Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/26606
Authors: 
Hefeker, Carsten
Year of Publication: 
2009
Series/Report no.: 
CESifo working paper 2561
Abstract: 
The paper analyzes the relation between institutional quality, such as corruption, in a country and its monetary regime. It is shown that a credibly fixed exchange rate to a low inflation country, like a currency board, can reduce corruption and improve the fiscal system. A monetary union, however, has ambiguous effects. I find that there is convergence between countries with regard to the level of corruption.
Subjects: 
Exchange rate regime
monetary policy
fiscal policy
seigniorage
corruption
developing and transition countries
JEL: 
D72
E63
F33
Document Type: 
Working Paper

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