Financial And Legal Constraints To Firm Growth: The Case Of Italy
The aim of this study is to confirm empirically the implications of the theory about the law-financegrowth nexus. In order to verify the predictions of the theory, a panel data including three different types of data is used. All the data are referred to Italian provinces. The empirical analysis shows that between firmsï¿½ growth and financial development there is a first-order relationship, while between firmsï¿½ growth and legal enforcement as measured by the efficiency of the judicial system there is a second-order relationship.
Volume (Year): 3 (2008)
Issue (Month): 3(5)_Fall2008 ()
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