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Corruption and Economic Growth: Empirical Evidence from BRICS Nations

In: Studies in International Economics and Finance

Author

Listed:
  • Ashmita Kesar

    (Shri Mata Vaishno Devi University)

  • Pabitra Kumar Jena

    (Shri Mata Vaishno Devi University)

Abstract

The present study seeks to examine the impact of corruption, political stability, and trade openness on economic growth in BRICS during the period 2002–2018. It has been shown that political stability and trade openness appear to improve economic growth when the Augmented Solow Model is used as a theoretical framework and the Panel Autoregressive Distributed Lag Model (ARDL) is used as an empirical model. However, the inverted U-shaped relationship between corruption and economic growth is validated as corruption increases economic growth in the long run to a certain level. After that, it downbeats economic growth. This finding of the paper provides new insight into the relationship between corruption and economic growth. Finally, this study provided policy recommendations for reducing corruption and accelerating economic growth in the BRICS countries.

Suggested Citation

  • Ashmita Kesar & Pabitra Kumar Jena, 2022. "Corruption and Economic Growth: Empirical Evidence from BRICS Nations," India Studies in Business and Economics, in: Naoyuki Yoshino & Rajendra N. Paramanik & Anoop S. Kumar (ed.), Studies in International Economics and Finance, pages 183-202, Springer.
    • Handle: RePEc:spr:isbchp:978-981-16-7062-6_10
    DOI: 10.1007/978-981-16-7062-6_10
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    Cited by:

    1. Tasos Stylianou & Rakia Nasir & Muhammad Waqas, 2023. "Inclusive Human Development and Governance Nexus: Causality Analysis of Selected Asian Countries," Economies, MDPI, vol. 11(3), pages 1-14, March.

    More about this item

    Keywords

    Gross domestic product; Corruption; Political stability; Trade openness;
    All these keywords.

    JEL classification:

    • D73 - Microeconomics - - Analysis of Collective Decision-Making - - - Bureaucracy; Administrative Processes in Public Organizations; Corruption
    • F18 - International Economics - - Trade - - - Trade and Environment
    • F21 - International Economics - - International Factor Movements and International Business - - - International Investment; Long-Term Capital Movements
    • F59 - International Economics - - International Relations, National Security, and International Political Economy - - - Other

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