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In this paper, we investigate a neglected aspect of financial systems of many countries around the world: government … around the world. Second, such ownership is particularly significant in countries with low levels of per capita income …
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Recent research has documented large differences between countries in ownership concentration in publicly traded firms, in the breadth and depth of capital markets, in dividend policies, and in the access of firms to external finance. We suggest that there is a common element to the explanations...
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