This article investigates the role of political institutions and culture in creating an efficient financial … infrastructure for a country. It further delves into this relationship and addresses the question: do both types of institutions … literature that institutions matter for financial development. We show both these types of institutions – political institutions …

of institutions quality, to analyse their impact on Economic growth. This index was made up of two sub-indices namely … economic growth. Moreover, the impact of institutions on growth is more pronounces in high income countries, showing … institutions are also crucial for sustenance of growth. Among the two forms of institutions, the risk reducing technologies affect …

structure in human relationships, institutions reduce insecurity, transaction costs and increase people's motivation. In this … our understanding of the importance of institutions and their effect on the relationship between economic growth and …

themselves. It contends that forces of globalisation influence individual countries' economic and social institutions …