Legal Institutions, Sectoral Heterogeneity, and Economic Development
Author
Abstract
Suggested Citation
Download full text from publisher
Other versions of this item:
- Rui Castro & Gian Luca Clementi & Glenn Macdonald, 2009. "Legal Institutions, Sectoral Heterogeneity, and Economic Development," Review of Economic Studies, Oxford University Press, vol. 76(2), pages 529-561.
- Rui Castro & Gian Luca Clementi & Glenn McDonald, 2007. "Legal Institutions, Sectoral Heterogeneity, and Economic Development," Working Paper series 05_07, Rimini Centre for Economic Analysis.
- Rui Castro & Gian Luca Clementi & Glenn MacDonald, 2005. "Legal Institutions, Sectoral Heterogeneity, and Economic Development," Working Papers 05-20, New York University, Leonard N. Stern School of Business, Department of Economics.
- CASTRO, Rui & CLEMENTI, Gian Luca & MACDONALD, Glenn, 2009. "Legal Institutions, Sectoral Heterogeneity, and Economic Development," Cahiers de recherche 2009-08, Universite de Montreal, Departement de sciences economiques.
- Rui Castro & Gian Luca Clementi & Glenn MacDonald, 2004. "Legal Institutions, Sectoral Heterogeneity, and Economic Development," 2004 Meeting Papers 162, Society for Economic Dynamics.
References listed on IDEAS
- Steven J. Davis & John Haltiwanger & Ron Jarmin & Javier Miranda, 2007.
"Volatility and Dispersion in Business Growth Rates: Publicly Traded versus Privately Held Firms,"
NBER Chapters, in: NBER Macroeconomics Annual 2006, Volume 21, pages 107-180,
National Bureau of Economic Research, Inc.
- Stephen Davis & John Haltiwanger & Ron Jarmin & Javier Miranda, 2006. "Volatility and Dispersion in Business Growth Rates: Publicly Traded Versus Privately Held Firms," Working Papers 06-17, Center for Economic Studies, U.S. Census Bureau.
- Steven J. Davis & John Haltiwanger & Ron Jarmin & Javier Miranda, 2006. "Volatility and Dispersion in Business Growth Rates: Publicly Traded versus Privately Held Firms," NBER Working Papers 12354, National Bureau of Economic Research, Inc.
- Lacker, Jeffrey M & Weinberg, John A, 1989.
"Optimal Contracts under Costly State Falsification,"
Journal of Political Economy, University of Chicago Press, vol. 97(6), pages 1345-1363, December.
- Lacker, J.M., 1989. "Optimal Contracts Under Costly State Falsification," Purdue University Economics Working Papers 956, Purdue University, Department of Economics.
- John Y. Campbell & Martin Lettau & Burton G. Malkiel & Yexiao Xu, 2001.
"Have Individual Stocks Become More Volatile? An Empirical Exploration of Idiosyncratic Risk,"
Journal of Finance, American Finance Association, vol. 56(1), pages 1-43, February.
- John Y. Campbell & Martin Lettau & Burton G. Malkiel & Yexiao Xu, 2000. "Have Individual Stocks Become More Volatile? An Empirical Exploration of Idiosyncratic Risk," NBER Working Papers 7590, National Bureau of Economic Research, Inc.
- Malkiel, Burton & Campbell, John & Lettau, Martin & Xu, Yexiao, 2001. "Have Individual Stocks Become More Volatile? An Empirical Exploration of Idiosyncratic Risk," Scholarly Articles 3128707, Harvard University Department of Economics.
- Diego A. Comin & Thomas Philippon, 2006.
"The Rise in Firm-Level Volatility: Causes and Consequences,"
NBER Chapters, in: NBER Macroeconomics Annual 2005, Volume 20, pages 167-228,
National Bureau of Economic Research, Inc.
- Diego Comin & Thomas Philippon, 2005. "The Rise in Firm-Level Volatility: Causes and Consequences," NBER Working Papers 11388, National Bureau of Economic Research, Inc.
- Shleifer, Andrei & Wolfenzon, Daniel, 2002.
"Investor protection and equity markets,"
Journal of Financial Economics, Elsevier, vol. 66(1), pages 3-27, October.
- Andrei Shleifer & Daniel Wolfenson, 2000. "Investor Protection and Equity Markets," Harvard Institute of Economic Research Working Papers 1906, Harvard - Institute of Economic Research.
- Andrei Shleifer & Daniel Wolfenson, 2000. "Investor Protection and Equity Markets," NBER Working Papers 7974, National Bureau of Economic Research, Inc.
- Aghion, Philippe & Howitt, Peter, 1992.
"A Model of Growth through Creative Destruction,"
Econometrica, Econometric Society, vol. 60(2), pages 323-351, March.
- Aghion, P. & Howitt, P., 1989. "A Model Of Growth Through Creative Destruction," Working papers 527, Massachusetts Institute of Technology (MIT), Department of Economics.
- Aghion, Philippe & Howitt, Peter, 1992. "A Model of Growth Through Creative Destruction," Scholarly Articles 12490578, Harvard University Department of Economics.
- Philippe Aghion & Peter Howitt, 1990. "A Model of Growth Through Creative Destruction," NBER Working Papers 3223, National Bureau of Economic Research, Inc.
- Aghion, P. & Howitt, P., 1990. "A Model Of Growth Through Creative Destruction," DELTA Working Papers 90-12, DELTA (Ecole normale supérieure).
- Aghion, P. & Howitt, P., 1989. "A Model Of Growth Through Creative Destruction," University of Western Ontario, Departmental Research Report Series 8904, University of Western Ontario, Department of Economics.
- Francesco Caselli & Nicola Gennaioli, 2013.
"Dynastic Management,"
Economic Inquiry, Western Economic Association International, vol. 51(1), pages 971-996, January.
- Caselli, Francesco & Gennaioli, Nicola, 2003. "Dynastic Management," CEPR Discussion Papers 3767, C.E.P.R. Discussion Papers.
- Caselli, Francesco & Gennaioli, Nicola, 2006. "Dynastic management," LSE Research Online Documents on Economics 3558, London School of Economics and Political Science, LSE Library.
- Francesco Caselli & Nicola Gennaioli, 2006. "Dynastic Management," CEP Discussion Papers dp0741, Centre for Economic Performance, LSE.
- Francesco Caselli & Nicola Gennaioli, 2003. "Dynastic Management," NBER Working Papers 9442, National Bureau of Economic Research, Inc.
- Harvey, A C, 1976. "Estimating Regression Models with Multiplicative Heteroscedasticity," Econometrica, Econometric Society, vol. 44(3), pages 461-465, May.
- V. V. Chari & Patrick J. Kehoe & Ellen R. McGrattan, 1996.
"The Poverty of Nations: A Quantitative Exploration,"
NBER Working Papers
5414, National Bureau of Economic Research, Inc.
- V. V. Chari & Patrick J. Kehoe & Ellen R. McGrattan, 1997. "The poverty of nations: a quantitative exploration," Staff Report 204, Federal Reserve Bank of Minneapolis.
- N. Gregory Mankiw & David Romer & David N. Weil, 1992.
"A Contribution to the Empirics of Economic Growth,"
The Quarterly Journal of Economics, Oxford University Press, vol. 107(2), pages 407-437.
- N. Gregory Mankiw & David Romer & David N. Weil, 1990. "A Contribution to the Empirics of Economic Growth," NBER Working Papers 3541, National Bureau of Economic Research, Inc.
- N. Gregory Mankiw & David Romer & David Weil, 1990. "A Contribution to the Empirics of Economic Growth," Working Papers 1990-24, Brown University, Department of Economics.
- Diego Restuccia, 2004.
"Barriers to Capital Accumulation and Aggregate Total Factor Productivity,"
International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 45(1), pages 225-238, February.
- Diego Restuccia, 2002. "Barriers to Capital Accumulation and Aggregate Total Factor Productivity," Working Papers diegor-02-01, University of Toronto, Department of Economics.
- Ariel T. Burstein & Alexander Monge-Naranjo, 2009.
"Foreign Know-How, Firm Control, and the Income of Developing Countries,"
The Quarterly Journal of Economics, Oxford University Press, vol. 124(1), pages 149-195.
- Ariel Burstein & Alexander Monge-Naranjo, 2007. "Foreign Know-How, Firm Control, and the Income of Developing Countries," NBER Working Papers 13073, National Bureau of Economic Research, Inc.
- Heston, Alan & Summers, Robert, 1988. "What We Have Learned about Prices and Quantities from International Comparisons: 1987," American Economic Review, American Economic Association, vol. 78(2), pages 467-473, May.
- Andres Erosa & Ana Hidalgo, 2005. "On Capital Market Imperfections as a Source of Low TFP and Economic Rents," Working Papers tecipa-200, University of Toronto, Department of Economics.
- Hall, Bronwyn H, 1987.
"The Relationship between Firm Size and Firm Growth in the U.S. Manufacturing Sector,"
Journal of Industrial Economics, Wiley Blackwell, vol. 35(4), pages 583-606, June.
- Bronwyn H. Hall, 1986. "The Relationship Between Firm Size and Firm Growth in the U.S. Manufacturing Sector," NBER Working Papers 1965, National Bureau of Economic Research, Inc.
- Rui Castro & Gian Luca Clementi & Glenn MacDonald, 2004. "Investor Protection, Optimal Incentives, and Economic Growth," The Quarterly Journal of Economics, Oxford University Press, vol. 119(3), pages 1131-1175.
- Peter J. Klenow & Andrés Rodríguez-Clare, 1997. "The Neoclassical Revival in Growth Economics: Has It Gone Too Far?," NBER Chapters, in: NBER Macroeconomics Annual 1997, Volume 12, pages 73-114, National Bureau of Economic Research, Inc.
Most related items
These are the items that most often cite the same works as this one and are cited by the same works as this one.- repec:rim:rimwps:05-07 is not listed on IDEAS
- Rui Castro & Gian Luca Clementi & Yoonsoo Lee, 2015.
"Cross Sectoral Variation in the Volatility of Plant Level Idiosyncratic Shocks,"
Journal of Industrial Economics, Wiley Blackwell, vol. 63(1), pages 1-29, March.
- Rui Castro & Gian Luca Clementi & Yoonsoo Lee, 2011. "Cross-Sectoral Variation in The Volatility of Plant-Level Idiosyncratic Shocks," NBER Working Papers 17659, National Bureau of Economic Research, Inc.
- CASTRO, Rui & CLEMENTI, Gian Luca & LEE, Yoonsoo, 2014. "Cross-sectoral variation in the volatility of plant-level idiosyncratic shocks," Cahiers de recherche 2014-09, Universite de Montreal, Departement de sciences economiques.
- Rui CASTRO & Gian Luca CLEMENTI & Yoonsoo LEE, 2014. "Cross–Sectoral Variation in The Volatility of Plant–Level Idiosyncratic Shocks," Cahiers de recherche 15r-2010, Centre interuniversitaire de recherche en économie quantitative, CIREQ.
- Rui Castro & Gian Luca Clementi & Yoonsoo Lee, 2008.
"Cross-sectoral variation in firm-level idiosyncratic risk,"
Working Papers (Old Series)
0812, Federal Reserve Bank of Cleveland.
- Rui Castro & Gian Luca Clementi & Yoonsoo Lee, 2010. "Cross-Sectoral Variation in Firm-Level Idiosyncratic Risk," Working Papers 10-18, New York University, Leonard N. Stern School of Business, Department of Economics.
- CASTRO, Rui & CLEMENTI, Gian Luca & LEE, Yoonsoo, 2010. "Cross-Sectoral Variation in Firm-Level Idiosyncratic Risk," Cahiers de recherche 15-2010, Centre interuniversitaire de recherche en économie quantitative, CIREQ.
- CASTRO, Rui & CLEMENTI, Gian Luca & LEE, Yoonsoo, 2010. "Cross–Sectoral Variation in Firm–Level Idiosyncratic Risk," Cahiers de recherche 2010-07, Universite de Montreal, Departement de sciences economiques.
- Rui Castro & Gian Luca Clementi & Yoonsoo Lee, 2010. "Cross–Sectoral Variation in Firm–Level Idiosyncratic Risk," Working Paper series 28_10, Rimini Centre for Economic Analysis.
- Michelacci, Claudio & Schivardi, Fabiano, 2008.
"Does Idiosyncratic Business Risk Matter?,"
CEPR Discussion Papers
6910, C.E.P.R. Discussion Papers.
- Claudio Michelacci & Fabiano Schivardi, 2010. "Does Idiosyncratic Business Risk Matter?," Working Papers CELEG 1002, Dipartimento di Economia e Finanza, LUISS Guido Carli.
- claudio Michelacci & Fabiano Schivardi, 2008. "Does Idiosyncratic Business Risk Matter?," EIEF Working Papers Series 0813, Einaudi Institute for Economics and Finance (EIEF), revised Jul 2008.
- Diego Restuccia & Richard Rogerson, 2008.
"Policy Distortions and Aggregate Productivity with Heterogeneous Plants,"
Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 11(4), pages 707-720, October.
- Richard Rogerson & Diego Restuccia, 2004. "Policy Distortions and Aggregate Productivity with Heterogeneous Plants," 2004 Meeting Papers 69, Society for Economic Dynamics.
- Diego Restuccia & Richard Rogerson, 2007. "Policy Distortions and Aggregate Productivity with Heterogeneous Plants," NBER Working Papers 13018, National Bureau of Economic Research, Inc.
- Diego Restuccia & Richard Rogerson, 2007. "Policy Distortions and Aggregate Productivity with Heterogeneous Plants," Working Papers tecipa-283, University of Toronto, Department of Economics.
- Diego Restuccia & Richard Rogerson, 2008. "Code for "Policy Distortions and Aggregate Productivity with Heterogeneous Plants"," Computer Codes 07-48, Review of Economic Dynamics.
- Pessôa, Samuel de Abreu, 1999.
"Um modelo de acumulação de capital físico e humano: um diálogo com a economia do trabalho,"
FGV EPGE Economics Working Papers (Ensaios Economicos da EPGE)
345, EPGE Brazilian School of Economics and Finance - FGV EPGE (Brazil).
- Samuel de Abreu Pessôa, 2001. "Um Modelo de Acumulação de Capital Físico e Humano: Um Diálogo Com a Economia do Trabalho," Anais do XXIX Encontro Nacional de Economia [Proceedings of the 29th Brazilian Economics Meeting] 035, ANPEC - Associação Nacional dos Centros de Pós-Graduação em Economia [Brazilian Association of Graduate Programs in Economics].
- Nezih Guner & Gustavo Ventura & Xu Yi, 2008.
"Macroeconomic Implications of Size-Dependent Policies,"
Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 11(4), pages 721-744, October.
- Xu Yi & Nezih Guner & Gustavo Ventura, 2005. "Macroeconomic Implications of Size Dependent Policies," 2005 Meeting Papers 530, Society for Economic Dynamics.
- Guner, Nezih & Ventura, Gustavo & Xu, Yi (Daniel), 2007. "Macroeconomic Implications of Size-Dependent Policies," CEPR Discussion Papers 6138, C.E.P.R. Discussion Papers.
- Nezih Guner & Gustavo Ventura & Xu Yi, 2008. "Code for "Macroeconomic Implications of Size-Dependent Policies"," Computer Codes 07-73, Review of Economic Dynamics.
- Pedro S. Amaral & Erwan Quintin, 2005.
"Finance matters,"
Center for Latin America Working Papers
0104, Federal Reserve Bank of Dallas.
- Pedro S. Amaral & Erwan Quintin, 2005. "Finance Matters," Macroeconomics 0502007, University Library of Munich, Germany.
- John S. Landon‐Lane & Peter E. Robertson, 2009. "Factor Accumulation And Growth Miracles In A Two‐Sector Neoclassical Growth Model," Manchester School, University of Manchester, vol. 77(2), pages 153-170, March.
- Klenow, Peter J. & Rodriguez-Clare, Andres, 1997. "Economic growth: A review essay," Journal of Monetary Economics, Elsevier, vol. 40(3), pages 597-617, December.
- Chun, Hyunbae & Kim, Jung-Wook & Morck, Randall & Yeung, Bernard, 2008.
"Creative destruction and firm-specific performance heterogeneity,"
Journal of Financial Economics, Elsevier, vol. 89(1), pages 109-135, July.
- Hyunbae Chun & Jung-Wook Kim & Randall Morck & Bernard Yeung, 2007. "Creative Destruction and Firm-Specific Performance Heterogeneity," NBER Working Papers 13011, National Bureau of Economic Research, Inc.
- Charles I. Jones, 2002.
"Sources of U.S. Economic Growth in a World of Ideas,"
American Economic Review, American Economic Association, vol. 92(1), pages 220-239, March.
- Charles I. Jones, "undated". "Sources of U.S. Economic Growth in a World of Ideas," Working Papers 98009, Stanford University, Department of Economics.
- Jones, C.I., 2000. "Sources of U.S. Economic Growth in a World of Ideas," Papers 99-29, United Nations World Employment Programme-.
- Peter Howitt, 2000. "Endogenous Growth and Cross-Country Income Differences," American Economic Review, American Economic Association, vol. 90(4), pages 829-846, September.
- Daron Acemoglu & Fabrizio Zilibotti, 2001.
"Productivity Differences,"
The Quarterly Journal of Economics, Oxford University Press, vol. 116(2), pages 563-606.
- Acemoglu, D. & Zilibotti, F., 1998. "Productivity Differences," Papers 660, Stockholm - International Economic Studies.
- Acemoglu, Daron & Zilibotti, Fabrizio, 2000. "Productivity Differences," CEPR Discussion Papers 2498, C.E.P.R. Discussion Papers.
- Daron Acemoglu & Fabrizio Zilbotti, 1999. "Productivity Differences," NBER Working Papers 6879, National Bureau of Economic Research, Inc.
- Acemoglu, Daron & Zilibotti, Fabrizio, 1998. "Productivity Differences," Seminar Papers 660, Stockholm University, Institute for International Economic Studies.
- Douglas Gollin & Stephen L. Parente & Richard Rogerson, 2004.
"Farm Work, Home Work, and International Productivity Differences,"
Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 7(4), pages 827-850, October.
- Gollin, Douglas & Parente, Stephen L. & Rogerson, Richard, 2000. "Farm Work, Home Work And International Productivity Differences," 2000 Annual meeting, July 30-August 2, Tampa, FL 21797, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
- Douglas Gollin & Stephen Parente & Richard Rogerson, 2001. "Farm Work, Home Work and International Productivity Differences," Department of Economics Working Papers 2002-08, Department of Economics, Williams College.
- Richard Rogerson, 2001. "Farm Work, Home Work and International Productivity Differences," Center for Development Economics 170, Department of Economics, Williams College.
- Robert E. Hall & Charles I. Jones, 1999.
"Why do Some Countries Produce So Much More Output Per Worker than Others?,"
The Quarterly Journal of Economics, Oxford University Press, vol. 114(1), pages 83-116.
- Robert E. Hall & Charles I. Jones, 1998. "Why Do Some Countries Produce So Much More Output per Worker than Others?"," Working Papers 98007, Stanford University, Department of Economics.
- Robert E. Hall & Charles I. Jones, 1999. "Why Do Some Countries Produce So Much More Output per Worker than Others?," NBER Working Papers 6564, National Bureau of Economic Research, Inc.
- Steven J. Davis & James A. Kahn, 2008.
"Interpreting the Great Moderation: Changes in the Volatility of Economic Activity at the Macro and Micro Levels,"
Journal of Economic Perspectives, American Economic Association, vol. 22(4), pages 155-180, Fall.
- Steven J. Davis & James A. Kahn, 2008. "Interpreting the Great Moderation: changes in the volatility of economic activity at the macro and micro Levels," Staff Reports 334, Federal Reserve Bank of New York.
- Steven J. Davis & James A. Kahn, 2008. "Interpreting the Great Moderation: Changes in the Volatility of Economic Activity at the Macro and Micro Levels," NBER Working Papers 14048, National Bureau of Economic Research, Inc.
- Buch, Claudia M. & Döpke, Jörg & Stahn, Kerstin, 2008. "Great moderation at the firm level? Unconditional versus conditional output volatility," Discussion Paper Series 1: Economic Studies 2008,13, Deutsche Bundesbank.
- Adriana Di Liberto, 2007.
"Convergence and Divergence in Neoclassical Growth Models with Human Capital,"
Economia politica, Società editrice il Mulino, issue 2, pages 289-322.
- A. Di Liberto, 2005. "Convergence and divergence in Neoclassical Growth models with human capital," Working Paper CRENoS 200508, Centre for North South Economic Research, University of Cagliari and Sassari, Sardinia.
- World Bank Group, "undated". "Africa's Pulse, No. 18, October 2018," World Bank Publications - Reports 30455, The World Bank Group.
- Bonfiglioli, Alessandra, 2012.
"Investor protection and income inequality: Risk sharing vs risk taking,"
Journal of Development Economics, Elsevier, vol. 99(1), pages 92-104.
- Bonfiglioli, Alessandra, 2010. "Investor Protection and Income Inequality: Risk Sharing vs Risk Taking," CEPR Discussion Papers 7853, C.E.P.R. Discussion Papers.
- Alessandra Bonfiglioli, 2010. "Investor Protection and Income Inequality: Risk Sharing vs Risk Taking," UFAE and IAE Working Papers 827.10, Unitat de Fonaments de l'Anàlisi Econòmica (UAB) and Institut d'Anàlisi Econòmica (CSIC).
- Alessandra Bonfiglioli, 2010. "Investor Protection and Income Inequality: Risk Sharing vs Risk Taking," Working Papers 461, Barcelona Graduate School of Economics.
More about this item
Keywords
Macroeconomics; Investment Rate; Overlapping Generations; Relative Prices; Investor Protection; Optimal Contracts;All these keywords.
JEL classification:
- E22 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Investment; Capital; Intangible Capital; Capacity
- F43 - International Economics - - Macroeconomic Aspects of International Trade and Finance - - - Economic Growth of Open Economies
- G32 - Financial Economics - - Corporate Finance and Governance - - - Financing Policy; Financial Risk and Risk Management; Capital and Ownership Structure; Value of Firms; Goodwill
- G38 - Financial Economics - - Corporate Finance and Governance - - - Government Policy and Regulation
- O16 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Financial Markets; Saving and Capital Investment; Corporate Finance and Governance
- O17 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Formal and Informal Sectors; Shadow Economy; Institutional Arrangements
- O41 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - One, Two, and Multisector Growth Models
Statistics
Access and download statisticsCorrections
All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:mtl:montec:09-2009. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: . General contact details of provider: https://edirc.repec.org/data/cdmtlca.html .
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Sharon BREWER (email available below). General contact details of provider: https://edirc.repec.org/data/cdmtlca.html .
Please note that corrections may take a couple of weeks to filter through the various RePEc services.