Based on Kaufmann et al. (2004) and La Porta et al. (2004), Corruption is an index
measuring the exercise of public power for private gain in year 2000. This index
captures aspects ranging from the frequency of additional payments to get things done
to the effects of corruption on the business environment. The index ranges from − 2.5 to
2.5, with higher scores implying greater legal enforcement and better investor-
protection.