 thedevelopment and openness of the economy; (3) financial liberalisationis good for development when governance is good, but may be bad fordevelopment when governance is bad; and (4) corruption and povertymay co-exist as permanent, rather than just transitory, fixtures of aneconomy.en_US
dc.language.isoengen_US
dc.publisheren_US
dc.relation.ispartofseries|aProceedings of the German Development Economics Conference, Berlin 2006 / Verein für Socialpolitik, Research Committee Development Economics |x8en_US
dc.subject.jelD73en_US
dc.subject.jelO11en_US
dc.subject.jelF36en_US
dc.subject.ddc330en_US
dc.subject.keywordCorruptionen_US
dc.subject.keyworddevelopmenten_US
dc.subject.keywordfinancial liberalisationen_US
dc.titleFinancial Liberalisation, Bureaucratic Corruption and Economicen_US
dc.typeConference Paperen_US
dc.identifier.ppn517905574en_US
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungen-
dc.identifier.repecRePEc:zbw:gdec06:4731-

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