THE ECONOMIC COSTS OF CORRUPTION: DOES CORRUPTION REALLY AFFECT GDP PER CAPITA?
Hossain, Md. Delwar
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Corruption, being one of the most common characteristics of developing countries, has earned the subtle recognition of crippler to the economy. However, the co-existence of underdevelopment and corruption makes it important to establish causality. This paper tries to do so, under a cross country setting, based on data collected from the World Bank(WB) and Transparency international(TI) . Findings from Ordinary Least Square (OLS) regression suggest ‘corruption does lower GDP per capita, although the overall magnitude is moderate and varies from country to country.