Corruption and economic development in energy-rich economies
Date
2009
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Source Title
Comparative Economic Studies
Print ISSN
0888-7233
Electronic ISSN
1478-3320
Publisher
Palgrave Macmillan Ltd.
Volume
51
Issue
2
Pages
165 - 180
Language
English
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Abstract
We empirically model the causes of corruption and test the economic development-corruption link in energy-rich economies, using data from 48 countries with energy resources. The results indicate that energy abundance may not necessarily hurt economic development in energy-rich countries, allowing enterprises to conduct business more effectively to reduce corruption, establishing a better political (democratic) regime improves corruption rankings, and finally while corruption reduces both the level of GDP per capita and its growth rate, economic development decreases corruption.