Law and Investment in Africa

This paper sets a new tone in the legal origins debate with the overwhelming dominance of French civil-law countries in private investment: contrary to mainstream consensus where-in, English common-law countries are better at championing private property rights (La Porta et al., 1998; Beck et al, 2003). Findings are premised on much recent data (1996-2007) from 38 African countries. The study investigates how French, English, French sub-Saharan, Portuguese and North African legal origins shape domestic, foreign, private and public investments through law channels of regulation quality and the rule of law.