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Two faces of the same coin? A comparative, global approach to corruption and socioeconomic development

Author

Listed:
  • Kostas Rontos

    (University of Aegean)

  • Ioannis Vavouras

    (Panteion University of Social and Political Sciences)

  • Maria Teresa Ciommi

    (Universita Politecnica delle Marche)

  • Luca Salvati

    (Council for Agricultural Research and Economics (CREA)
    Czech Academy of Sciences)

Abstract

The present study investigates the economic, social and political dimensions of development worldwide focusing on the relationship between perceived corruption and income levels, human development, government effectiveness and quality of the political system. The empirical results of this study reveal that these aspects are partly correlated, and feedback relationships are important when assessing socioeconomic development in a comparative perspective. Specific combinations of these factors characterize stable clusters of countries with distinctive economic performances. Effective developmental strategies require measures aimed at boosting income, reducing corruption and stimulating human development and government effectiveness. Empirical results of our analysis also suggest that these strategies are sustainable in the long-run only when associated with institutional transformations, enhancing governance quality. With unstable democracy and ineffective government, socioeconomic development cannot be effectively achieved and maintained on a long-run basis, even under increasing levels of income and wealth. With corruption, wealth is a necessary but not sufficient condition for socioeconomic development.

Suggested Citation

  • Kostas Rontos & Ioannis Vavouras & Maria Teresa Ciommi & Luca Salvati, 2019. "Two faces of the same coin? A comparative, global approach to corruption and socioeconomic development," Quality & Quantity: International Journal of Methodology, Springer, vol. 53(4), pages 1875-1894, July.
    • Handle: RePEc:spr:qualqt:v:53:y:2019:i:4:d:10.1007_s11135-019-00846-0
    DOI: 10.1007/s11135-019-00846-0
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    References listed on IDEAS

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    1. Toke S. Aidt, 2009. "Corruption, institutions, and economic development," Oxford Review of Economic Policy, Oxford University Press and Oxford Review of Economic Policy Limited, vol. 25(2), pages 271-291, Summer.
    2. Daniel Lederman & Norman V. Loayza & Rodrigo R. Soares, 2005. "Accountability And Corruption: Political Institutions Matter," Economics and Politics, Wiley Blackwell, vol. 17(1), pages 1-35, March.
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    8. Lambsdorff,Johann Graf, 2007. "The Institutional Economics of Corruption and Reform," Cambridge Books, Cambridge University Press, number 9780521872751, October.
    9. Vito Tanzi, 1998. "Corruption Around the World: Causes, Consequences, Scope, and Cures," IMF Staff Papers, Palgrave Macmillan, vol. 45(4), pages 559-594, December.
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    11. Lalountas, Dionisios A. & Manolas, George A. & Vavouras, Ioannis S., 2011. "Corruption, globalization and development: How are these three phenomena related?," Journal of Policy Modeling, Elsevier, vol. 33(4), pages 636-648, July.
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    Cited by:

    1. George Petrakos & Kostas Rontos & Luca Salvati & Chara Vavoura & Ioannis Vavouras, 2024. "Income Inequality in the Over-Indebted Eurozone Countries and the Role of the Excessive Deficit Procedure," Open Economies Review, Springer, vol. 35(2), pages 301-322, April.
    2. Kostas Rontos & Maria-Eleni Syrmali & Luca Salvati & Ioannis Vavouras, 2024. "Competitiveness, corruption, and income inequalities: approaching the ‘Janus’ face of development with simultaneous equation modelling," Quality & Quantity: International Journal of Methodology, Springer, vol. 58(1), pages 343-364, February.
    3. Francesco Chelli & Mariateresa Ciommi & Francesca Mariani & Gloria Polinesi & Maria Cristina Recchioni & Giuseppe Ricciardo Lamonica & Luca Salvati, 2022. "A Story of Strengths and Weaknesses in Tertiary Education: Evaluating ‘Mobility’ and ‘Opportunities’ in OECD Countries with Composite Indicators," Sustainability, MDPI, vol. 14(24), pages 1-19, December.

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