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dc.titleFrom Institutions to Financial Development and Growth: What Are the Links?
dc.contributor.authorFernández Martín, Andrés
dc.contributor.authorRud, Juan Pablo
dc.contributor.orgunitDepartment of Research and Chief Economist
dc.date.available2015-04-03T00:00:00
dc.date.issue2015-03-15T00:00:00
dc.description.abstractThis paper presents an integrated overview of the literature linking institutions, financial development and economic growth. From the large body of research on institutional development, the paper first selects those contributions that make it possible to study the role of institutional arrangements in ameliorating/worsening the information frictions and transaction costs that characterize the development of financial markets. The paper then investigates the theoretical mechanisms by which these specific frictions affect economic growth and presents the stock of empirical evidence quantifying the impact of institutions on growth through financial development.
dc.format.extent72
dc.identifier.doihttp://dx.doi.org/10.18235/0011689
dc.identifier.urlhttps://publications.iadb.org/publications/english/document/From-Institutions-to-Financial-Development-and-Growth-What-Are-the-Links.pdf
dc.language.isoen
dc.mediumAdobe PDF
dc.publisherInter-American Development Bank
dc.subjectFinancial Market
dc.subjectFinancial Policy
dc.subject.jelcodeG14 - Information and Market Efficiency • Event Studies • Insider Trading
dc.subject.jelcodeG28 - Government Policy and Regulation
dc.subject.jelcodeG38 - Government Policy and Regulation
dc.subject.jelcodeO16 - Financial Markets • Saving and Capital Investment • Corporate Finance and Governance
dc.subject.jelcodeO43 - Institutions and Growth
dc.subject.keywordsProperty rights;Contract enforcement;Institutions;Economic growth;Financial frictions;Financial development;Transaction costs
dc.typeWorking Papers
idb.identifier.pubnumberWorking Papers
idb.operationRG-K1098
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