Law , Finance , and Economic Growth

@inproceedings{Levine1998LawF,
  title={Law , Finance , and Economic Growth},
  author={Ross Levine},
  year={1998}
}
This paper examines the connection between the legal environment and financial development, and then traces this link through to long-run economic growth. Countries with legal and regulatory systems that (1) give a high priority to creditors receiving the full present value of their claims on corporations, (2) enforce contracts effectively, and (3) promote comprehensive and accurate financial reporting by corporations have better-developed financial intermediaries. The data also indicate that… CONTINUE READING
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