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The Economic Consequences of Legal Origins

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Author Info
Rafael La Porta
Florencio Lopez-de-Silanes
Andrei Shleifer

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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.

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Paper provided by National Bureau of Economic Research, Inc in its series NBER Working Papers with number 13608.

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Date of creation: Nov 2007
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Handle: RePEc:nbr:nberwo:13608

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Find related papers by JEL classification:
K00 - Law and Economics - - General - - - General (including Data Sources and Description)
N20 - Economic History - - Financial Markets and Institutions - - - General, International, or Comparative
P51 - Economic Systems - - Comparative Economic Systems - - - Comparative Analysis of Economic Systems

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  71. Rafael La Porta & Florencio Lopez-de-Silanes & Andrei Shleifer & Robert W. Vishny, 2000. "Agency Problems and Dividend Policies around the World," Journal of Finance, American Finance Association, vol. 55(1), pages 1-33, 02. [Downloadable!] (restricted)
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    • Simeon Djankov & Rafael La Porta & Florencio Lopez-de-Silane & Andrei Shleifer & Juan Botero, 2003. "The Regulation of Labor," NBER Working Papers 9756, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
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  79. Mahoney, Paul G, 2001. "The Common Law and Economic Growth: Hayek Might Be Right," Journal of Legal Studies, University of Chicago Press, vol. 30(2), pages 503-25, Part I Ju.
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  81. Daniel Berkowitz & Karen Clay, 2006. "The Effect of Judicial Independence on Courts: Evidence from the American States," Journal of Legal Studies, University of Chicago Press, vol. 35, pages 399-440. [Downloadable!]
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