| Article ID | Journal | Published Year | Pages | File Type |
|---|---|---|---|---|
| 9549482 | Economics Letters | 2005 | 5 Pages |
Abstract
This paper explains why weak-institution economies typically adopt bank-oriented financial systems by arguing that bank financing may harden firms' budget constraints (thanks to the unique financial structure of banks, which makes up for the weak corporate governance under inadequate legal institutions).
Related Topics
Social Sciences and Humanities
Economics, Econometrics and Finance
Economics and Econometrics
Authors
Julan Du,