Brückner, Markus - In: Journal of Risk and Financial Management 14 (2021) 10, pp. 1-14
I examine the relationship between democracy and the perceived risk of corruption in a panel of 130 countries. My panel … model controls for country fixed effects and enables the estimation of a within-country relationship between democracy and … corruption. My main finding is that democracy significantly reduces the risk of corruption, but only in countries where ethnic …