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- W2134872191 abstract "Does democracy induce financial development? Exogenous variation in political institutions among former colonies due to differences in geography supports this claim. However, considerable variation in financial development is left unexplained after considering factor endowments — particularly in Latin America, where there have been several reversals and improvements in financial development; and where many countries have cycled between regime types. We therefore test the democracy causes financial development hypothesis there. Democracies that appeal to the median voter, because they have adopted their own constitution after transition, rather than inherited one from authoritarian predecessors, reform their financial systems, increase the supply of credit, and reduce its price." @default.
- W2134872191 created "2016-06-24" @default.
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- W2134872191 date "2013-01-01" @default.
- W2134872191 modified "2023-09-24" @default.
- W2134872191 title "Democracy, Elite-Bias and Financial Development in Latin America" @default.
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- W2134872191 doi "https://doi.org/10.2139/ssrn.2373287" @default.
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