Trend of Legal Globalisation and Stock Market Development
The purpose of this paper is to analyze some leximetric data for a number of developed and less developed countries hitherto unavailable to examine (i) the changing state of shareholder protection and (ii) its connection with stock market development and capital accumulation. It finds a strong evidence of legal globalisation but no evidence of its favourable link with stock market development and capital formation.
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2907526, Harvard University Department of Economics.
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Money Macro and Finance (MMF) Research Group Conference 2006
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