This 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.

This study aims to analyse the effect of corporate governance ratings on the stock values of publicly traded companies in the Corporate Governance Index (XKURY of Borsa Istanbul (BIST) operating in Turkey. In this context, the rating scores of the companies included in the Corporate Governance Index for the 2016-2020 periods were determined. In the study in which the Paired Dependent Sample t-Test was used as the research method, the differences in the shared values between the dates thirty days before and thirty days after the announcement of the ratings were examined. According to the results obtained, it was observed that there was a statistically significant effect on the stock values of companies that implemented corporate governance principles in 2016, 2017, and 2019, but no statistically significant effect was observed for these years due to the systematic risks that occurred at the macro level in 2018 and 2020.

The present study investigates the impact of the level of governance on long-run economic growth in the G7 and E7 economies from 2002 to 2023. Institutional variables such as rule of law, regulatory quality and accountability are incorporated into the neoclassical growth framework. The empirical study uses data from the World Bank and the IMF, with advanced panel data techniques including Pesaran’s (2007) CADF unit root test, Pedroni’s (1999) cointegration test and a panel vector error correction model (VECM). To ensure robustness of the analysis, both Augmented Mean Group (AMG) and Common Correlated Effects Mean Group (CCEMG) estimators are used. The results show that there is a stable long-run equilibrium relationship which exists between the governance and some measure of economic growth for both sets of economies. However, the G7 economies tend to adjust to this equilibrium nearly five times faster than the E7 economies. Rule of law and regulatory quality are consistently found to be important determinants of the level of economic growth while weak accountability also constrains performance, especially in emerging markets. These results indicate the important role played by the governance of an economy in this regard, especially in the case of advanced economies but point to the need for judicial independence and regulatory stability before a country can inaugurate a series of reforms and hope to derive a sustainable rate of growth.