The Economic Consequences of Legal Origins

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.

Author(s):

Rafael La Porta

National Bureau of Economic Research

Florencio Lopez-de-Silanes

EDHEC Business School

Andrei Shleifer

National Bureau of Economic Research

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.

Type: Working paper
Date: le 05/11/2007
Research Cluster : Finance

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