Legal Institutions and Financial Development

Beck, Thorsten; Levine, Ross

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Legal Institutions and Financial Development

NBER Working Paper No. w10417

47 Pages Posted: 20 Jun 2012 Last revised: 19 Dec 2022

See all articles by Thorsten Beck

Thorsten Beck

City University London - The Business School; Tilburg University - European Banking Center, CentER

Ross Levine

Stanford University; National Bureau of Economic Research (NBER)

There are 3 versions of this paper

Date Written: April 2004

Abstract

Why do some countries have growth-enhancing financial systems, while others do not? Why have some countries developed the necessary investor protection laws and contract-enforcement mechanisms to support financial institutions and markets, while others have not? This paper reviews existing research on the role of legal institutions in shaping financial development.

Suggested Citation: Suggested Citation

Beck, Thorsten and Levine, Ross, Legal Institutions and Financial Development (April 2004). NBER Working Paper No. w10417, Available at SSRN: https://ssrn.com/abstract=2087316