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KDI 경제교육·정보센터

ENG
  • 경제배움
  • Economic

    Information

    and Education

    Center

최신자료
How Institutional Quality Causes Financial Development?
JETRO
2024.12.12
Institutional quality has received considerable attention in recent years as a potential determinant of variation in the level of financial development across countries. The current paper critically reviews the literature linking formal and informal institutions and financial development. It discusses the main theories in this regard―namely, legal origins theory, the new political economy of finance, and cultural finance. The paper provides an overview of the latest empirical research in each of these areas with a focus on the data and methods used. The directions for further research are also highlighted.