Beck, Thorsten; Demirguc-Kunt, Asli - In: American Law and Economics Review 7 (2005) 1, pp. 211-252
This article examines how a country's legal origin influences the operation of its financial system by using firm-level survey data across a broad cross-section of countries on the obstacles that firms face in raising external finance. Using panel regressions, the article assesses two channels...