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Relative Price Stability, Creditor Rights, and Financial Deepening, Pablo Druck, Alexander Plekhanov, Mario Dehesa

Abstract
The paper provides a theoretical and cross-country empirical analysis of the determinants of financial deepening, and finds that higher credit-to-GDP ratios are associated with stronger creditor rights and lower inflation, and that the marginal effect of improvements in creditor rights protection is declining as the rate of inflation increases. The analysis suggests that in a high inflation environment, controlling inflation and reducing macroeconomic volatility should be given priority. Once these goals are achieved, the focus of attention should shift to creditor rights protection and credit information management
Table Of Contents
Contents; I. Introduction; II. Determinants of Financial Deepening; A. Creditor Rights; B. Relative Price Stability; III. The Model; A. Setup; B. Interest Rates; C. Financial Deepening; IV. Empirical Evidence; A. Econometric Strategy; B. Data; C. Results; V. Conclusion; References; Appendix
Language
eng
Literary Form
non fiction
Note
Description based upon print version of record
Physical Description
1 online resource (23 p.)
Specific Material Designation
remote
Form Of Item
online
Isbn
9781283516822

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