Law, endowments and property rights

Journal of Economic Perspectives

Volumn 19, Issue 3, 2005, Pages 61-88

  Levine, Ross ^a,b  

^a BROWN UNIVERSITY   (United States)

^b NATIONAL BUREAU OF ECONOMIC RESEARCH   (United States)

Author keywords

[No Author keywords available]

Indexed keywords

EID: 27844534822     PISSN: 08953309     EISSN: None     Source Type: Journal    
DOI: 10.1257/089533005774357842     Document Type: Conference Paper

References (114)

1. Acemoglu, Daron and Simon Johnson. 2003. "Unbundling Institutions." NBER Working Paper No. 9934.
2. Acemoglu, Daron, Simon Johnson and James A. Robinson. 2001. "The Colonial Origins of Comparative Development: An Empirical Investigation." American Economic Review. 91:5, pp. 1369-401.
3. Acemoglu, Daron, Simon Johnson and James A. Robinson. 2002. "Reversal of Fortune: Geography and Development in the Making of the Modern World Income Distribution." Quarterly Journal of Economics. 117:4, pp. 1231-294.
4. Acemoglu, Daron, Simon Johnson and James A. Robinson. 2005. "A Response to Albouy's 'A Reexamination Based on Improved Settler Mortality Data,'" Mimeo, Economics Department, MIT.
5. Acemoglu, Daron, Simon Johnson, James A. Robinson and Pierrre Yared. 2005. "From Education to Democracy?" American Economic Review Papers and Proceedings. Forthcoming.
6. Aganin, Alexander and Paolo Volpin. 2003. "History of Corporate Ownership in Italy." Mimeo, London Business School.
7. Albouy, David. 2004. "The Colonial Origins of Comparative Development: A Reexamination Based on Improved Settler Mortality Data." Mimeo, University of California, Berkeley.
8. Backhaus, Jurgen G. 1998. "Efficient Statute Law," in New Palgrave Dictionary of Economics and Law. Peter Newman, ed. London: MacMillan, pp. 24-28.
9. Barth, James, Gerard Caprio and Ross Levine. 2005. Rethinking Bank Regulation: Till Angels Govern. New York, N.Y.: Cambridge University Press, forthcoming.
10. Beck, Thorsten and Ross Levine. 2002. "Industry Growth and Capital Allocation: Does Having a Market- or Bank-based System Matter?" Journal of Financial Economics. 64:2, pp. 147-80.
11. Beck, Thorsten and Ross Levine. 2005. "Legal Institutions and Financial Development," in Handbook of New Institutional Economics. Claude Menard and Mary Shirley, eds. The Netherlands: Springer, chapter 11.
12. Beck, Thorsten, Asli Demirgüç-Kunt and Ross Levine. 2001. "Legal Theories of Financial Development." Oxford Review of Economic Policy. 17:4, pp. 483-501.
13. Beck, Thorsten, Asli Demirgüç-Kunt and Ross Levine. 2003a. "Law, Endowments, and Finance." Journal of Financial Economics. 70:2, pp. 137-81.
14. Beck, Thorsten, Asli Demirgüç-Kunt and Ross Levine. 2003b. "Law and Finance. Why Does Legal Origin Matter?" Journal of Comparative Economics. 31:4, pp, 653-75.
15. Beck, Thorsten, Asli Demirgüç-Kunt and Ross Levine. 2005. "Law and Firms' Access to Finance." American Law and Economics Review. 7:1, pp. 211-52.
16. Beck, Thorsten, Asli Demirgüç-Kunt and Vojislav Maksimovic. 2005. "Financial and Legal Constraints to Firm Growth: Does Firm Size Matter?" Journal of Finance. Forthcoming.
17. Beck, Thorsten, Ross Levine and Norman Loayza. 2000. "Finance and the Sources of Growth." Journal of Financial Economics. 58:1-2, pp. 261-300.
18. Beckford, George L. 1972 [2000]. Persistent Poverty: Underdevelopment in Plantation Economies of the Third World. Mona, Jamaica: University of the West Indies Press.
19. Berkowitz, Daniel, Katharina Pistor and Jean-Francois Richard. 2002. "Economic Development, Legality, and the Transplant Effect." European Economics Review. 47:1, pp. 165-95.
20. Bloom, David E. and Jeffrey D. Sachs. 1998. "Geography, Demography, and Economic Growth in Africa." Brookings Papers on Economic Activity. 2, pp. 207-73.
21. Blume, Lawrence E. and Daniel L. Rubinfeld. 1982. "The Dynamics of the Legal Process." Journal of Legal Studies. June, 11, pp. 405-19.
22. Cain, Philip J. and Anthony G. Hopkins. 1993. British Imperialism: Innovation and Expansion 1688-1914. New York, N.Y.: Longman.
23. Caprio, Gerard, Luc Laeven and Ross Levine. 2003. "Governance and Bank Valuation." Mimeo, University of Minnesota.
24. Chasteen, John C. 2000. Born in Blood and Fire: A Concise History of Latin America. New York: W. W. Norton.
25. Claessens, Stijn and Luc Laeven. 2003. "Financial Development, Property Rights, and Growth." Journal of Finance. 58:6, pp. 2401-436.
26. Claessens, Stijn, Simeon Djankov, Joseph P. H. Fan and Larry H. P. Lang. 2002. "Expropriation of Minority Shareholders in East Asia." Journal of Finance. 57, pp. 2741-71.
27. Coatsworth, John H. 1993. "Notes on the Comparative Economic History of Latin America and the United States," in Development and Underdevelopment in America: Contrasts in Economic Growth in North and Latin America in Historical Perspective. Walter L. Bernecker and Hans Werner Tobler, eds. Walter de Gruyter, New York, pp. 595-612.
28. Crosby, Alfred W. 1989. Ecological Imperialism: The Biological Expansion of Europe, 900-1900. Cambridge: Cambridge University Press.
29. Curtin, Philip D. 1964. The Image of Africa. Madison, Wisc.: University of Wisconsin Press.
30. Curtin, Philip D. 1989. Death by Migration: Europe's Encounter with the Tropical World in the Nineteenth Century. New York, N.Y.: Cambridge University Press.
31. Curtin, Philip D. 1998. Disease and Empire: The Health of European Troops in the Conquest of Africa. New York, N.Y.: Cambridge University Press.
32. Damaska, Mirjan R. 1986. The Faces of Justice and State Authority: A Comparative Approach to the Legal Process. New Haven, Conn.: Yale University Press.
33. David, Rene and John E. C. Brierley. 1985. Major Legal Systems in the World Today. London: Stevens and Sons.
34. Dawson, John P. 1960. A History of Lay Judges. Cambridge, Mass.: Harvard University Press.
35. Dawson, John P. 1968 [1986]. The Oracles of the Law. Ann Arbor, Mich.: University of Michigan Law School; Reprinted by William S. Hein & Co., Inc. Buffalo, New York.
36. De Long, J. Bradford and Andrei Shleifer. 1993. "Princes and Merchants: European City Growth before the Industrial Revolution." Journal of Law and Economics. October, 36, pp. 671-702.
37. Demirgüç-Kunt, Asli and Vojislav Maksimovic. 1998. "Law, Finance, and Firm Growth." Journal of Finance. 53:6, pp. 2107-137.
38. Diamond, Jared. 1997. Guns, Germs, and Steel. New York, N.Y.: W. W. Norton.
39. Djankov, Simeon, Rafael La Porta, Florencio Lopez-de-Silanes and Andrei Shleifer. 2003. "Courts." Quarterly Journal of Economics. 118:2, pp. 457-522.
40. Easterly, William. 2002. "Inequality Does Cause Underdevelopment: New Evidence from Commodity Endowments, Middle Class Share, and Other Determinants of Per Capita Income." Working Paper No. 1, Center for Global Development, January.
41. Easterly, William. 2006. The White Man's Burden: The Wacky Ambition of the West to Transform the Rest. New York, N.Y.: Penguin, forthcoming.
42. Easterly, William and Ross Levine. 1997. "Africa's Growth Tragedy: Policies and Ethnic Divisions." Quarterly Journal of Economics. November, 112, pp. 1203-250.
43. Easterly, William and Ross Levine. 2003. "Tropics, Germs, and Crops." Journal of Monetary Economics. 50:1, pp. 3-39.
44. Ekelund, Robert B. and Robert D. Tollison. 1980. "Economic Regulation in Mercantile England: Heckscher Revisited." Economics Inquiry. 18:4, pp. 567-99.
45. Engerman, Stanley L. and Kenneth L. Sokoloff. 1997. "Factor Endowments, Institutions, and Differential Paths of Growth among New World Economies," in How Latin America Fell Behind. Stephen Haber, ed. Stanford, Calif.: Stanford University Press, pp. 260-304.
46. Engerman, Stanley L. and Kenneth L. Sokoloff. 2002. "Factor Endowments, Inequality, and Paths of Development among New World Economies." Economica. Fall, 3, pp. 41-102.
47. Engerman, Stanley L. and Kenneth L. Sokoloff. 2005. "The Evolution of Suffrage Institutions in the New World." Journal of Economic History. Forthcoming.
48. Engerman, Stanley L., Elisa Mariscal and Kenneth L. Sokoloff. 1998. "Schooling, Suffrage, and the Persistence of Inequality in the Americas, 1800-1945." Unpublished working paper, Department of Economics, UCLA.
49. Epstein, Richard A. 1975. "Unconscionability: A Critical Reappraisal." Journal of Law and Economics. 18, pp. 293-315.
50. Finer, Samuel. 1997. The History of Government. Volumes. I-III. Cambridge: Cambridge University Press.
51. Franks, Julian and Oren Sussman. 1999. "Financial Innovations and Corporate Insolvency." Unpublished working paper, London Business School.
52. Franks, Julian, Colin Mayer and Stefano Rossi. 2003. "The Origination and Evolution of Ownership and Control." Oxford Financial Research Centre Working Paper No. 1003-FE-01.
53. Galanter, Marc. 1974. "Why the 'Haves' Come Out Ahead: Speculation on the Limits of Legal Change." Law and Society Review. 9:1, pp. 95-160.
54. Gann, Lewis H. and Peter Duignan. 1962. White Settlers in Tropical Africa, Maryland: Penguin.
55. Glaeser, Edward and Andrei Shleifer. 2002. "Legal Origins." Quarterly Journal of Economics. 117:4, pp. 1193-230.
56. Glaeser, Edward L., Rafael La Porta, Florencio Lopez-de-Silanes and Andrei Shleifer. 2004. "Do Institutions Cause Growth?" Journal of Economic Growth. 9:3, pp. 271-303.
57. Gutierrez, Hector. 1986. "La mortalite des eveques latino-americains aux XVIIe et XVII siecles." Annales de Demographie Historique. pp. 29-39.
58. Haber, Stephen, Armando Razo and Noel Maurer. 2003. The Politics of Property Rights: Political Instability, Credible Commitments, and Economic Growth in Mexico. Cambridge: Cambridge University Press.
59. Hall, Robert E. and Charles I. Jones. 1999. "Why do Some Countries Produce so Much More Output per Worker than Others?" Quarterly Journal of Economics. 114:1, pp. 83-116.
60. Hayek, Friedrich A. 1960. The Constitution of Liberty. Chicago: University of Chicago Press.
61. Johnson, Simon, Rafael La Porta, Florencio Lopez-de-Silanes and Andrei Shleifer. 2000. "Tunneling." American Economic Review. May, 90, pp. 22-27.
62. Johnson, Simon, John McMillan and Christopher Woodruff. 2002. "Property Rights and Finance." American Economic Review. 92:5, pp. 1335-356.
63. Jones, Eric L. 1981. The European Miracle: Environments, Economies, and Geopolitics in the History of Europe and Asia. Cambridge: Cambridge University Press.
64. Kamarck, Andrew M. 1976. The Tropics and Economic Development. Baltimore, Md.: John Hopkins University Press.
65. Khan, B. Zorina and Kenneth L. Sokoloff. 2004. "The Innovation of Patent Systems in the Nineteenth Century: A Comparative Perspective." Working paper, National Bureau of Economic Research.
66. Klerman, Daniel M. and Paul G. Mahoney. 2005. "The Value of Judicial Independence: Evidence from Eighteenth Century England." American Law and Economic Review. 7:1, pp. 1-27.
67. Knack, Steven and Philip Keefer. 1995. "Institutions and Economic Performance: Cross-Country Tests Using Alternative Measures." Economics and Politics. 7:3, pp. 207-27.
68. Kumar, Krishna B., Raghuram G. Rajan and Luigi Zingales. 2001. "What Determines Firm Size?" Unpublished working paper, University of Chicago.
69. Landes, David. 1998. The Wealth and Poverty of Nations. New York, N.Y.: W. W. Norton.
70. La Porta, Rafael, Florencio Lopez-de-Silanes, Andrei Shleifer and Robert W. Vishny. 1997. "Legal Determinants of External Finance." Journal of Finance. July, 52, pp. 1131-150.
71. La Porta, Rafael, Florencio Lopez-de-Silanes, Andrei Shleifer and Robert W. Vishny. 1998. "Law and Finance." Journal of Political Economy. December, 106, pp. 1113-155.
72. La Porta, Rafael, Florencio Lopez-de-Silanes, Andrei Shleifer and Robert W. Vishny. 1999. "The Quality of Government." Journal of Law, Economics and Organization. 15:1, pp. 222-79.
73. La Porta, Rafael, Florencio Lopez-de-Silanes, Andrei Shleifer and Robert W. Vishny. 2000a. "Investor Protection and Corporate Governance." Journal of Financial Economics. 58:1, pp. 3-27.
74. La Porta, Rafael, Florencio Lopez-de-Silanes, Andrei Shleifer and Robert W. Vishny. 2000b. "Agency Problems and Dividend Policies around the World." Journal of Finance. February, 55, pp. 1-33.
75. La Porta, Rafael, Florencio Lopez-de-Silanes, Andrei Shleifer and Robert W. Vishny. 2002. "Investor Protection and Corporate Valuation." Journal of Finance. 57:3, pp. 1147-170.
76. La Porta, Rafael, Florencio Lopez-de-Silanes, Cristian Pop-Eleches and Andrei Shleifer. 2003. "Judicial Checks and Balances," Journal of Political Economy. 112:2, pp. 445-70.
77. La Porta, Rafael, Florencio Lopez-de-Silanes and Andrei Shleifer. 2005. "What Works in Securities Laws?" Journal of Finance. Forthcoming.
78. Levine, Ross. 1998. "The Legal Environment, Banks, and Long-Run Economic Growth." Journal of Money, Credit, and Banking. August, 30, pp. 596-620.
79. Levine, Ross. 1999. "Law, Finance, and Economic Growth." Journal of Financial Intermediation. 8:1-2, pp. 36-67.
80. Levine, Ross. 2003. "Bank-Based or Market-Based Financial Systems: Which is Better?" Journal of Financial Intermediation. 11:4, pp. 398-428.
81. Levine, Ross, Norman Loayza and Thorsten Beck. 2000. "Financial Intermediation and Growth: Causality and Causes." Journal of Monetary Economics. August, 46, pp. 31-77.
82. Machiavelli, N. 1519 [1987]. Discourses on Livy. New York, N.Y.: Oxford University Press.
83. Mahoney, Paul. 2001. "The Common Law and Economic Growth: Hayek Might Be Right." Journal of Legal Studies. June, 30, pp. 503-25.
84. McNeill, William H. 1963. The Rise of the West: A History of the Human Community. Chicago, Ill.: University of Chicago Press.
85. Merryman, John H. 1985. The Civil Law Tradition: An Introduction to the Legal Systems of Western Europe and Latin America. Stanford, Calif.: Stanford University Press.
86. Merryman, John H. 1996. "The French Deviation." American Journal of Comparative Law. Winter, 44, pp. 109-19.
87. Montesquieu, Charles de Secondat 1748 [1990]. The Spirit of Laws. Cambridge, UK: Cambridge University Press.
88. Muller, Jerry Z. 2002. The Mind and Market: Capitalism in Modern European Thought. New York, N.Y.: Alfred A. Knopf.
89. North, Douglass C. 1981. Structure and Change in Economic History. New York, N.Y.: W. W. Norton.
90. North, Douglass C., William Summerhill and Barry Weingast. 2000. "Order, Disorder, and Economic Change: Latin America Versus North America," in Governing for Prosperity. Bruce Bueno de Mesquita and Hilton L. Root, eds. New Haven: Yale University Press, pp. 17-58.
91. Pagano, Marco and Paolo Volpin. 2001. "The Political Economy of Finance." Oxford Review of Economic Policy. 17:4, 502-19.
92. Plato. 360 B.C. [1992]. The Republic. G. M. Grube, trans. New York, N.Y.: Hackett Press.
93. Priest, George L. 1977. "The Common Law Process and the Selection of Efficient Rules." Journal of Legal Studies. 6, pp. 65-82.
94. Posner, Richard A. 1973. Economic Analysis of the Law. Boston, Mass.: Little-Brown.
95. Pound, John. 1991. "Proxy Voting and the SEC." Journal of Financial Economics. 29:2, pp. 241-85.
96. Przeworski, Adam. 2004a. "The Last Instance: Are Institutions the Primary Cause of Economic Development?" Mimeo, New York University.
97. Przeworski, Adam. 2004b. "Geography vs. Institutions Revisited: Were Fortunes Reversed?" Mimeo, New York University.
98. Putnam, Robert. 1993. Making Democracy Work: Civic Traditions in Modern Italy. Princeton, N.J.: Princeton University Press.
99. Rajan, Raghuram and Luigi Zingales. 2003. Saving Capitalism from the Capitalists: Unleashing the Power of Financial Markets to Create Wealth and Spread Opportunity. New York: Crown.
100. Robinson, Ronald E. and John Gallagher. 1961. Africa and the Victorians: The Official Mind of Imperialism. London: MacMillan.
101. Roe, Mark J. 1994. Strong Managers Weak Owners: The Political Roots of American Corporate Finance. Princeton: Princeton University Press.
102. Rubin, Paul H. 1977. "Why is the Common Law Efficient?" Journal of Legal Studies. 6, pp. 51-64.
103. Rubin, Paul H. 1982. "Common Law and Statute Law." Journal of Legal Studies. June, 11, pp. 205-33.
104. Sachs, Jeffrey. 2001. "Tropical Underdevelopment." National Bureau of Economic Research Working Paper No. 8119.
105. Schlesinger, Rudolph B., Hans W. Baade, Mirjan R. Damaska and Peter E. Herzog. 1988. Comparative Law. Case-Text-Materials. New York: Foundation Press, Inc.
106. Smith, Adam. 1776 [2000]. The Wealth of Nations, New York, N.Y.: Random House.
107. Sokoloff, Kenneth L. and Stanley L. Engerman. 2000. "History Lessons: Institutions, Factor Endowments, and Paths of Development in the New World." Journal of Economic Perspectives. 14:3, pp. 217-32.
108. Stulz, Rene and Rohan Williamson. 2003. "Culture, Openness, and Finance." Journal of Financial Economics. 70:3, pp. 313-49.
109. Tabellini, Guido. 2004. "Culture and Institutions: Economic Development in the Regions of Europe." Mimeo, IGIER, Bocconi University.
110. Taylor, Alan. 2001. American Colonies. New York, N.Y.: Viking Press.
111. Tullock, Gordon. 1980. Trials on Trial. New York: Columbia University Press.
112. Wurgler, Jeffrey. 2000. "Financial Markets and the Allocation of Capital." Journal of Financial Econonomics. October/November, 58, pp. 187-214.
113. Young, Crawford. 1994. The African Colonial State in Comparative Perspective. New Haven, Conn.: Yale University Press.
114. Zweigert, Konrad and Hein Kötz. 1998. An Introduction to Comparative Law. New York: Oxford University Press.