The DOI matches its Crossref record; 6 of the 6 references it cites were found in a registry or an index.
Private credit in 129 countries☆
Open accessAbstract
We investigate cross-country determinants of private credit, using new data on legal creditor rights and private and public credit registries in 129 countries. Both creditor protection through the legal system and information-sharing institutions are associated with higher ratios of private credit to gross domestic product, but the former is relatively more important in the richer countries. An analysis of legal reforms shows that credit rises after improvements in creditor rights and in information sharing. Creditor rights are remarkably stable over time, contrary to the hypothesis that legal rules are converging. Finally, legal origins are an important determinant of both creditor rights and information-sharing institutions. The analysis suggests that public credit registries, which are primarily a feature of French civil law countries, benefit private credit markets in developing countries.
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Cites
La Porta, R., Lopez‐de‐Silanes, F., Shleifer, A., & Vishny, R. W. (1998) · Journal of Political Economy · doi:10.1086/250042 · Cited by 18,025
Self-citationCredit Rationing in Markets with Imperfect Information
Stiglitz, J. E., & Weiss, A. (1981) · Columbia University · doi:10.7916/d8v12ft1 · Cited by 12,769
How Much Should We Trust Differences-in-Differences Estimates?
Bertrand, M., Duflo, E., & Mullainathan, S. (2004) · The Quarterly Journal of Economics · doi:10.1162/003355304772839588 · Cited by 10,641
Legal Determinants of External Finance
LA PORTA, R., LOPEZ‐DE‐SILANES, F., SHLEIFER, A., & VISHNY, R. W. (1997) · The Journal of Finance · doi:10.1111/j.1540-6261.1997.tb02727.x · Cited by 9,783
Self-citationLa Porta, R. (1999) · Journal of Law, Economics, and Organization · doi:10.1093/jleo/15.1.222 · Cited by 5,699
Optimal contracts and competitive markets with costly state verification
Townsend, R. M. (1979) · Journal of Economic Theory · doi:10.1016/0022-0531(79)90031-0 · Cited by 3,204
Cited by
The Economic Consequences of Legal Origins
Porta, R. L., Lopez-de-Silanes, F., & Shleifer, A. (2008) · Journal of Economic Literature · doi:10.1257/jel.46.2.285 · Cited by 3,220
Self-citationThe Origins of State Capacity: Property Rights, Taxation, and Politics
Besley, T., & Persson, T. (2009) · American Economic Review · doi:10.1257/aer.99.4.1218 · Cited by 1,637
Acquisti, A., Taylor, C., & Wagman, L. (2016) · Journal of Economic Literature · doi:10.1257/jel.54.2.442 · Cited by 1,283
Financial Reporting Quality and Investment Efficiency of Private Firms in Emerging Markets
Chen, F., Hope, O.-K., Li, Q., & Wang, X. (2011) · The Accounting Review · doi:10.2308/accr-10040 · Cited by 1,254
Bank Competition and Financial Stability
Berger, A. N., Klapper, L. F., & Turk-Ariss, R. (2009) · Journal of Financial Services Research · doi:10.1007/s10693-008-0050-7 · Cited by 1,221
Metadata
- Authors
- DJANKOV, S., MCLIESH, C., & SHLEIFER, A.
- Venue
- Journal of Financial Economics
- Publisher
- Elsevier BV
- Published
- 2007-05
- Volume
- 84
- Issue
- 2
- Pages
- 299-329
- ISSN
- 0304-405X (ISSN-L)
- OpenAlex
- W2069985282
- Cited by
- 2,795
- References
- 6
- FWCI
- 243.27
- Type
- journal article
- Language
- en
- Open access
- bronze
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Contains information from the Semantic Scholar Academic Graph Datasets, made available under the ODC Attribution License (ODC-BY 1.0).
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