Bekaert, Geert; Harvey, Campbell R.; Lundblad, Christian; … - 2005
. We show that
investor protection per se is less important than more general measures of political risk, specif-
ically …, investor protection, capital al-
location, and growth. We find that financial development, external finance dependence, and …
investor protection measures are much less important in aligning growth opportunities with
growth than is capital market …