The Ali (2013, EB) findings on the nexuses among institutions, finance and investment could have an important influence … finance and institutions because they are less realistic to developing countries to which the resulting policy implications … substitution of institutions and finance in investment. Results under many baseline and augmented scenarios are not consistent with …

in terminating inefficient trade flows. This constitutes a new channel through which finance improves resource allocation …

also assessed, and results showed that land finance, local government bonds, and fiscal transfers from the central …