Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/115513
Authors: 
Fernández Martin, Andrés
Tamayo, César E.
Year of Publication: 
2015
Series/Report no.: 
IDB Working Paper Series IDB-WP-565
Abstract: 
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.
Subjects: 
Financial development
Financial frictions
Property rights
Contract enforcement
Transaction costs
Institutions
Economic growth
JEL: 
G14
G28
G38
O16
O43
Persistent Identifier of the first edition: 
Creative Commons License: 
http://creativecommons.org/licenses/by-nc-nd/3.0/igo/legalcode
Document Type: 
Working Paper

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