The DOI matches its Crossref record; 7 of the 7 references it cites were found in a registry or an index.
Law and finance: why does legal origin matter?
Abstract
A growing body of work suggests that cross-country differences in legal origin help explain differences in financial development. The authors assess two theories of why legal origin influences financial development. First, the"political"channel stresses that (1) legal traditions differ in the priority they give to the rights of individual investors compared with the state, and that (2) this has repercussions for the development of property rights and financial markets. Second, the"adaptability"channel holds that (1) legal traditions differ in their ability to adjust to changing commercial circumstances, and (2) legal systems that adapt quickly 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. The authors use historical comparisons and cross-country regressions to assess the validity of these two channels.
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Citations
Cites
La Porta, R., Lopez‐de‐Silanes, F., Shleifer, A., & Vishny, R. W. (1998) · Journal of Political Economy · doi:10.1086/250042 · Cited by 18,025
Legal Determinants of External Finance
LA PORTA, R., LOPEZ‐DE‐SILANES, F., SHLEIFER, A., & VISHNY, R. W. (1997) · The Journal of Finance · doi:10.1111/j.1540-6261.1997.tb02727.x · Cited by 9,783
The colonial origins of comparative development: An empirical investigation
Acemoglu, D., Johnson, S., & Robinson, J. A. (2001) · American Economic Review · doi:10.1257/aer.91.5.1369 · Cited by 8,517
La Porta, R. (1999) · Journal of Law, Economics, and Organization · doi:10.1093/jleo/15.1.222 · Cited by 5,699
North, D. C., & Weingast, B. R. (1989) · The Journal of Economic History · doi:10.1017/s0022050700009451 · Cited by 5,300
The great reversals: the politics of financial development in the twentieth century
Rajan, R. G., & Zingales, L. (2003) · Journal of Financial Economics · doi:10.1016/s0304-405x(03)00125-9 · Cited by 3,327
Financial development, property rights, and growth
Claessens, S., & Laeven, L. (2003) · The Journal of Finance · doi:10.1046/j.1540-6261.2003.00610.x · Cited by 338
Cited by
The Economic Consequences of Legal Origins
Porta, R. L., Lopez-de-Silanes, F., & Shleifer, A. (2008) · Journal of Economic Literature · doi:10.1257/jel.46.2.285 · Cited by 3,220
Chapter 12 Finance and Growth: Theory and Evidence
Levine, R. (2005) · Handbook of Economic Growth · doi:10.1016/s1574-0684(05)01012-9 · Cited by 2,889
Self-citationBotero, J. C., Djankov, S., Porta, R. L., Lopez-de-Silanes, F., & Shleifer, A. (2004) · The Quarterly Journal of Economics · doi:10.1162/0033553042476215 · Cited by 2,124
Tropics, germs, and crops: How endowments influence economic development
Easterly, W., & Levine, R. (2003) · Journal of Monetary Economics · doi:10.1016/s0304-3932(02)00200-3 · Cited by 1,727
Self-citationDjankov, S., Glaeser, E., La Porta, R., Lopez-de-Silanes, F., & Shleifer, A. (2003) · Journal of Comparative Economics · doi:10.1016/j.jce.2003.08.005 · Cited by 1,204
Metadata
- Authors
- Beck, T., Demirgüç-Kunt, A., & Levine, R.
- Venue
- Journal of Comparative Economics
- Publisher
- Elsevier BV
- Published
- 2003-12
- Volume
- 31
- Issue
- 4
- Pages
- 653-675
- ISSN
- 0147-5967 (ISSN-L)
- OpenAlex
- W3021830562
- Cited by
- 1,088
- References
- 7
- FWCI
- 115.57
- Type
- journal article
- Language
- en
- Open access
- closed
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Contains information from the Semantic Scholar Academic Graph Datasets, made available under the ODC Attribution License (ODC-BY 1.0).
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