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 …) hypotheses that English common-law countries tend to have better developed financial intermediaries than French civil-law …

to assess empirically why and how Shari'a Law's legal origins adopted wholly or partially (combined with Common or Civil … Law) could explain the level of development of Islamic finance in different jurisdictions. Firstly, we found that …, adopting a mixed legal system based on Common Law and Shari'a Law, were characterized by the flexibility of their legal systems …

as rule of law, voice and accountability, corruption control, and state capture, we then provide evidence which suggests … a sobering picture: on average, there appears to be scant progress worldwide in recent times in improving rule of law …

the past and tend to enjoy more secure property and contractual rights and higher growth rates. To compete against these …

field. We focus on key governance components, such as rule of law, voice and accountability, corruption control, and state … improving rule of law and governance, controlling corruption, and improving institutional quality worldwide is apparent, with …