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The interplay of legal and social norms and the failure of the bank credit market in Bulgaria

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Größl, Ingrid

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Corporate Editor Universität Hamburg, Fak. Wirtschafts- und Sozialwissenschaften, FB Sozialökonomie, Zentrum für Ökonomische und Soziologische Studien (ZÖSS)
Abstract "We take up the widely held view that the observed discrepancy between law on the books and law in action has prevented economic transition and investigate its role for the failure of the Bulgarian credit market. In doing so, we focus on the role injunctive informal institutions which have become internalized in the course of social development. Based on cross-cultural psychology, we show that a particular bundle of fundamental social norms which constitute basic value orientations have both prevented the development of stabilizing regulations and an overall compliance with prevailing laws." (author's abstract)
Keywords Bulgaria; capital market; credit; credit market; money market; loan; lending; credit system; social norm; act; law; bank; legal norm
Classification Political Economy; Law
Document language English
Publication Year 2005
City Hamburg
Page/Pages 40 p.
Series ZÖSS Discussion Paper, 4
Licence Deposit Licence - No Redistribution, No Modifications
data provider This metadata entry was indexed by the Special Subject Collection Social Sciences, USB Cologne