Towards the Quest to Reduce Corruption in BRICS Nation: Is There a Synergy Between Corruption and Economic Growth?

This study scrutinizes the impact of corruption on the economic growth of five emerging countries, namely Brazil, Russia, India, China, and South Africa (BRICS), over the period 1996-2020. The study has employed panel quantile regression and the two-stage least square regression technique. Empirical results of the study confirm that control of corruption, population, political stability, and gross capital formation shows a positive impact on economic growth, whereas the impact of trade openness and government spending on economic growth is insignificant. Therefore, according to the current study, regulations must be strengthened to manage corruption better, i.e., there is a need to strengthen institutional apparatus in the study area, which will encourage economic development. Additionally, BRICS economies' officials need to pursue policies that will expand with more investment and, ultimately, investment spending, which will increase after corruption is effectively controlled. This proposition is in line with the Keynesian school of thought.