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 mentioned above affect financial development of a country,...

In this paper, we traced the survival status of 94,401 small businesses in 17 European emerging markets from 2007–2017 and empirically examined the determinants of their survival, focusing on institutional quality and financial development. We found that institutional quality and the level of...