The paper uses recently created datasets measuring legal change over time in a sample of 28 developed and emerging economies to test whether the strengthening of share-holder rights in the course of the mid-1990s and 2000s promoted stock market development in those countries. It finds only weak...

The terms of trade Britain exhibited a declining trend in the first half of the nineteenth century. But after two decades of transitional confusion, they started to move upwards. The explanation lies in the fact that the reversal of the trend corresponded to a change in the structure of British...

In a sample of sixty less developed countries, the present study observes that the regulation of competition in the production sector has a favourable effect on the growth of aggregate output, manufacturing value-added and fixed capital formation. The regulation of competition in the banking...

This study re-examines the theory of legal origin on the basis of a new longitudinal dataset on creditor protection for four OECD countries over a long time span 1970-2005. It observes that civil law countries (France and Germany) provided a higher level of protection to creditors on the issue...

The paper examines whether the creditor protection promotes credit market development in the emerging countries. It analyses the available data for a sample of 15 emerging countries over the time-span, 1995-2013 with the aid of three alternative dynamic panel data models: dynamic fixed effect...

We use recently created datasets measuring legal change over time in a sample of 28 developed and emerging economies to test whether the strengthening of shareholder rights in the course of the mid-1990s and 2000s promoted stock market development in those countries. We find only weak and...

In the present LPG (Liberalisation, Privatisation and Globalisation) regime the stock market has been assigned to play an important role. There is now a call for better corporate governance in order to protect the interests of the share holders. In this perspective the Centre for Business...

This paper develops the seminal ideas of Nicholas Kaldor into a Centre-Periphery framework of the world economy where the Centre faces the problem of surplus capacity and effective demand and the Periphery faces a capacity constraint. In such a framework, Harrod-type 'foreign trade multiplier'...