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Constitutions and Commitment: Evidence on the Relation Between Institutions and the Cost of Capital
Sussman, Nathan; Yafeh, Yishay - C.E.P.R. Discussion Papers - 2004
This Paper challenges the North and Weingast (1989) view that institutional reforms and better protection of property rights lead to economic growth through a reduction in interest rates, and that a mechanism of this type accounted for Britain’s ascendancy to economic supremacy. We show that,...
Persistent link: https://www.econbiz.de/10005124203
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Financial Frictions, Investment, and Institutions
Claessens, Stijn; Ueda, Kenichi; Yafeh, Yishay - C.E.P.R. Discussion Papers - 2010
, which reforms are best? We address this question by empirically investigating the effects of institutions on financial … frictions, institutions affect investment. We find that improved corporate governance (e.g., less severe informational problems …
Persistent link: https://www.econbiz.de/10008784722
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Trust, Growth and Well-Being: New Evidence and Policy Implications
Algan, Yann; Cahuc, Pierre - C.E.P.R. Discussion Papers - 2013
This survey reviews the recent research on trust, institutions and economic development. It discusses the various … institutions and policies can affect trust and promote pro-social behaviors. …
Persistent link: https://www.econbiz.de/10011084699