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Law and Finance After a Decade of Research

Rafael La Porta (), Florencio Lopez-de-Silanes () and Andrei Shleifer

Chapter Chapter 6 in Handbook of the Economics of Finance, 2013, vol. 2, pp 425-491 from Elsevier

Abstract: In the last dozen years, 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. Much of this research has dealt with rules governing investor protection and their effects on financial markets. We summarize this evidence and attempt a unified interpretation. We also address several objections to the empirical claim that legal origins matter.

Keywords: Corporate governance; Law and finance; Financial development; Financial regulation; Investor protection; Corporate and securities laws; Bankruptcy and reorganization (search for similar items in EconPapers)
JEL-codes: G15 G32 G38 G33 G34 G35 K20 K22 O16 P50 (search for similar items in EconPapers)
Date: 2013
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Handle: RePEc:eee:finchp:2-a-425-491