This study investigates the impact of corruption on public and private investment in African countries as a way of exploring one channel through which corruption undermines growth. The empirical results indicate that corruption affects economic growth directly and through its impact on...

This study investigates the impact of corruption on public and private investment in African countries as a way of exploring one channel through which corruption undermines growth. The empirical results indicate that corruption affects economic growth directly and through its impact on...

We present a model of vertical product differentiation and exit where a domestic and a foreign firm face fixed setup costs and quality-dependent costs of production and compete in quality and price in the domestic market. Quality-dependent costs are quadratic in qualities, but independent of the...

We develop a simple theoretical model that analyzes the interaction between progressive taxation, effort and wealth creation. We show how progressive taxation, while not affecting the behavior of entrepreneurs with less profitable profit opportunities, leads entrepreneurs benefiting from good or...

This paper uses the Granger-causality technique to test Friedman's hypothesis that variability in monetary growth causes changes in velocity. Two models are constructed and tested. The first model uses aggregate money without distinction between the anticipated and unanticipated money growth....