Abstract

This paper fulfills a gap in the existing literature by analyzing the impact of government efficiency and corruption on the financial development of 31 OECD countries for the period 2002 to 2015 inclusively. To ensure robustness in our estimations, we employed several econometrics techniques, included control variables in our models, used several proxies for the variables under investigation, split the data into subgroups based on the degree of democracy, and repeated the analysis for these groups. Obtained findings provide strong evidence that government efficiency has a significant effect on financial development, and the sign of all the control variables are compatible with the a-priory theoretical expectations. The results of this study propose several policy recommendations to enhance financial development such as enhancing social cohesion through education on the use of tax contributions, revising budget procedures to ensure efficient spending of resources and to improve institutional quality, and reducing corruptive pursuits by targeting the informal economy activities and modifying the rule of law.

中文翻译：

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分析政府效率在经合组织国家金融发展中的作用

摘要

本文通过分析政府效率和腐败对OECD 31个国家在2002年至2015年期间的金融发展的影响，填补了现有文献中的空白。为了确保估计的稳健性，我们采用了多种计量经济学技术，在模型中包括了控制变量，对调查中的变量使用了多个代理，根据民主程度将数据划分为子组，并对这些组重复进行分析。获得的发现提供了有力的证据，表明政府效率对金融发展具有重大影响，并且所有控制变量的符号均与前期理论预期相符。