We use the basic principal-agent-client (PAC) model of Aidt
(2003) to identify potential linkages between corruption and economic freedom.
Econometric analysis of this relation shows that corruption in GCC countries is positively associated with financial market development, and therefore confirms the view of many previous studies (see Leff 1964; Huntington 1968; Bardhan 1997; Egger, Winner 2005; Cuervo-Cazurra 2008; Aidt
2009) that corruption greases the wheel of financial development.
In addition, Hafner said, the company has launched equally rigorous structures and interiors programs--working with AIDT
to craft the training--that include 12-week courses followed by lengthy apprenticeships for non-certified positions.
While we do not consider regulatory quality an integral part of good governance, we include it in our analysis since it is relevant to the "grease the wheels" view of corruption, which argues that corruption can attract more FDI by compensating for poor governance and poorly designed regulations (Lien, 1986; Banerjee, 1997; Aidt
, 2003; Meon and Sekkat, 2005; Wang, 2009).
See Freeman, "Labor Regulations", supra note 27 at 32-34; Toke Aidt
& Zafiris Tzannatos, Unions and Collective Bargaining: Economic Effects in a Global Environment (Washington, DC: World Bank, 2002).
To put the present exercise in a broader context, most cross-national studies of the causes and effects of corrupt behavior employ aggregate macro-data (related reviews can be found in Aidt
, 2003; Lambsdorff, 2006; Pellegrini and Gerlagh, 2008; Serra, 2006; Svensson, 2005), while the relatively few country-level investigations employ somewhat more disaggregated data and are mostly focused on the United States (see De Rosa et al.
, Toke, y Zafiris Tzannatos, Unions and Collective Bargaining: Economic Effeds in a Global Environment, Washington, D.
There is a saying that corruption "greases the wheels of commerce," yet corruption has a negative impact on economic development in general and particularly on the entry of new enterprises (Wei, 2000; Aidt
Currently, short-term, non-credit training classes are being offered by instructors through AIDT
The vision of Alabama Governor Bob Riley, the RTP is a collaborative effort between the state of Alabama, Calhoun Community College, AIDT
, which is Alabama's workforce training agency, and robotics industry leaders," said Ed Castile, AIDT
Monopoly models of unions suggest that powerful trade unions will attempt to set aggregate wages at a level that is too high relative to overall productivity, raising equilibrium unemployment (for a survey, see Aidt
and Tzannatos 2002).
(1998) also focuses on the internalization of a negative externality with a tax.