Corrupt clubs and the convergence hypothesis
Empirical work in a cross-section framework demonstrates little or no support for absolute convergence in per capita GDP. I argue in this paper that “divergence in corruption”, defined as the tendency of corrupt countries to become more corrupt faster than less corrupt nations, is a neglected factor that also determines the speed of convergence. Using Transparency International (TI) corruption perceptions index, I estimate C-σ and C-γ coefficients for corrupt and less corrupt economies to explore the C-divergence in corruption rankings. The study concludes that corrupt countries are C-converging, forming a “corrupt club”.
Volume (Year): 11 (2008)
Issue (Month): 1 ()
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- Friedman, Milton, 1992. "Do Old Fallacies Ever Die?," Journal of Economic Literature, American Economic Association, vol. 30(4), pages 2129-32, December.
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