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Economic Brief - Institutions for Credit Markets in Africa - Volume 2 - Issue 5 - December 2011
There is considerable interest in the association between the institutional setting for the protection of creditor rights and the development of the credit market. Recent research offers macro-level evidence that the quality of legal protection, enforceability of legal creditor rights and improvements in information sharing among creditors, are positively associated with the depth of the financial system. However, the micro-level analysis to identify and quantify the channels through which the institutional environment for the protection of creditor rights gets transmitted to the credit market is less developed.