Abstract

The aim of the paper is to demonstrate that extreme wealth at country level is a consequence of corruption for a set of 42 countries over the period 2005–2018. A dynamic estimation (sys-GMM) is conducted, and different indices of corruption are used in order to obtain solid results. The data on extreme wealth is taken from Forbes annual listing of billionaires. The main findings are highly supportive of the idea that corruption fosters extreme wealth, acting as a greasing wheel that contributes to this unbalanced economic process. Therefore, billionaires face incentives to perform these types of acts which tend to perpetuate the corrupt system. However, legal mechanisms are also significant determinants of extreme wealth. Results also confirm that factors such as economic freedom and its components, as well as other economic and political variables, have positive effects on this wealth.

摘要

本文的目的是证明，在2005-2018年期间，一组国家中有42个国家的腐败是国家一级的极致财富的结果。进行动态估计（sys-GMM），并使用不同的损坏指数以获得可靠的结果。有关极端财富的数据取自《福布斯》（Forbes）年度亿万富翁名单。主要发现高度支持以下观点：腐败促进了极端财富的发展，而腐败推动了这一不平衡的经济进程。因此，亿万富翁面临执行这些行为的动机，而这些行为往往会使腐败制度永久化。但是，法律机制还是极致财富的重要决定因素。结果还证实，诸如经济自由及其组成部分，