Corruption and Growth in the Economic and Monetary Community of Central Africa (EMCCA): The Role of Democracy ()
ABSTRACT
The objective of this paper
is to analyze the role of democracy in the relationship between corruption and economic growth in EMCCA member
countries over the period 2002-2020. The results obtained from this study,
using the dynamic panel of the generalized method of moments (GMM), confirm the
“grain of sand in the economy’s wheels” hypothesis in the EMCCA countries.
Furthermore, taking into account the interactive influence of democracy in the
corruption-growth relationship reveals that democracy could reduce the negative
effects of corruption on economic growth. The results of the study suggest that
the promotion of democratic norms is crucial to limiting the level of
corruption and stimulating economic growth in the EMCCA sub-region.
Share and Cite:
Ngakosso, A. and Owonda, F. (2021) Corruption and Growth in the Economic and Monetary Community of Central Africa (EMCCA): The Role of Democracy.
Theoretical Economics Letters,
11, 858-870. doi:
10.4236/tel.2021.114054.
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