CEU Electronic Theses and Dissertations, 2016
| Author | Kazlou, Aliaksandr |
|---|---|
| Title | Institutional determinants of private credit development: between democracy and rule of law |
| Summary | Relationships between democracy and economic growth have gained considerable attention over the last decades. However, not only theoretical arguments but also empirical findings on the subject usually contradict each other. In this thesis, I argue that a focus on better defined and more narrow aspects of these phenomena can help to reduce this ambiguity. By analyzing the relations between democracy, rule of law and private credit development which is an important determinant of economic growth, I show that rule of law has a significant and robust effect on financial development, while democracy shows small, negative but insignificant effects on all aspects of financial development considered in this study. In order to demonstrate this I employ statistical investigations into effects of democracy and rule of law on different aspects on financial development using a data consisting of a 19-year panel of 150 countries. |
| Supervisor | Bohle, Dorothee; Littvay, Levente |
| Department | Political Science MA |
| Full text | https://www.etd.ceu.edu/2016/kazlou_aliaksandr.pdf |
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