Can civil law countries get good institutions?
creditor rights and bond markets in Brazil, 1850-2003
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Publication
2006 - Division of Research, Harvard Business School, Boston, Massachusetts
Language
English
Word Count
6,750 words, Guess
Page Count
27 pages
Identifiers
- Open LibraryOL57715859M
- OCLC Control Number67837593
Description
Can we assume that the effect of early institutions is persistent over time? Work by La Porta, Lopez de Silanes, Shleifer and Vishny, also known as the "law and finance" literature, implicitly argues that the legal tradition countries inherited or adopted in the far past has an important long-term effect on financial development. They argue financial development is related to the extent countries legally protect shareholders and creditors. Also, they find that countries that use the common law legal system have (on average) better investor protections that most civil law countries.
Subjects
Series Statement
- Working paper / Division of Research, Harvard Business School -- 06-040
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