Costs of political corruption in Europe during the era of austerity

Swansea University
Bexhill-on-Sea, England
Economics
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Ended on 6/22/17
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About This Project

I am studying the mechanisms, origins and size of political corruption in Europe and how it affects (directly and indirectly) citizens' incomes. Because of the nature of the research, complex and expensive databases and surveys are required and thus I decided to turn to crowdfunding to help me finish it

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What is the context of this research?

A significant part of economics literature tries to understand and explain a fundamental proble: "Why some countries are poorer than others?". In this context, institutions are considered to be the fundamental cause of differences in economic outcomes (as supported by Nobel Laurate D. Acemoglu). Therefore a significant part of economics explores imperfections of formal and informal institutions. From these distortions, corruption is of the most harmful and the hardest to study due to its secretive nature. My doctoral research tries to answer the following questions: What determines corruption? Is it an exogenous force in a growth model? Is there a significant impact of corruption on income inequalities and GDP in European Countries over the past years?

What is the significance of this project?

Studying corruption in Europe and developped countries can enhance our understanding of the necessary reforms that could potentially make our political systems and governance more efficient. Having efficient institutions in developped countries will be an important milestone since these institutions can then be integrated in developping economies and failed states.

What are the goals of the project?

The goal is to acquire a database that will help me connect my theoretical model of corruption costs to empirical evidence from european countries. At the moment preliminary results have been produced. Using a Barro type model of endogenous growth and a system of three simultaneous equations, this research drew results suggesting that higher levels of corruption are associated with higher income inequalities under all specifications of the model. Moreover, the estimation confirms the bidirectional causality between corruption and income distribution. Lastly results suggest that in the European countries under examination corruption has a significant impact on GDP.

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ICRG is private database that includes high quality data for political institutions and corruption for countries across the globe. Getting access to this database will help me establish an empirical approach to estimate corruption's costs on income that I will then be able to connect to my theoretical model

Endorsed by

Excited about this project. The researcher was member of our Institute for 3 major projects and proved his capabilities. The proposed project could shed light on the mechanisms of corruption and its effects on European citizens.

Flag iconProject Timeline

My overall research results are expected to be finished by the 30th of September 2019. Until the end of 2017, after having access to the required data, I plan to finish the first draft publication with empirical results on the costs of corruption in European countries

Sep 30, 2016

Run simmulations

May 08, 2017

Project Launched

Jun 16, 2017

Acquire ICRG database

Dec 31, 2017

Prepare first draft of publication

Meet the Team

George Melios
George Melios

George Melios

My name is George Melios, I am from Greece doing my doctorate in Insitutional Economics at Swansea University in the UK. Prior to that I studied Economics at the University of Athens (Greece) and Gent university (Belgium) as well as Financial Economics (M.Sc.) at Cardiff Business School (UK). I have worked as an assistant financial analyst for Grant Thornton Greece S.A as well as in the European Council as an intern in the press office of the Greek Embassy. Additionally I have been a research collaborator with the Institute for the studies of local and entrepreneurial history of Greece and I am a member of the Welsh Institute of Social and Economic Research & Data as well as the Society of Institutional and Organisational Economics.


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