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Does Financial Liberalization Increase Corruption?: Evidence From A Panel Analysis, Pranjal Sudhir Ghate
Does Financial Liberalization Increase Corruption?: Evidence From A Panel Analysis, Pranjal Sudhir Ghate
Senior Projects Spring 2018
This project investigates whether financial liberalization increases corruption on a global level. Arguments put forward by international institutions such as the World Bank and the IMF claim that financial globalization will reduce corruption. However, the experience of India suggests that opening up financial markets might have increased corruption. This project tests whether this experience is generalizable worldwide. I find evidence for the conjecture that financial liberalization increased corruption in a panel analysis using random effects and lagged independent variable.