"Moral Hazard is a core concept in economics. In a nutshell, moral hazard reflects the reduced incentive to protect against risk where an entity is (or believes it will be) protected from its consequences, whether through an insurance arrangement or an implicit or explicit guarantee system. It...

"There are many studies confirming the relationship between financial systems and economic development but there are few which examine the degree to which financial systems: a) impact the quality of information, b) influence sound corporate governance, c) ensure effective mechanisms of risk...