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Journal Article
Creditor protection and financial markets: empirical evidence and implications for Latin America
Although Latin American countries have made significant strides in reforming their financial markets, these markets remain shallow, implying a need for further reform. Stronger protection of creditor rights can improve the size and stability of credit markets and provide greater access to capital for small and medium-sized enterprises that operate under greater financial strictures. ; In discussing creditor protection?s impact on the size of financial markets, the authors first document the state of Latin American creditor protection. They then discuss the effect of enhanced creditor rights ...