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Uruguay Capital Market: Law-in-the-books or Law-in-action?

Author

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  • Eduardo Siandra

    (Departmento de Economía, Facultad de Ciencias Sociales, Universidad de la República)

Abstract

This paper discusses the process of legal infrastructure reform to build better institutions for capital market development in Uruguay during the 1990s. It contains a description, a brief literature survey, an explanation, and an evaluation. From this we draw lessons and make a prospective analysis of the fate of capital market development under the new political scenario shaped by the first left-wing government in the national history. In particular we find fascinating the conundrum of a legal reform in a country in which the legislator and the politician have played a first order role in the interpretation of the law and regulating the gap between "law-in-the-books" and "law-in-action".

Suggested Citation

  • Eduardo Siandra, 2005. "Uruguay Capital Market: Law-in-the-books or Law-in-action?," Documentos de Trabajo (working papers) 0205, Department of Economics - dECON.
    • Handle: RePEc:ude:wpaper:0205
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    File URL: https://hdl.handle.net/20.500.12008/2018
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    References listed on IDEAS

    as
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    More about this item

    Keywords

    bankruptcy; capital markets; finance; common law tradition; civil law tradition; disclosure; law; legal; reform; trust;
    All these keywords.

    JEL classification:

    • G - Financial Economics
    • K - Law and Economics
    • Z13 - Other Special Topics - - Cultural Economics - - - Economic Sociology; Economic Anthropology; Language; Social and Economic Stratification

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