Search results

The purpose of this paper is to analyze the impact of corruption on trade.

The authors estimate gravity equations with the last econometric advances on a wide sample of countries and years using three different measures of corruption. Two of them belong to the so-called perception-based indexes and the third is derived from a structural model that takes into account the causes and indicators of corruption across countries.

A negative effect of corruption on trade appears with perceptions, but it is not widespread. However, the authors find sensible evidence of the “grease the wheels” view with the structural index if low and middle income countries are implicated. Additionally, when using this measure, differences in corruption levels negatively impact trade. Both results are in line with expectations.

Moreover, membership in regional trade agreements does not seem to significantly alter these results.

The paper investigates the effect of corruption on corporate investment efficiency around the world.

The sample includes 218,350 observations from 30,074 firms across 42 countries. The authors measure corruption based on the Corruption Perception Index (CPI) from Transparency International, Corruption Control Index (CCI) from the World Bank and Corruption Index from the International Country Risk Guide.

The authors find that corruption is negatively related to investment efficiency. The robustness checks with different measures of corporate investment and alternative regression approaches show consistent findings. Moreover, the authors also find that the effect of corruption is stronger (weaker) in strong (weak) shareholder protection countries.

The paper has two important contributions to the literature. First, it shows that corruption environment is also a determinant of corporate investment efficiency. Second, legal protection of shareholders can mitigate the negative effect of corruption on corporate investment efficiency.

本研究擬探討世界各地貪污腐敗對企業投資效率的影響。

研究樣本涵蓋42個國家，30,074間公司，218,350個觀察。測量貪污腐敗的方法乃基於國際透明組織的腐敗感知指數、世界銀行的腐敗控制指數和國際國家風險指南的貪污指數。

研究結果顯示、貪污與投資效率成負相關。以企業投資的各種測量方法、以及用其他的回歸分析方法來進行的強度檢驗，均顯示一致的結果。而且，我們亦發現，在對股東的保障較大的國家，貪污所帶來的影響也會較大；同樣地、對股東的保障較小的國家，貪污的影響也相應會較輕微。

本研究對文獻有兩個重要的貢獻。首先，研究證明了貪污腐敗的環境亦是企業投資效率的決定因素；其次，研究亦證明給股東的法律保護會減低貪污對企業投資效率所帶來的負面影響。

Governments may finance its expenditures through multiple resources; however, seigniorage and borrowing are commonly used. The authors think that in the presence of corruption, the use of public finance may result in inflationary effect that leads to higher level of inflation, which in turn affects the whole economy.

This paper investigates if the variation in corruption levels jointly with public finance means, seigniorage and borrowing, accounts for the variation in the level of inflation. This paper uses panel data of 72 countries through the period 1995-2011.

The author find that corruption jointly with public finance means, seigniorage and borrowing, increase the level of inflation. This finding can address the misuse of these public finance means where corruption is prevalent.

This paper captures the joint effect of corruption with two different means of public finance, seigniorage and borrowing, on the level of inflation within 72 countries through 1995-2011.

The aim of the study is to examine the effect of public attitude on petty corruption.

This is a survey study on customers of a licenses providing authority (N = 390) in Cairo, Egypt. The authors use Akers social learning theory of crime and deviance and take into consideration criticisms of it. The authors control for individual and organizational level determinants that are identified by scholars as influencing people's attitudes toward corruption and which could be known through the authority customers' experiences. Because the dependent variable is binary, whether a person paid a bribe during last transaction with this authority or not, the authors use binary logistic regression.

The findings indicate that people are more likely to engage in petty corruption when they see it as acceptable, have previous petty corruption experience and when they use a mediator. Also, of those who dealt with that civil service authority during and directly after the 25th of January Revolution (N = 161) 31% reported that they did not engage in petty corruption in comparison to previous years. They referred this to a change in attitude at the time.

The policy implications of the research are important. Social science theories could generate cultural and policy relevant solutions for petty corruption; however, they have not been taken full advantage of. Also, experience-based country-specific corruption survey studies are important input for an effective anti-corruption policy.

The economic and administrative conditions of countries normatively have an effect on the economy and level of market development. Moreover, it is of great importance for a healthy economy whether the public institutions and organizations are transparent and functioning in accordance with their purpose. The aim of this study is to show whether there is a relationship between transparency and market efficiency.

Correlation analysis has been conducted between prediction accuracy rates, which are obtained by seven different machine learning algorithms and Corruption Perception Index (CPI) levels.

It has been statistically shown that the indices of countries with low corruption levels are harder to predict, which, in turn, can be interpreted as having higher weak-form market efficiency. According to that, an intermediate negative correlation has been found between CPI scores and predictability levels of stock indices. Considering the findings, it can be interpreted that the markets of countries with relatively more transparent and well-functioning public sector have more weak-form market efficiency.

The study can be extended with cutting-edge machine learning and deep learning techniques in future studies. There are very few studies which try to explain factors related to market efficiency. Thus, the authors claim that there is still room for further research in order to determine the factors related to market efficiency, implying that current literature is still far from explaining the causation behind the inefficiencies.

According to findings, the markets of countries with relatively more transparent and well-functioning public sector have more weak-form market efficiency. Based on these findings, in practice, it can be said that more successful predictions can be made using machine learning algorithms in countries with relatively lower CPI scores.

In literature, the factors related to market efficiency are still far from explaining the causation behind the inefficiencies. Thus, it has been investigated whether transparent and well-functioning public institutions and organizations have any relation with market efficiency.

The purpose of this paper is to examine the determinants and convergence of government effectiveness in African and Asian countries.

The study utilizes data from 100 countries in Africa and Asia from 2002 to 2018. The panel-corrected standard error regression is used for the regression analysis, while both beta-convergence and sigma-convergence among the countries are tested.

Both beta-convergence and sigma-convergence exist among African and Asian countries. Asia performs better than Africa across all indicators except for press freedom, and voice and accountability. Corruption perception index, government size, voice and accountability, regulatory quality and economic wealth have a significant positive effect on government effectiveness. Press freedom negatively impacts on government effectiveness, suggesting that freedom is necessary but not sufficient if there are political actors whose actions undermine freedom. Similarly, the political constraint index, as reflected by checks and balances are necessary but not sufficient to enhance government effectiveness, especially in Asia.

The results reveal that for press freedom and political checks and balances to enhance government effectiveness, there is a need for a different and holistic approach. The results are relevant for policymakers, public sector practitioners and academics.

This study utilizes a new dataset and is premier in exploring the convergence of government effectiveness among African and Asian countries.

Iraqi society has suffered from loss or fragility of human security since 2003. The developmental policies, programs and plans of the successive Iraqi Governments throughout the transitional period have not been able to achieve human security, despite the availability of different resources. They have also not prevented or limited the spread of corruption, according to domestic and international reports. Now the country faces a large phenomenon of corruption and the dilemma of human security loss. This study aims to ascertain the nature of the relationship between the phenomenon of corruption and the dilemma of loss or fragility of human security in Iraq since 2003 to learn about the form of this relationship, how the selected variables contribute to the two phenomena and determine the degree of impact of corruption and its dimensions on human security and its components.

This research uses the social survey methodology of the sample taken from the Iraqi society and benefits from system analysis approach to identify the inputs and outputs of the variables researched. Moreover, the study uses the case study methodology to collect data and information precisely in an in-depth manner to support qualitative and quantitative analysis and clarifies the situation at the macro level of both phenomena.

Findings show the prevalence of corruption structurally in the Iraqi state and society. The contribution of dimensions and selected indicators in the spread of corruption and lack of human security varies. Findings also underline a strong statistical correlation between the two variables and their reverse relationship. In other words, the more the corruption is, the less the opportunities of human security are. There is also a strong impact of corruption and its dimensions on the conditions of human security factors.

The paper provides profitable findings and recommendations, which can be used by the Iraqi relevant institutions to eliminate corruption, achieve human security and benefit from its indicators in research and development.

The new addition of this research can be represented by linking the two phenomena and trying to build national standards with the capacity to describe, interpret and predict.

The purpose of this paper is to measure the influence of corruption distance (CD) on foreign direct investment (FDI) with the characteristics of the value function from the Prospect Theory (PT) such as loss aversion and diminishing sensitivity.

Data are derived from Transparency International and the Organisation for Economic Co-operation and Development (OECD) and tested on the countries China, Germany, Italy, Japan, Korea, Russia, Spain and the UK and are analysed with a natural log (LN) regression model.

The findings indicate a negative asymmetric relationship for China, Germany, Korea, Spain and Russia. This means that negative performance on CD will not have greater impact on FDI outflows than positive performance on CD in the same country. Loss aversion, as well as diminishing sensitivity, as suggested by the PT, cannot be supported with the empirical results.

Its originality lies in contributing and extending knowledge on CD on FDI in several ways. First, it analyses the data of emerging and industrialized countries, namely, Russia, China, Germany, Italy, Japan, Korea, Spain and the UK. Second, a potential asymmetric impact is explained by the characteristics of the hypothetical value function of the PT. Third, it seeks empirical evidence by applying an econometric model developed to analyse the variables CD and FDI.

The aim of this study is to investigate how Nigeria can seek legal assistance on recovery of its stolen assets to reduce corruption and to ensure no sheltered havens for incomes from corruption.

The research adopts a conceptual method by using existing literature with the application of doctrinal legal research technique. The research likewise uses primary and secondary sources of legislations such as legislative provisions, case laws and the provisions of Chapter V of the United Nations Convention against Corruption and the process of asset recovery. The study compares the United Kingdom, USA, Hong Kong in China, South Africa and Nigeria proceeds of corruption recovery laws to gain basic legal features that would be beneficial to Nigeria in reforming its anti-corruption laws.

The principle of territorial sovereignty under the international law makes the offence of corruption not punishable outside the jurisdiction of the state where the offence was committed. As a result, some developed states boost their economy with these proceeds and the developing states are impoverished. There is also an allegation of discrepancies in the figures of funds recovered by the anti-corruption agencies. Thus, there is the need for transparency; law on civil forfeiture of proceeds of corruption; bilateral treaties; and mutual legal assistance on investigation, confiscation among countries for tracing and returning of proceeds of corruption.

The estimates of the volume of assets looted from Nigeria vary widely because of the complexity of collecting data on proceeds of corruption as official statistics on proceeds of corruption recovered do not exist as each anti-corruption agency occasionally makes pronouncements on the volume of assets recovered without any breakdown in terms of assets seized, nature of assets and their locations and its values. Such data would aid policymakers to measure the effectiveness of the present assets legislations and to enhance its effectiveness.

Considering the clandestine manners corruption is being committed, it is tasking to correctly evaluate the amount of money stolen so, their economic impacts on the nation’s economy.

Absence of accurate data would aid policymakers to measure the effectiveness of the present assets legislations and to enhance its effectiveness.

The study offers modules on management of proceeds of corruption by establishing “Assets Management Commission” and “Proceeds of Corruption Forfeiture Funds” for reparation of victims’ of corruption. The study suggests the necessity for civil forfeiture of proceeds of corruption, which is presently lacking, and creation of Proceeds of Corruption Recovery and Management Commission to manage such proceeds and advocate establishment of “Proceeds of Corruption Forfeiture Funds” for reparation of victims of corruption.

Recently the route connecting the trans-Korean railway and the trans-Siberian railway has become of particular interest for many academics and policy-makers in East Asian countries. The extensive review of previous studies, however, reveals that literature on the subject is lacking solid analytical framework. Most studies are one-sided, focusing on the political aspects of the issue or paying little attention to the economic aspects of the problem.

This study intends to develop an analytical framework through which the most efficient route among four major alternative routes connecting the trans-Korean and trans-Siberian railways can be identified. It attempts to assign priorities to the four alternative routes according to their level of economic efficiency.

This study utilizes a simple cost-benefit analysis in evaluating the four routes. Cost side, transportation time, effectiveness of customs procedures, and gauge difference are selected as the main economic factors. The volume of cargo, industrial production in adjacent regions, access to natural resources, and market size and foreign investment climate are used to evaluate the benefits of the routes.

The study concludes that Route 3, which connects ‘Busan - Seoul (South Korea) –Pyongyang -Sinuiju (North Korea) –Shenyang –Beijing - Erenhot (China) –Ulaanbaatar (Mongolia) –Ulan-Ude - Moscow (Russia)’ is the most efficient route.