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Type | Scientific Publication In Electronic Form |
Scope | Discipline-based scholarship |
Title | Democratic development lowers the cost of credit |
Organization Unit | |
Authors |
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Refereed | No |
Language |
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Place of Publication | London |
Publisher | VoxEU, CEPR Policy Portal |
Date | 2017-02-22 |
Abstract Text | The positive relationship between democratic development and economic outcomes is well established. Using three decades of international data, this column identifies a new channel for this effect – the cost of credit to corporations. It also analyses loan pricing in Turkey to reveal a substantial rise in the average cost of lending after the attempted coup d’etat in July 2016. Together, these results highlight how efficiency in loan pricing results in a comparative advantage for firms in democratic countries over those in less democratic or authoritarian countries. |
Free access at | Official URL |
Official URL | http://voxeu.org/article/democratic-development-lowers-cost-credit |
Other Identification Number | merlin-id:14630 |
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