FROM INSTITUTIONS TO FINANCIAL DEVELOPMENT AND GROWTH: WHAT ARE THE LINKS?

被引：47

作者：

Fernandez, Andres ^{[1
]}

Tamayo, Cesar E. ^{[1
]}

机构：

[1] Interamer Dev Bank, Washington, DC 20577 USA

来源：

JOURNAL OF ECONOMIC SURVEYS | 2017年 / 31卷 / 01期

关键词：

Contract enforcement; Economic growth; Financial development; Financial frictions; Institutions; Property rights; Transaction costs; ECONOMIC-GROWTH; INVESTOR PROTECTION; CORPORATE GOVERNANCE; LEGAL INSTITUTIONS; PROPERTY-RIGHTS; SWITCHING COSTS; LOAN CONTRACTS; STOCK MARKETS; AGENCY COSTS; RISK-TAKING;

D O I：

10.1111/joes.12132

中图分类号：

F [经济];

学科分类号：

02 ;

摘要：

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.

引用

页码：17 / 57

页数：41

共 214 条

[1]

Aarstol M.P., 2000, The Quarterly Review of Economics and Finance, V40, P139

[2] Reversal of fortune: Geography and institutions in the making of the modern world income distribution [J].