Law and finance: Why does legal origin matter? [Dataset]

DOI

This paper assesses empirically two theories of why legal origin influences financial development. The political channel stresses that legal traditions differ in the priority they give to the rights of individual investors vis-à-vis the state and this has repercussions for financial development. The adaptability channel holds that legal traditions differ in their ability to adjust to changing commercial circumstances and legal systems that adapt quickly will foster financial development more effectively. We use historical comparisons and cross-country regressions to assess the validity of these two channels. We find that legal origin matters for financial development because legal traditions differ in their ability to adapt efficiently to evolving economic conditions.

DSA proof. - Universe: A sample of 115 countries with French civil, German civil, Scandinavian civil and British common law origins.

Identifier
DOI https://doi.org/10.34894/HPCSRG
Metadata Access https://dataverse.nl/oai?verb=GetRecord&metadataPrefix=oai_datacite&identifier=doi:10.34894/HPCSRG
Provenance
Creator T. Beck; A. Demirgüç-Kunt; R. Levine
Publisher DataverseNL
Contributor DataverseNL
Publication Year 2013
Rights CC-BY-4.0; info:eu-repo/semantics/openAccess; http://creativecommons.org/licenses/by/4.0
OpenAccess true
Representation
Resource Type Miscellaneous data; Dataset
Format application/vnd.openxmlformats-officedocument.wordprocessingml.document; application/vnd.ms-excel
Size 40873; 165888
Version 6.0
Discipline Business and Management; Economics; Jurisprudence; Law; Social and Behavioural Sciences