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100 _aYousaf, Hira and Riaz, Khalid
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245 _aHow Institutional quality causes financial development?
260 _aThe Developing Economies
300 _a62(4), Dec, 2024: p. 380-408
520 _aInstitutional 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.- Reproduced https://onlinelibrary.wiley.com/doi/10.1111/deve.12410
650 _aCulture Financial development, Institutions, Legal organs, Political institution.
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773 _aThe Developing Economies
942 _cAR