Droit, architecture financière et stratégies bancaires

Bertrand Chopard, Bruno Deffains () and Jean-Daniel Guigou
Additional contact information
Bruno Deffains: BETA - Bureau d'Économie Théorique et Appliquée - INRA - Institut National de la Recherche Agronomique - UNISTRA - Université de Strasbourg - UL - Université de Lorraine - CNRS - Centre National de la Recherche Scientifique
Jean-Daniel Guigou: CREA - Center for Research in Economic Analysis - uni.lu - Université du Luxembourg = University of Luxembourg = Universität Luxemburg, uni.lu - Université du Luxembourg = University of Luxembourg = Universität Luxemburg

Post-Print from HAL

Abstract: The legal origin influences the development of the financial system which impacts on the long run economic growth. So, we would like to conclude on the superiority of a special legal tradition or the bank based/market based system. However, the architecture of the financial system is neutral. It is rather the level of development of the financial sector that determines economic growth. Then, banks showed their capacity to react to the institutional changes through the multiplication of their activities and the choice of new debt contracts. Finally, common law, which a priori supports the development of the capital markets, generates nevertheless a legal risk related to the unpredictability of courts' decisions and some difficulties of harmonization due to a decentralized production of the law.

Date: 2007
References: Add references at CitEc
Citations:

Published in Revue de l'OFCE, 2007, 2 (101), pp.333-354. ⟨10.3917/reof.101.0333⟩

There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:hal:journl:hal-00279394

DOI: 10.3917/reof.101.0333

Access Statistics for this paper

More papers in Post-Print from HAL
Bibliographic data for series maintained by CCSD ().