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An important reason for the disappointing effects of the financial reform programmes, as part of the structural adjustment programmes in sub-Saharan Africa, stems from the strong focus of the adjustment programmes on the formal banking sector. A financial reform programme which does not...
Persistent link: https://www.econbiz.de/10009213368
This article provides new empirical evidence for the relevance of the signalling view on debt maturity, using data from a private bank in Vietnam. More specifically, we test the empirical predictions of the two main signalling models on debt maturity, that is, the models by Flannery (1986) and...
Persistent link: https://www.econbiz.de/10009196100
This article argues that the impact of income on institutional quality depends on state capture, and that a rise in income contributes to institutional development only if the degree of state capture is low.
Persistent link: https://www.econbiz.de/10005468046