BOSE, NILOY; MURSHID, ANTU PANINI; RATH, CHITRALEKHA - In: Journal of Money, Credit and Banking 46 (2014) 2-3, pp. 503-517
There is a consensus that stronger property rights advance financial development. We provide evidence that the reverse hypothesis is also true. We isolate the structural component in the finance–property rights relationship using an instrument for financial development (private credit) based...