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| Simplice A Asongu |
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| ''A Good Turn Deserves Another: Political Stability, Corruption and Corruption-Control'' |
| ( 2015, Vol. 35 No.4 ) |
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| We build on existing literature and contemporary challenges to African development to assess the role of political stability in fighting corruption and boosting corruption-control in 53 African countries for the period 1996-2010. We postulate that on the one hand, an atmosphere of political instability should increase the confidence of impunity owing to less corruption-control. On the other hand, in the absence such impunity from corruption, political instability further fuels corruption. Our findings validate both hypotheses. Hence, contrary to a stream of the literature, we establish causal evidence of a positive (negative) nexus between political stability/no violence and corruption-control (corruption). The empirical evidence is based on Generalized Method of Moments. The findings are robust to contemporary and non-contemporary quantile regressions. The political stability estimates are consistently significant with decreasing (increasing) magnitudes throughout the conditional distributions of corruption (corruption-control). In other words, the positive responsiveness of corruption-control to political stability is an increasing function of corruption-control while the negative responsiveness of corruption to political stability is a decreasing function of corruption. Simply put: a good turn deserves another. |
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| Keywords: Political Stability; Corruption; Corruption-Control; Africa |
JEL: O1 - Economic Development: General
O5 - Economywide Country Studies: General |
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| Manuscript Received : Aug 05 2015 | | Manuscript Accepted : Oct 02 2015 |
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