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Rafael La Porta, Florencio Lopez-de-Silanes, Andrei Shleifer
NBER Working Paper No. 13608
Issued in November 2007
NBER Program(s): CF
---- 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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