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Unbundling Institutions for External Finance : Worldwide Firm-Level Evidence

The empirical literature on institutions and development has been challenged on grounds of reverse causality, measurement error in institutional indicators, and heterogeneity. This paper uses firm-level data across countries to confront these chall...

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Bibliographic Details
Main Authors: Knack, Steve, Xu, Lixin Colin
Language:English
en_US
Published: World Bank, Washington, DC 2015
Subjects:
DEPOSIT
BORROWER
CONTRACT RIGHTS
ECONOMIC GROWTH
TRADE CREDIT
CHECKS
PEOPLE
DEFAULTS
CONFLICT OF INTEREST
FINANCING
STOCK
BRIBES
MICRO-ENTERPRISES
INTEREST
CORPORATE INSIDERS
BIAS
PROPERTY RIGHTS
PRIVATE CREDIT
EXCHANGE
STOCK MARKET
EQUITY MARKET
DEBTOR
BANKING SYSTEMS
ACCESS TO EXTERNAL FINANCE
DEPOSIT MONEY BANKS
REINVESTMENT RATES
LOAN
CREDIT ALLOCATION
FORMAL FINANCE
ENDOWMENT
BORROWERS
PRIVATE PROPERTY
CORRUPTION
BANKRUPTCY
CENTRAL BANKS
INTERNATIONAL BANK
CREDITORS
INFLATION
CREDITOR
LENDER
CREDIT BANK
CAPITAL FINANCE
INSTRUMENTS
DISPUTE RESOLUTION
CREDIBILITY
ACCESS TO INVESTMENT
EXTERNAL FINANCE
BIASES
SMALL BUSINESS
JUDICIAL INDEPENDENCE
SAVINGS
EQUAL TREATMENT
MARKET DEVELOPMENT
GROWTH OPPORTUNITIES
CONTRACTS
INFORMAL FINANCE
CORPORATE FINANCE
INVESTMENT FUNDS
PAYMENT
FINANCIAL INSTITUTIONS
MARKETS
DEBT
FINANCIAL REGULATIONS
INFLATION RATE
CREDITOR RIGHTS
LENDERS
LOCAL STOCK MARKET
INCOME LEVELS
FIXED ASSET
ENTERPRISES
BANK CREDIT
GROSS DOMESTIC PRODUCT
RULE OF LAW
FINANCIAL SYSTEM
LEGAL FRAMEWORK
BANK FINANCING
FINANCE
MICRO ENTERPRISES
BANKS
INFORMATION ASYMMETRY
JUDICIAL SYSTEM
TRANSACTIONS
MINORITY SHAREHOLDER PROTECTION
BANKRUPTCY LAWS
EQUITY
INVESTORS
HUMAN CAPITAL
PROPERTY RIGHT
GOOD
CAPITAL
TRANSPARENCY
COUNTRY RISK
ACCESS TO FINANCE
EXPROPRIATION RISK
BANK
RETURNS
CREDIT
ACCESSIBILITY
WORKING CAPITAL
CONTRACT
EXTERNAL FUNDS
FINANCIAL PERFORMANCE
ENTERPRISE
PROPERTY
PRIVATE PARTIES
JOB CREATION
MINORITY SHAREHOLDER
SHARES
FINANCIAL ACCESS
MARKET
STOCK MARKET DEVELOPMENT
MINORITY SHAREHOLDERS
FINANCIAL SERVICE
SECURITIES
SHAREHOLDERS
DEVELOPMENT OF BANKING
ACCESS TO CREDIT
EXPROPRIATION
ECONOMIC DEVELOPMENT
INTERESTS
FINANCING OBSTACLES
INVESTOR PROTECTIONS
INVESTOR
CORPORATE DEBT
GOODS
FIXED ASSETS
LEGAL SYSTEM
FINANCIAL DEVELOPMENT
DURABLE
EQUITY MARKETS
INVESTMENT
FINANCIAL INTERMEDIATION
LEGAL PROTECTION
FINANCIAL INTERMEDIARIES
SHARE
INVESTOR PROTECTION
COLLATERAL
JUDICIAL SYSTEMS
INTERNAL FUNDS
SALES GROWTH
FINANCIAL MARKETS
FINANCIAL CAPACITY
FINANCIAL ASSETS
INSTITUTIONAL DEVELOPMENT
REINVESTMENT
EARNINGS
INVESTMENTS
LENDING
SHAREHOLDER
EXTERNAL FINANCING
INSTRUMENT
MICRO DATA
FINANCIAL SYSTEMS
LIABILITIES
PROPERTY RIGHTS PROTECTION
STOCK MARKETS
PROTECTION OF MINORITY SHAREHOLDERS
FINANCIAL DEPTH
MICROENTERPRISES
DEBT MATURITY
EMPLOYEES
Online Access:http://documents.worldbank.org/curated/en/2015/06/24578640/unbundling-institutions-external-finance-worldwide-firm-level-evidence
http://hdl.handle.net/10986/22160

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