Financial structure and economic development : firm, industry, and country evidence / Thorsten Beck ... [et al] Beck, Thorsten

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Beck, Thorsten
Finance.; Finance - Law and legislation.; Economic development.
A country's level of financial development and the legal environment in which financial intermediaries and markets operate critically influence economic development. In countries whose financial sectors are more fully developed and whose legal systems protect the rights of outside investors, economies grow faster, industries dependent on external finance expand more quickly, new firms are created more easily, firms have more access to external financing, and firms grow faster.
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