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Abdi Ali
''Are property rights institutions and financial development complements or substitutes? The case of private investment''
( 2013, Vol. 33 No.2 )
This article explores whether the quality of the financial sector has an impact on the relationship between property rights institutions and private investment. Using dynamic panel techniques, we show that strong property rights promote increased private investment and that this positive effect is stronger in countries with poorer financial systems, suggesting that institutions and finance act as substitutes in their effect on investment.
Keywords: Property rights institutions, financial development and private investment
JEL: O1 - Economic Development: General
E2 - Macroeconomics: Consumption, Saving, Production, Employment, and Investment: General (includes Measurement and Data)
Manuscript Received : Mar 11 2013 Manuscript Accepted : May 02 2013

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