Investment with weak contract enforcement: evidence from Hungary during transition
利用匈牙利农场的调查数据，研究合同违约（如延迟付款）对投资的影响，发现高水平的违约显著抑制投资，低水平则影响不显著。
This paper aims to provide empirical evidence relating to the importance of contract enforcement for development. Survey data on Hungarian farms are used to estimate the impact of contract hold-ups on investment. We find that investment is affected by a variety of factors. Contract breaches in the form of delayed payments have a non-linear effect on investment: at high levels, they significantly deter the investment, but not at low levels.