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Can Civil Law Countries Get Good Institutions?Creditor Rights and Bond Markets in Brazil,1850-2003
Civil Law Countries Creditor Rights Bond Markets
2015/4/20
Can we assume that the effect of early institutions is persistent over time? Work by La Porta,Lopez de Silanes, Shleifer, and Vishny, also known as the “law and finance” literature, implicitly argues ...
This paper presents a dynamic equilibrium model of bond markets in which two groups
of agents hold heterogeneous expectations about future economic conditions. The heterogeneous expectations cause ag...