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Please use this identifier to cite or link to this item: http://hdl.handle.net/2108/97

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contributor.authorBagella, Michele-
contributor.authorBecchetti, Leonardo-
contributor.authorCaiazza, Stefano-
description.abstractThe literature on economic growth has recently emphasized the role of institutions but has not thoroughly explored the impact of different religious and cultural backgrounds on institution building. In this paper we argue that religious differences among countries are crucial determinants of the evolution of financial and non financial institutions. Moreover, we find that a positive link between finance and growth arises only in those countries whose cultural background allowed them to reach a sufficient degree of institutional development. This result is consistent with predictions of a nonlinear relationship between finance and growth from a recent vintage of theoretical models. The religious background-institutional development nexus is finally used in the paper to demonstrate that the effect of institutions on growth is for a significant part exogenous.en
description.tableofcontents1. Introduction - 2 Religious beliefs, financial and nonfinancial institutions: does a difference between protestant and catholic countries exists? - 3. Religious beliefs, nonfinancial and financial institutions: the Islamic financial system -4.1 Empirical analysis: some descriptive evidence on the link between religious heritage and institutions - 4.2 Econometric findings on the relationship between religious backgrounds and institutions - 5. The financial institutions -growth nexusen
format.extent294930 bytes-
relation.ispartofseriesQuaderni CEIS; 157-
titleCultures, finance and growthen
Appears in Collections:Quaderni
Research in Economics and Institutions

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