Corruption Control as a Catalyst for Financial Development: A Global Comparative Study

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dc.contributor.authorKucukcolak, R. Ali
dc.contributor.authorBozkurt, Gözde
dc.contributor.authorİlter-Küçükçolak, Necla
dc.contributor.authorErtemel, Adnan Veysel
dc.contributor.authorKucukoglu, Sami
dc.date.accessioned2026-01-31T15:04:23Z
dc.date.available2026-01-31T15:04:23Z
dc.date.issued2025
dc.departmentİstanbul Beykent Üniversitesi
dc.description.abstractThis study investigates the impact of anti-corruption efforts on financial development across different economies, using G7 and E7 countries as comparative groups. Recognizing corruption as a barrier to economic growth, the research examines how effective corruption control can enhance the efficiency of the financial sector, foreign direct investment (FDI), and capital market development. The methodology includes panel cointegration tests—namely Pedroni, Kao, and Westerlund tests—alongside fully modified ordinary least squares (FMOLS) and dynamic ordinary least squares (DOLS) estimations to assess the long-term relationships between corruption control and financial development. The findings reveal a statistically significant cointegration relationship, suggesting that anti-corruption measures positively influence financial development in both G7 and E7 countries, albeit more strongly in E7 economies. Specifically, the Westerlund test results, which take cross-sectional dependencies into account, reinforce the robustness of the findings. The study underscores the importance of tailoring anti-corruption policies to each country’s unique economic framework, highlighting that while G7 countries benefit from advanced institutional structures, E7 countries experience more pronounced effects of corruption control on financial development and FDI. These insights contribute to the policy discourse on sustainable economic development by emphasizing the role of governance quality in fostering robust financial systems and attracting international investment. © 2025 by the authors.
dc.identifier.doi10.3390/jrfm18020079
dc.identifier.issn1911-8066
dc.identifier.issue2
dc.identifier.scopus2-s2.0-85218853968
dc.identifier.scopusqualityQ1
dc.identifier.urihttps://doi.org/10.3390/jrfm18020079
dc.identifier.urihttps://hdl.handle.net/20.500.12662/10528
dc.identifier.volume18
dc.indekslendigikaynakScopus
dc.language.isoen
dc.publisherMultidisciplinary Digital Publishing Institute (MDPI)
dc.relation.ispartofJournal of Risk and Financial Management
dc.relation.publicationcategoryMakale - Uluslararası Hakemli Dergi - Kurum Öğretim Elemanı
dc.rightsinfo:eu-repo/semantics/openAccess
dc.snmzKA_Scopus_20260128
dc.subjectcorruption control
dc.subjecteconomic growth
dc.subjectfinancial development
dc.subjectmarket regulations
dc.subjectpanel cointegration
dc.titleCorruption Control as a Catalyst for Financial Development: A Global Comparative Study
dc.typeArticle

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