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Law Enforcement Proxies Matter for the Law and Finance Nexus

Author

Listed:
  • Valentin Z. Toci

    (University of Prishtina, Fakulteti Ekonomik pn, Prishtina, 10000, Republic of Kosovo)

  • Iraj Hashi

    (Staffordshire University, Leek Road, Stoke on Trent, ST4 2DF, United Kingdom)

Abstract

The paper employs various measures of law enforcement to provide new evidence on the importance of legal institutions for different dimensions of financial development in transition economies. It offers a critical assessment of law enforcementmeasures employed in recent studies by showing that some proxies for law enforcement in the credit market may not be appropriate. Hence, care should be taken in how the quality of institutions is measured and the context which it represents. An original approach to measuring law enforcement in the credit market is developed by embodying the legal theory of dispute resolution and assessingthis approach by collecting primary data for Kosovo. The findings suggest that Kosovo compares well with countries in the region and other transition economies in terms of the enforcement of creditor rights.

Suggested Citation

  • Valentin Z. Toci & Iraj Hashi, 2013. "Law Enforcement Proxies Matter for the Law and Finance Nexus," International Journal of Finance & Banking Studies, Center for the Strategic Studies in Business and Finance, vol. 2(3), pages 57-75, July.
    • Handle: RePEc:rbs:ijfbss:v:2:y:2013:i:3:p:57-75
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    Cited by:

    1. Albulena Shala & Valentin Toçi & Arben Mustafa, 2022. "Macroeconomic, Structural, and Bank-specific Determinants of Non-performing Loans in Central and Eastern Europe," Journal of Economics / Ekonomicky casopis, Institute of Economic Research, Slovak Academy of Sciences, vol. 70(5), pages 411-429, May.

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