Protection des investisseurs et efficience macroéconomique
In line with Law and Finance literature, this work investigates the relationship between investor protection and macroeconomic efficiency. We apply the stochastic frontier model proposed by Battese and Coelli  on a sample of countries to estimate macroeconomic efficiency. Three measures of investor protection from La Porta et al.  are used. We show that protection of shareholder rights and rule of law have a positive link with macroeconomic efficiency, while evidence is mixed for protection of creditor rights. Classification JEL : C31, K40, O4.
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