Arbeitspapier
Why do French civil-law countries have higher levels of financial efficiency?
The dominance of English common-law countries in prospects for financial development in the legal-origins debate has been debunked by recent findings. Using exchange rate regimes and economic/monetary integration oriented hypotheses, this paper proposes an inflation uncertainty theory in providing theoretical justification and empirical validity as to why French civil-law countries have higher levels of financial allocation efficiency. Inflation uncertainty, typical of floating exchange rate regimes accounts for the allocation inefficiency of financial intermediary institutions in English common-law countries. As a policy implication, results support the benefits of fixed exchange rate regimes in financial intermediary allocation efficiency.
- Language
-
Englisch
- Bibliographic citation
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Series: AGDI Working Paper ; No. WP/11/011
- Classification
-
Wirtschaft
Allocative Efficiency; Cost-Benefit Analysis
Financial Institutions and Services: General
Law and Economics: General
Comparative Economic Systems: General
General Regional Economics (includes Regional Data)
- Subject
-
Banking
allocation efficiency
exchange rate
inflation
economic integration
- Event
-
Geistige Schöpfung
- (who)
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Asongu, Simplice A.
- Event
-
Veröffentlichung
- (who)
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African Governance and Development Institute (AGDI)
- (where)
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Yaoundé
- (when)
-
2011
- Handle
- Last update
-
10.03.2025, 11:42 AM CET
Data provider
This object is provided by:
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. If you have any questions about the object, please contact the data provider.
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. If you have any questions about the object, please contact the data provider.
Object type
- Arbeitspapier
Associated
- Asongu, Simplice A.
- African Governance and Development Institute (AGDI)
Time of origin
- 2011
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