Legal institutions and the development of financial systems revisited

Simple item page
dc.contributor.authorBECK, Thorsten Harald Leopold
dc.contributor.authorLEVINE, Ross
dc.date.accessioned2025-01-31T16:00:43Z
dc.date.available2025-01-31T16:00:43Z
dc.date.issued2024
dc.descriptionPublished online: 24 August 2024en
dc.description.abstractThis chapter reviews the finance and law literature, which focuses on the role of legal institutions in shaping financial development. Considerable research finds that (1) in legal systems that enforce private property rights, support private contractual arrangements, and protect investors’ legal rights, savers are more willing to finance firms, and financial markets more efficiently allocate capital, and (2) the different legal traditions that emerged in Europe over previous centuries and were spread internationally through conquest, colonization, and imitation help explain cross-economy differences in investor protection, the contracting environment, and financial development. We discuss alternative explanations of financial development and weigh the evidence.en
dc.format.mimetypeapplication/pdfen
dc.identifier.issn0265-8003
dc.identifier.urihttps://hdl.handle.net/1814/77910
dc.language.isoenen
dc.orcid.uploadtrue*
dc.publisherCentre for Economic Policy Research (CEPR)en
dc.relation.hasversionhttps://hdl.handle.net/1814/78260en
dc.relation.ispartofseriesCEPR Discussion Papersen
dc.relation.ispartofseries2024/19387en
dc.relation.urihttps://cepr.org/publications/dp19387en
dc.rightsinfo:eu-repo/semantics/openAccessen
dc.subjectLegal institutionsen
dc.subjectLegal originsen
dc.subjectCorporate financeen
dc.subjectLegal adaptabilityen
dc.subjectPolitical structureen
dc.subjectG1en
dc.subjectG2en
dc.subjectG3en
dc.subjectK2en
dc.titleLegal institutions and the development of financial systems revisiteden
dc.typeWorking Paperen
dspace.entity.typePublication
person.identifier.other45508
relation.isAuthorOfPublicatione5eb7c26-0581-4333-9977-d261c87c02b7
relation.isAuthorOfPublication.latestForDiscoverye5eb7c26-0581-4333-9977-d261c87c02b7
Files
Original bundle
Now showing 1 - 1 of 1
Thumbnail Image
Name:
CEPR_DP_2024_19387.pdf
Size:
536.39 KB
Format:
Adobe Portable Document Format
Description:
Full-text in Open Access, Published version
Download
License bundle
Now showing 1 - 1 of 1
Thumbnail Image
Name:
license.txt
Size:
3.83 KB
Format:
Item-specific license agreed upon to submission
Description:
Download
Collections
RSC Working Papers