Publication:
Impacts of Corruption Control on Economic Growth in Relationship with Stock Market and Trade Openness
Impacts of Corruption Control on Economic Growth in Relationship with Stock Market and Trade Openness
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Date
2020
Authors
Van Thi Hong PHAM
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Research Projects
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Abstract
The study aims to investigate the dual effects of corruption control on economic growth in relationship with the stock market and trade
openness in developing countries. The study used difference S-GMM method on the dynamic panel data model in the period (2002-2017)
with data collected from the World Bank. The study discovers the dominant impacts of corruption control in the relationship with the stock
market on economic growth. At the same time, the study also confirms the overwhelming impact of corruption control in the relationship
between trade openness and economic growth in the developing countries. In addition, the study shows that inefficient stock markets in
developing countries will not promote economic growth. Meanwhile, the long-standing credit market has a positive impact on economic
growth. With the strong development of stock market and trade openness in the period (2002-2017), control on corruption in developing
countries does not get better in time with the increase in demand. The findings of this study suggest a number of solutions to strengthen
corruption control, leading to the increased efficiency on the stock market and as well as encouraging the positive effects of trade openness
to contribute to promoting economic growth in developing countries.
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Keywords
Developing Countries,
Economic Growth,
Corruption Control,
Stock Market Development,
Trade Openness