Corruption Control, Financial Development, and Growth Volatility: Cross‐Country Evidence

نویسندگان

چکیده

We examine the effect of corruption control on volatility economic growth using cross-country data that cover 131 economies worldwide for period 1985–2018. To estimate model, we employ system generalized method-of-moments estimator dynamic panel data, which addresses potential endogeneity concerns internal instruments. Our results show significantly reduces volatility. This is robust to controlling other measures institutional quality. Moreover, find some evidence an indirect impact through its role in reinforcing volatility-dampening financial development.

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ژورنال

عنوان ژورنال: Journal of Money, Credit and Banking

سال: 2023

ISSN: ['1538-4616', '0022-2879']

DOI: https://doi.org/10.1111/jmcb.13051