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Institutions, Corruption and Sustainable Development

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  • Bertrand Venard

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    (Audencia Recherche - Audencia, Wharton Business School - University of Pennsylvania)

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    Abstract

    This paper aims to analyze the relationship between institutional quality, corruption level, and economic development. The methodology makes use of cross-national data developed by the World Bank on perceived levels of corruption, institutional framework quality and economic development to test various hypotheses. The added value of this paper is thus to investigate the impact of both institutional framework quality and corruption on economic development. A significant addition to the literature is made by using genuine wealth growth per capita as a proxy for economic development, rather than GDP growth per capita (Ehrlich, Lui, 1999). One other original contribution is the application of the rarely used PLS (Partial Least Squares) structural equation modelling to evaluate the proposed scheme. The empirical research supports the "sand in the wheel" school of thought in relation to the effects of corruption on economic development.

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    Bibliographic Info

    Paper provided by HAL in its series Post-Print with number hal-00874275.

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    Date of creation: 2013
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    Publication status: Published, Economics Bulletin, 2013, 33, 4, 2545-2562
    Handle: RePEc:hal:journl:hal-00874275

    Note: View the original document on HAL open archive server: http://hal-audencia.archives-ouvertes.fr/hal-00874275
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    1. Jakob Svensson, 2005. "Eight Questions about Corruption," Journal of Economic Perspectives, American Economic Association, vol. 19(3), pages 19-42, Summer.
    2. Pierre-Guillaume Méon & Khalid Sekkat, 2005. "Does corruption grease or sand the wheels of growth?," Public Choice, Springer, vol. 122(1), pages 69-97, January.
    3. Kaufmann, Daniel & Wei, Shang-Jin, 1999. "Does 'Grease Money' Speed Up the Wheels of Commerce?," MPRA Paper 8209, University Library of Munich, Germany.
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    8. Dasgupta, Partha, 2001. "Human Well-Being and the Natural Environment," OUP Catalogue, Oxford University Press, number 9780199247882.
    9. Mauro, Paolo, 1995. "Corruption and Growth," The Quarterly Journal of Economics, MIT Press, vol. 110(3), pages 681-712, August.
    10. Mo, Pak Hung, 2001. "Corruption and Economic Growth," Journal of Comparative Economics, Elsevier, vol. 29(1), pages 66-79, March.
    11. Wu, Shih-Ying, 2006. "Corruption and cross-border investment by multinational firms," Journal of Comparative Economics, Elsevier, vol. 34(4), pages 839-856, December.
    12. Flachaire, Emmanuel & García-Peñalosa, Cecilia & Konte, Maty, 2014. "Political versus economic institutions in the growth process," Journal of Comparative Economics, Elsevier, vol. 42(1), pages 212-229.
    13. Kenneth J. Arrow & Partha Dasgupta & Karl-Göran Mäler, 2003. "The genuine savings criterion and the value of population," Economic Theory, Springer, vol. 21(2), pages 217-225, 03.
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    15. Shang-Jin Wei, 2000. "How Taxing is Corruption on International Investors?," The Review of Economics and Statistics, MIT Press, vol. 82(1), pages 1-11, February.
    16. Cuervo-Cazurra, Alvaro, 2008. "Better the devil you don't know: Types of corruption and FDI in transition economies," Journal of International Management, Elsevier, vol. 14(1), pages 12-27, March.
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    22. Toke S. Aidt, 2003. "Economic analysis of corruption: a survey," Economic Journal, Royal Economic Society, vol. 113(491), pages F632-F652, November.
    23. Murphy, Kevin M & Shleifer, Andrei & Vishny, Robert W, 1993. "Why Is Rent-Seeking So Costly to Growth?," American Economic Review, American Economic Association, vol. 83(2), pages 409-14, May.
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    25. Kurer, Oskar, 1993. " Clientelism, Corruption, and the Allocation of Resources," Public Choice, Springer, vol. 77(2), pages 259-73, October.
    26. Kenneth Arrow & Partha Dasgupta & Lawrence Goulder & Gretchen Daily & Paul Ehrlich & Geoffrey Heal & Simon Levin & Karl-Göran Mäler & Stephen Schneider & David Starrett & Brian Walker, 2004. "Are We Consuming Too Much?," Journal of Economic Perspectives, American Economic Association, vol. 18(3), pages 147-172, Summer.
    27. TENENHAUS, Michel, 2008. "Component-based structural equation modelling," Les Cahiers de Recherche 887, HEC Paris.
    28. Mohsin Habib & Leon Zurawicki, 2002. "Corruption and Foreign Direct Investment," Journal of International Business Studies, Palgrave Macmillan, vol. 33(2), pages 291-307, June.
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