Does democracy foster financial development? An empirical analysis

Benhua Yang

Economics Letters, 2011, vol. 112, issue 3, 262-265

Abstract: This paper examines whether democracy promotes financial development. While cross-section results show a positive association between democracy and bank development, this relationship disappears in panel regressions. The data also reveals that democracy is not positively related to stock market development.

Keywords: Democracy; Institutions; Financial; development (search for similar items in EconPapers)
Date: 2011
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Citations: View citations in EconPapers (40)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:ecolet:v:112:y:2011:i:3:p:262-265

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