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Legal Institutions and Financial Development

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Author Info
Thorsten Beck
Ross Levine

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Abstract

Why do some countries have growth-enhancing financial systems, while others do not? Why have some countries developed the necessary investor protection laws and contract-enforcement mechanisms to support financial institutions and markets, while others have not? This paper reviews existing research on the role of legal institutions in shaping financial development.

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Paper provided by National Bureau of Economic Research, Inc in its series NBER Working Papers with number 10417.

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Date of creation: Apr 2004
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Handle: RePEc:nbr:nberwo:10417

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K2 - Law and Economics - - Regulation and Business Law

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  50. Beck, Thorsten & Demirguc-Kunt, Asli & Levine, Ross, 2003. "Law, endowments, and finance," Journal of Financial Economics, Elsevier, vol. 70(2), pages 137-181, November. [Downloadable!] (restricted)
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