This paper proposes and empirically validates four theories of why legal origin influences growth and welfare through finance. It is a natural extension of "Law and finance: why does legal origin matter?" by Thorsten Beck, Asli Demirgüç-Kunt and Ross Levine (2003). We find only partial support...

Since the end of the 1980s, a multi-billion dollar development industry has become centrally concerned with ‘the rule of law' as instrument, end, and indicator of ‘development'. Yet, while the term ‘rule of law' may be a relative newcomer to the development project, this most recent form...

This paper proposes and empirically validates four theories of why legal origin influences growth and welfare through finance. It is a natural extension of “Law and finance: why does legal origin matter?” by Thorsten Beck, Asli Demirgüç-Kunt and Ross Levine (2003). We find only partial...