From Institutions to Financial Development and Growth: What Are the Links?

Andrés Fernández Martin and Juan Pablo Rud
Authors registered in the RePEc Author Service: Cesar E. Tamayo and Paulo Bastos

No 6867, IDB Publications (Working Papers) from Inter-American Development Bank

Abstract: This paper presents an integrated overview of the literature linking institutions, financial development and economic growth. From the large body of research on institutional development, the paper first selects those contributions that make it possible to study the role of institutional arrangements in ameliorating/worsening the information frictions and transaction costs that characterize the development of financial markets. The paper then investigates the theoretical mechanisms by which these specific frictions affect economic growth and presents the stock of empirical evidence quantifying the impact of institutions on growth through financial development.

Keywords: Property rights; Contract enforcement; Institutions; Economic growth; Financial frictions; Financial development; Transaction costs (search for similar items in EconPapers)
JEL-codes: G14 G28 G38 O16 O43 (search for similar items in EconPapers)
Date: 2015-03
References: Add references at CitEc
Citations: View citations in EconPapers (5)

Downloads: (external link)
https://publications.iadb.org/publications/english ... at-Are-the-Links.pdf (application/pdf)

Related works:
Journal Article: FROM INSTITUTIONS TO FINANCIAL DEVELOPMENT AND GROWTH: WHAT ARE THE LINKS? (2017)
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:idb:brikps:6867

Access Statistics for this paper

More papers in IDB Publications (Working Papers) from Inter-American Development Bank Contact information at EDIRC.
Bibliographic data for series maintained by Felipe Herrera Library ().