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Law, Finance and Investment: does legal origin matter?

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  • Simplice A., Asongu

Abstract

This paper assesses if legal origin explains domestic, foreign, private and public investments through financial intermediary channels of depth, efficiency, activity and size. Findings show that legal origin matters in the finance-investment nexus; though its ability to explain aggregate investment dynamics only through financial intermediary channels is limited in the cases of private and public investments.

Suggested Citation

  • Simplice A., Asongu, 2011. "Law, Finance and Investment: does legal origin matter?," MPRA Paper 34698, University Library of Munich, Germany.
    • Handle: RePEc:pra:mprapa:34698
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    File URL: https://mpra.ub.uni-muenchen.de/34698/1/MPRA_paper_34698.pdf
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    References listed on IDEAS

    as
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    12. Simplice A. Asongu, 2015. "Law,Finance, Economic Growth and Welfare: Why Does Legal Origin Matter?," Institutions and Economies (formerly known as International Journal of Institutions and Economies), Faculty of Economics and Administration, University of Malaya, vol. 7(2), pages 30-55, July.
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    15. Julius A. Agbor, 2011. "How Does Colonial Origin Matter for Economic Performance in Sub-Saharan Africa?," WIDER Working Paper Series wp-2011-027, World Institute for Development Economic Research (UNU-WIDER).
    16. Simplice ASONGU, 2011. "Why Do French Civil Law Countries Have Higher Levels Of Financial Efficiency," Journal of Advanced Research in Law and Economics, ASERS Publishing, vol. 2(4), pages 94-108.
    17. Beck, Thorsten & Levine, Ross, 2002. "Industry growth and capital allocation:*1: does having a market- or bank-based system matter?," Journal of Financial Economics, Elsevier, vol. 64(2), pages 147-180, May.
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    Cited by:

    1. Janice Tieguhong Puatwoe & Serge Mandiefe Piabuo, 2017. "Financial sector development and economic growth: evidence from Cameroon," Financial Innovation, Springer;Southwestern University of Finance and Economics, vol. 3(1), pages 1-18, December.
    2. Asongu Simplice, 2013. "Globalization and Africa: implications for human development," International Journal of Development Issues, Emerald Group Publishing Limited, vol. 12(3), pages 213-238, September.
    3. Simplice A. Asongu, 2013. "Investment And Inequality In Africa: Which Financial Channels Are Good For The Poor?," The African Finance Journal, Africagrowth Institute, vol. 15(2), pages 43-65.
    4. Simplice A, Asongu, 2011. "Democracy and stock market performance in developing countries," MPRA Paper 35506, University Library of Munich, Germany.
    5. Simplice A. Asongu, 2014. "Finance and Democracy in Africa," Institutions and Economies (formerly known as International Journal of Institutions and Economies), Faculty of Economics and Administration, University of Malaya, vol. 6(3), pages 92-116, October.
    6. Simplice A. Asongu, 2014. "Correcting Inflation with Financial Dynamic Fundamentals: Which Adjustments Matter in Africa?," Journal of African Business, Taylor & Francis Journals, vol. 15(1), pages 64-73, April.
    7. Simplice A, Asongu, 2012. "The political economy of development assistance: peril to government quality dynamics in Africa," MPRA Paper 36543, University Library of Munich, Germany.
    8. Asongu Simplice, 2012. "Financial determinants of consumer price inflation. What do dynamics in money, credit, efficiency and size tell us?," Working Papers of the African Governance and Development Institute. 12/019, African Governance and Development Institute..
    9. Simplice A, Asongu, 2011. "Government quality determinants of stock market performance in developing countries," MPRA Paper 35508, University Library of Munich, Germany.
    10. Asongu Simplice, 2011. "Government Quality Determinants of Stock Market Performance in African Countries," Working Papers of the African Governance and Development Institute. 11/019, African Governance and Development Institute..
    11. Simplice A, Asongu, 2012. "Fighting consumer price inflation in Africa. What do dynamics in money, credit, efficiency and size tell us?," MPRA Paper 41553, University Library of Munich, Germany.
    12. Simplice A, Asongu, 2012. "Reversed Economics and Inhumanity of Development Assistance in Africa," MPRA Paper 36542, University Library of Munich, Germany.
    13. Asongu, Simplice A, 2013. "Finance and growth: New evidence from Meta-analysis," MPRA Paper 52210, University Library of Munich, Germany.
    14. Innwon Park & Soonchan Park, 2017. "Formation of interdependent regional trade agreements and production networks," The World Economy, Wiley Blackwell, vol. 40(10), pages 2032-2055, October.
    15. Simplice A., Asongu, 2011. "Finance and inequality: exploring pro-poor investment channels in Africa," MPRA Paper 34994, University Library of Munich, Germany.
    16. Simplice ASONGU, 2011. "Why Do French Civil Law Countries Have Higher Levels Of Financial Efficiency," Journal of Advanced Research in Law and Economics, ASERS Publishing, vol. 2(4), pages 94-108.
    17. Simplice A. Asongu & Jacinta C. Nwachukwu, 2016. "Foreign aid and governance in Africa," International Review of Applied Economics, Taylor & Francis Journals, vol. 30(1), pages 69-88, January.
    18. Asongu Simplice, 2011. "Democracy and Stock Market Performance in African Countries," Working Papers of the African Governance and Development Institute. 11/021, African Governance and Development Institute..
    19. Simplice A, Asongu, 2012. "New indicators for the mobile banking nexus," MPRA Paper 38575, University Library of Munich, Germany.
    20. Asongu Simplice, 2011. "Law, Democracy and the Quality of Government in Africa," Working Papers of the African Governance and Development Institute. 11/018, African Governance and Development Institute..

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    More about this item

    Keywords

    Law; Finance; Investment; Developing countries;
    All these keywords.

    JEL classification:

    • K40 - Law and Economics - - Legal Procedure, the Legal System, and Illegal Behavior - - - General
    • K20 - Law and Economics - - Regulation and Business Law - - - General
    • E22 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Investment; Capital; Intangible Capital; Capacity
    • P50 - Political Economy and Comparative Economic Systems - - Comparative Economic Systems - - - General

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