ANÁLISE DA INFLUÊNCIA DA LEI DE FALÊNCIAS E DA EFICIÊNCIA DO JUDICIÁRIO NO DESENVOLVIMENTO DO MERCADO DE CRÉDITO

The present paper analyses the influence of the judiciary and bankruptcy law in the credit market and in the economic growth in differents regions of the world. This paper also criticizes the current "Law and Finance" theory, mainly the papers of La Porta et al (1997,1998) and Levine et al (2000) that analyze this relation in the linear form, loosing importants results that could be explained by the general equilibrium theory with incomplete markets and default. To analyzes all sets of countries we will use the traditional model of least squares, however the quantilic regression will be used to analyze specific groups of countries.