The authors use survey data on a sample of over 10,000 firms from 80 countries to assess (1) how successful a priori classifications are in distinguishing between financially constrained and unconstrained firms, and (2) more generally, the determinants of financing obstacles of firms. They find...

Legal institutions are critical for the development of market-based economies. This paper defines legal institutions and discusses different indicators to measure their quality and efficiency. It surveys a large historical and empirical literature showing the importance of legal institutions in...

Legal institutions are critical for the development of market-based economies. This paper defines legal institutions and discusses different indicators to measure their quality and efficiency. It surveys a large historical and empirical literature showing the importance of legal institutions in...