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Legislative Inflation and Private Credit

Author

Listed:
  • Nicolae Stef
  • Jean-Loup Soula
  • Alexandre Pourchet

Abstract

This study investigates how legislative inflation relates to private credit at the national level. Using a panel data set of 33 countries covering 2004?2016, we confirm that government effectiveness moderates the relationship between enacting new central laws and domestic credit. In environments with more effective governments, legislative creation can lead to lending expansion. Consequently, banking systems seem to perceive severe changes to the national legislation as ongoing improvements to replace inefficient or obsolete laws. JEL Classification : G21, G28, K10

Suggested Citation

  • Nicolae Stef & Jean-Loup Soula & Alexandre Pourchet, 2022. "Legislative Inflation and Private Credit," Revue d'économie politique, Dalloz, vol. 132(6), pages 985-1012.
  • Handle: RePEc:cai:repdal:redp_326_0985
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    More about this item

    Keywords

    Private credit; Banks; Legislative inflation; New laws; Institutions;
    All these keywords.

    JEL classification:

    • G21 - Financial Economics - - Financial Institutions and Services - - - Banks; Other Depository Institutions; Micro Finance Institutions; Mortgages
    • G28 - Financial Economics - - Financial Institutions and Services - - - Government Policy and Regulation
    • K10 - Law and Economics - - Basic Areas of Law - - - General (Constitutional Law)

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