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Openness, Bureaucratic Corruption and Public Policy in an Endogenous Growth Model

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Author Info

  • Rangan Gupta

    ()
    (Department of Economics, University of Pretoria)

  • Emmanuel Ziramba

    ()
    (Department of Economics, University of South Africa)

Abstract

In this paper, we develop a dynamic general equilibrium overlapping generations monetary endogenous growth model of a financially repressed small open economy characterized by bureaucratic corruption, and, in turn, analyze optimal policy decisions of the government following an increase in the degree of corruption. As suggested in the empirical literature, we find that increases in the degree of corruption should ideally result in an increase in the ratio of seigniorage to total revenue, as an optimal response of the benevolent government. In addition, higher degrees of corruption are also found to be accompanied by higher levels of financial repression.

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Bibliographic Info

Paper provided by University of Pretoria, Department of Economics in its series Working Papers with number 200817.

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Length: 18 pages
Date of creation: Jun 2008
Date of revision:
Handle: RePEc:pre:wpaper:200817

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Keywords: Bureaucratic Corruption; Macroeconomic Policy; Openness;

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Cited by:
  1. Rangan Gupta & Cobus Vermeulen, 2010. "Private and Public Health Expenditures in an Endogenous Growth Model with Inflation Targeting," Working Papers, University of Pretoria, Department of Economics 201001, University of Pretoria, Department of Economics.

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