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External Financing and the Rate of Economic Growth

โœ Scribed by Peter M. Gutmann

Book ID
125647988
Publisher
American Economic Association
Year
1967
Tongue
English
Weight
232 KB
Volume
57
Category
Article
ISSN
0002-8282

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This paper examines how the legal environment affects financial development, and then asks how this in turn is linked to long-run economic growth. Financial intermediaries are better developed in countries with legal and regulatory systems that (1) give a high priority to creditors receiving the ful