Law and Finance: Why Does Legal Origin Matter?
TLDR
The authors empirically assesses two theories of why legal origin influences financial development, i.e., political and adaptation, and concludes that legal systems that adapt quic kly to minimize the gap between the contracting needs of the economy and the legal system's capabilities will foster financial development more effectively than would more rigid legal traditions.About:
This article is published in Journal of Comparative Economics.The article was published on 2002-10-31 and is currently open access. It has received 929 citations till now. The article focuses on the topics: Legal culture & Legal doctrine.read more
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Law, Finance, and Economic Growth in China
TL;DR: Li et al. as discussed by the authors examined three sectors of the economy: the State Sector (state-owned firms), the Listed Sector (publicly listed firms), and the Private Sector (all other firms with various types of private and local government ownership).
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Law, finance, and economic growth in China
TL;DR: Li et al. as mentioned in this paper showed that the private sector grows much faster than the other three sectors and provides most of the economy's growth, while the law-finance growth nexus applies to the State Sector and the Listed Sector, with arguably poorer applicable legal and financial mechanisms.
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The Economic Consequences of Legal Origins
TL;DR: The authors argued that the historical origin of a country's laws is highly correlated with a broad range of its legal rules and regulations, as well as with economic outcomes, and they summarized this evidence and attempted a unified interpretation.
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Financial and Legal Constraints to Growth: Does Firm Size Matter?
TL;DR: In this article, the authors investigate the effect of financial, legal, and corruption problems on firms' growth rates and find that it is consistently the smallest firms that are most constrained.
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Private credit in 129 countries
TL;DR: In this article, the authors investigate cross-country determinants of private credit, using new data on legal creditor rights and private and public credit registries in 129 countries, and find that both creditor protection through the legal system and information sharing institutions are associated with higher ratios of the private credit to GDP.
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Law and Finance
Rafael La Porta,Rafael La Porta,Florencio Lopez de Silanes,Florencio Lopez de Silanes,Andrei Shleifer,Andrei Shleifer,Robert W. Vishny,Robert W. Vishny +7 more
TL;DR: This paper examined legal rules covering protection of corporate shareholders and creditors, the origin of these rules, and the quality of their enforcement in 49 countries and found that common law countries generally have the best, and French civil law countries the worst, legal protections of investors.
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Law and Finance
TL;DR: In this article, the authors examined legal rules covering protection of corporate shareholders and creditors, the origin of these rules, and the quality of their enforcement in 49 countries and found that common-law countries generally have the strongest, and French civil law countries the weakest, legal protections of investors, with German- and Scandinavian-civil law countries located in the middle.
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Legal Determinants of External Finance
TL;DR: The authors showed that countries with poorer investor protections, measured by both the character of legal rules and the quality of law enforcement, have smaller and narrower capital markets than those with stronger investor protections.
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Finance and Growth: Schumpeter Might Be Right
TL;DR: In this paper, the authors examined a cross-section of about 80 countries for the period 1960-89 and found that various measures of financial development are strongly associated with both current and later rates of economic growth.
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The Colonial Origins of Comparative Development: An Empirical Investigation
TL;DR: Acemoglu, Johnson, and Robinson as discussed by the authors used estimates of potential European settler mortality as an instrument for institutional variation in former European colonies today, and they followed the lead of Curtin who compiled data on the death rates faced by European soldiers in various overseas postings.