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Democratic development and credit : “Democracy doesn't come cheap” But at least credit to its corporations will be
(11.10.2018)
Bank of Finland Research Discussion Papers 18/2018
Bank of Finland Research Discussion Papers 18/2018
Does democratization reduce the cost of credit? Using global syndicated loan data from 1984 to 2014, we find that democratization has a sizeable negative effect on loan spreads: a one-point increase in the zero-to-ten ...