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The interplay of legal and social norms and the failure of the bank credit market in Bulgaria
[working paper]
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 in... view more
"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)... view less
Keywords
credit; loan; capital market; Bulgaria; act; social norm; lending; credit market; money market; credit system; bank; legal norm; law
Classification
Law
Political Economy
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 providerThis metadata entry was indexed by the Special Subject Collection Social Sciences, USB Cologne