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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...
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In recent years, the Vietnamese economy has shown signs of financial distress, and especially small banks have experienced serious liquidity and solvency problems. Based on the new policy of the State Bank of Vietnam, in order to ensure safe and effective banking operations, the Basel II accord...
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The author examines the impact of incomplete risk-sharing on growth and welfare. The source of market incompleteness in the economy is private information: a household's idiosyncratic productivity shock is not observable by others. Risk-sharing between households occurs through long-term...
Persistent link: https://www.econbiz.de/10014179172
The law and finance theory predicts that the common law system provides the best basis for financial development and … number of sceptical views, this paper argues that the theory faces an identification problem, since the majority of common … they cannot rule out that the theory refers to a relevant link between the legal tradition and financial development …
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