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The law and finance view stressesthat differentlegal traditions emphasizeto differingdegreesthe rightsof individualinvestorsrelativeto the state,which has important ramificationsfor financialdevelopment. The dynamiclaw and finance view augmentsthe law and financeview,stressingthat legaltraditions also differ in their abilityto adapt to changingconditions.The politics and financeview rejectsthe central role of legal tradition,stressinginsteadthat politicalfactors shape financialdevelopment. The endowmentview arguesthat the mortalityrates of Europeansettlers as they colonizedvariousparts of the globe influencedthe institutionsthey initiallycreated, which has had enduringeffectson institutionstoday.
How does the lack of legitimacy of property rights affect the dynamics of the creation of the rule of law? We investigate the demand for the rule of law in post-Communist economies after privatization under the assumption that theft is possible, that...
While precise impact of Brexit on the EU/UK trade and investment agreements with third countries will depend primarily on the terms of the withdrawal agreement to be concluded between them, most scenarios suggest an extensive process of amendment of ...
Although low tax morale hits developing countries hardest, little is known about its determinants in those countries. This paper examines the impact of trust in public institutions and the neighborhood on individual tax morale in four African countri...
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