NDLI: The Economic Consequences of Legal Origins November 2007

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The Economic Consequences of Legal Origins November 2007

Content Provider	Semantic Scholar
Author	Porta, Rafael La
Copyright Year	2007
Abstract	In the last decade, economists have produced a considerable body of research suggesting 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. We summarize this evidence and attempt a unified interpretation. We also address several objections to the empirical claim that legal origins matter. Finally, we assess the implications of this research for economic reform. students in Ec 2470, four reviewers, and especially Louis Kaplow for extremely helpful comments. EDHEC is one of the top five business schools in France owing to the high quality of its academic staff (110 permanent lecturers from France and abroad) and its privileged relationship with professionals that the school has been developing since its establishment in 1906. EDHEC Business School has decided to draw on its extensive knowledge of the professional environment and has therefore concentrated its research on themes that satisfy the needs of professionals. EDHEC pursues an active research policy in the field of finance. Its " Risk and Asset Management Research Centre " carries out numerous research programs in the areas of asset allocation and risk management in both the traditional and alternative investment universes. I. INTRODuCTION About a decade ago, the three of us together with Robert Vishny published a pair of articles dealing with legal protection of investors and its consequences (La Porta et al. or LLSV, 1997, 1998). These articles generated a fair amount of follow-up research, and a good deal of controversy. This paper is our attempt to summarize the main findings, and more importantly to interpret them in a unified way.
File Format	PDF HTM / HTML
Alternate Webpage(s)	http://www.edhec-risk.com/edhec_publications/all_publications/RISKReview.2008-04-22.4354/attachments/EDHEC%20Working%20Paper%20The%20Economic%20Consequences%20of%20Legal%20Origins.pdf
Language	English
Access Restriction	Open
Content Type	Text
Resource Type	Article

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