Financial development and the evolution of property rights and legal institutions - ScienceDirect

Unfortunately, to reduce poverty, institutional quality must be combined with financial development; however, this is missing in West Africa. This conflicts with the findings of (Huang, 2010; La Porta, Lopez-De-Silanes, Shleifer, & Vishny, 1997; Marcelin & Mathur, 2014; Miletkov & Wintoki, 2012; Perotti & Van Oijen, 2001; Pistor, Raiser, & Gelfer, 2000; Rajan & Zingales, 2003) who documented institutional quality amplifies financial development. This also contradicts the findings of Cepparulo et al. (2017), Singh and Huang (2015) and Kaidi et al. (2019). Overall, Marcelin and Mathur (2014) emphasize that the influence of institutions on financial development involves interaction between institutional components rather than the legal institution alone. As for empirical analysis, Miletkov and Wintoki (2012) investigate the role of financial development in the evolution of property rights and legal institutions. Employing panel data of 129 countries, they find a positive causal relationsh

Unfortunately, to reduce poverty, institutional quality must be combined with financial development; however, this is missing in West Africa. This conflicts with the findings of (Huang, 2010; La Porta, Lopez-De-Silanes, Shleifer, & Vishny, 1997; Marcelin & Mathur, 2014; Miletkov & Wintoki, 2012; Perotti & Van Oijen, 2001; Pistor, Raiser, & Gelfer, 2000; Rajan & Zingales, 2003) who documented institutional quality amplifies financial development. This also contradicts the findings of Cepparulo et al. (2017), Singh and Huang (2015) and Kaidi et al. (2019). Overall, Marcelin and Mathur (2014) emp