Continued Research on Law and Finance

National Bureau Of Economic Research Inc, Cambridge MA

Investigators

Abstract

This research investigates comparative institutions of corporate governance and financial regulation around the world. The organizing theme is the difference in legal traditions among countries, and their implications for the structure of the economy. The research is divided into three broad areas: 1) empirical investigation of investor protection in financial markets, especially in the context of securities laws, 2) theoretical research on the structure of laws and their enforcement, and 3) broader empirical investigation of legal institutions in different countries, particularly as related to their legal traditions. The ultimate goal of this research is to have an integrated view of the differences in legal and regulatory frameworks, and more generally in the relationship between the government and the private sector, among market economies. We would like to understand the systematic and measurable differences in how market economies are organized.