Degryse, Hans; Lambert, Thomas; Schwienbacher, Armin - C.E.P.R. Discussion Papers - 2013
Initially, voting rights were limited to wealthy elites providing political support for stock markets. The franchise … covering 1830-1999 shows that tighter restrictions on the voting franchise induce a greater stock market development, whereas a … broader voting franchise is more conducive towards the banking sector, consistent with Perotti and von Thadden (2006). Our …