This article investigates the effects of corruption on the performance of the manufacturing sector at the state level in India. We employ conviction rates of corruption-related cases as an instrument for the extent of corruption, address the underreporting problem, and examine the impact of...

We investigate whether corruption “greases the wheels” of bureaucracies and enhances economic performance. Specifically, we examine the interaction effect of corruption and regulation on the economic performance of manufacturing industries in India. Our estimation results show that the...

We examine the effect of threats to property rights on the economic performance of the manufacturing sector of Indian states. We construct indices of the threats from data on crime against property rights. Our estimation results show that not only threats to private property, but also threats to...

We examine the effects of the threats to property rights on the economic performance of the manufacturing sector in Indian states. We constructed indices of the threats using data on crime against property rights. In our analysis, we correct for the problem of underreporting of crimes in...

Cross shareholding that makes takeovers difficult is not necessarily harmful to shareholders due to initiative effects. As long as manager's private benefits are to some extent in line with shareholders' benefits, cross shareholding may benefit shareholders. Cross shareholding is more likely to...

The effects of product market competition on the growth rates of productivity of firms in the Indian manufacturing sector are examined for the decade since the economic reform in 1991. This study improves on the construction of variables that capture the extent of product market competition....