Control of Corruption and Luxury Goods Consumption
研究了2004至2014年间32个发达和新兴经济体中腐败控制对奢侈品消费的影响，发现更强的腐败控制会减少奢侈品支出，且这一关系在新闻自由和信息透明度更高的国家更为显著。
Summary This paper investigates the effect of control of corruption on the consumption of luxury goods, after controlling other relevant determinants of luxury spending. The model is empirically tested for 32 developed and emerging economies between 2004 and 2014. Using panel fixed effects, difference generalized method of moments (GMM) and instrumental variable estimation methods, and two measures of the control of corruption (Transparency International Corruption Perceptions Index and the World Bank's Control of Corruption Index), the results show that higher levels of control of corruption decrease luxury spending. This relationship is stronger in countries with higher levels of press freedom and information transparency. These findings offer some important implications. Governments and policymakers may develop and implement regulations that increase transparency in luxury gifting and limit corruption practices. Luxury brand companies should further enhance their due diligence obligations to minimise reputational risks in the long term.