Economic growth, business environment, and corruption: a Latin American perspective
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This study examines the interrelationships between economic growth, the business environment, and corruption in Latin America and the Caribbean. Data from 19 countries between 2010 and 2019 are used, combining GDP growth rates, the Doing Business Index, and the Corruption Perceptions Index. Correlation analyses and vector autoregressive multiple regression models are employed to assess the direct and reciprocal effects between variables, controlling for economic size. The results show that improvements in the business environment are associated with higher economic growth and greater transparency, while corruption persists as a structural constraint, despite regulatory advances. Economic growth has limited explanatory power; however, its interaction with institutional quality and business conditions significantly refines the understanding of development dynamics in the region. Countries with more favorable business environments tend to experience simultaneous improvements in growth and transparency. The findings underscore the importance of integrated policy approaches that simultaneously strengthen institutions, reduce corruption, and improve the regulatory environment to promote sustainable economic growth in Latin America and the Caribbean.
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