Law and Firms' Access to Finance
This article examines how a country's legal origin influences the operation of its financial system by using firm-level survey data across a broad cross-section of countries on the obstacles that firms face in raising external finance. Using panel regressions, the article assesses two channels through which legal origin may influence the financial system. We find that the adaptability of a country's legal system is more important for explaining the obstacles that firms face in accessing external finance than the political independence of the judiciary. Copyright 2005, Oxford University Press.
Year of publication: |
2005
|
---|---|
Authors: | Beck, Thorsten ; Demirguc-Kunt, Asli |
Published in: |
American Law and Economics Review. - Oxford University Press. - Vol. 7.2005, 1, p. 211-252
|
Publisher: |
Oxford University Press |
Saved in:
Online Resource
Saved in favorites
Similar items by person
-
Financial Institutions and Markets Across Countries and Over Time : Data and Analysis
Beck, Thorsten, (2009)
-
Beck, Thorsten, (2008)
-
Banking Services For Everyone ? : Barriers To Bank Access And Use Around The World
Beck, Thorsten, (2006)
- More ...