Financial development and institutions: A literature review

Finansal kalkınma farklılıklarının nedenleri arasında, “kurumlar” son yıllarda önemli ölçüde dikkat çekmektedir. Bu bağlamda, hangi kurumların finansal kalkınmayı teşvik ettiği sorusu önem kazanmaktadır. Bu konuda, son dönemde formel ve informel kurumlar (hukuk sitemleri, ticaret açıklığı, sosyal sermaye, politik grupların davranışları, vb…) ile finansal kalkınma arasında ilişki kuran teoriler ortaya atılmıştır. Buna bağlı olarak, bu çalışmanın amacı, finansal kalkınma üzerinde kurumsal çevrenin etkilerini daha iyi anlamaya imkan sağlayacak kavramsal bir çatı sunmaktır.

Finansal kalkınma ve kurumlar: Bir literatür incelemesi

Among the causes of differences in financial development, “institutions” have received considerable attention in recent years. In this context, the question of which institutions promote financial development seems particularly important. Therefore, the theories that explain the relationships between formal or informal institutions (law systems, trade openness, trust, social capital, political groups, etc.) and financial development have been introduced in recent literature. The aim of this paper is to present a general conceptual framework that will provide a better understanding the effects of institutional environment on the financial development.

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