TABLE 7 : THE IMPACT OF INSTITUTIONAL REFORMS ON CORRUPTION
Dependent: GRAFTa
(1)
(2)
Infrastructure Rating
0.498** (2.8)
0.397* (1.81)
Soft Budget Constraint Index
-0.008 (-1.4)
-0.004 (-0.57)
Entry Barriers
0.628** (3.48)
0.51** (2.19)
Legal Effectiveness
-.0545** (3.17)
-0.44* (-2.07)
Bankruptcy Law Index
0.077 (0.68)
0.0852 (0.74)
Trade System Index
0.112 (1.25)
0.064 (0.59)
0.445** (6.54)
0.3754** (3.43)
Democratic Reform Index (1996) GDP per capita Observations R2
-0.00004 (-0.82) 19
19
0.938
0.942
T statistics for “H0: parameter = 0” in parentheses. ** indicates statistical significance at 95% level, * at 90%. a Graft is measured on a scale of –2.5 to 2.5 with higher values corresponding to lower corruption. To make the results more intuitive however we use the inverse of Graft