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Legal Determinants of External Finance / Rafael La Porta, Florencio Lopez-de-Silane, Andrei Shleifer, Robert W. Vishny.
- Format:
- Book
- Author/Creator:
- La Porta, Rafael.
- Series:
- Working Paper Series (National Bureau of Economic Research) no. w5879.
- NBER working paper series no. w5879
- Language:
- English
- Physical Description:
- 1 online resource: illustrations (black and white);
- Place of Publication:
- Cambridge, Mass. National Bureau of Economic Research 1997.
- Summary:
- Using a sample of 49 countries, we show that countries with poorer investor protections, measured by both the character of legal rules and the quality of law enforcement, have smaller and narrower capital markets. These findings apply to both equity and debt markets. In particular, French civil law countries have both the weakest investor protections and the least developed capital markets, especially as compared to common law countries.
- Notes:
- Print version record
- January 1997.
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