China Incorporated
China Incorporated
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中国股份有限公司
DOI：
10.2139/ssrn.1814689
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发表时间：
2001
期刊：
影响因子：
--
通讯作者：
R. Moya
中科院分区：
文献类型：
--
作者：
A. Powell;Marcela Cristini;R. Moya
阿根廷是一个联邦国家，因此，虽然法律是全国性的，中央银行作为金融系统的监管机构拥有全国管辖权，但阿根廷的24个省拥有独立的司法权力。在本文中，我们分析了法律的制度的有效性在不同省份之间的差异如何影响信贷市场的发展。我们发现了强有力的结果。法律的执行不力的省份，借款人可获得的信贷较少，银行的不良贷款也较高。我们的结论是，法律的制度的有效性仍然是决定阿根廷信贷市场发展的一个非常重要的变量，法律的制度的改进将导致信贷供应的显著增加。
Argentina is a federal country and hence, although laws are national and the central bank has national jurisdiction as a regulator of the financial system, the 24 Argentine provinces have independent judicial authority. In this paper we analyze how variations in the effectiveness of the legal system across the different provinces have affected the development of credit markets. We find strong results. Provinces with poor legal enforcement have less credit available to borrowers and banks’ non-performing loans are higher. We conclude that the effectiveness of the legal system remains a highly significant variable in determining the development of the Argentine credit market and that improvements in the legal system would result in a significant increase in the availability of credit.