Economic fluctuations and growth we revisit the debate over whether political institutions cause economic growth, or whether, alternatively, growth and human capital accumulation lead to institutional improvement. July 2009 american economic journal economic policy. Marianne bertrand, simeon djankov, rema hanna and sendhil mullainathan, 2007. Vishny, law and finance, journal of political economy 106, no. Nov 18, 2012 according to equation 3, productivity depends on a regionspecific factors, which capture geography, institutions, and other influences.
Lopezdesilanes case rattles community yale daily news. This paper analyzes recent trends in latin americas institutional development regarding to investor protection. Browse the amazon editors picks for the best books of 2019, featuring our favorite reads. Download it once and read it on your kindle device, pc, phones or tablets. Rutherford professor of agricultural and applied economics. Laporta, rafael, florencio lopezdesilanes, andrei shleifer, and robert vishny.
Corporate governance in latin america by alberto chong. Journal of comparative economics 31 2003 595619 601. Corporate ownership around the world porta 1999 the. The new comparative economics with simeon djankov, edward l. The centre for economic policy research was established in 1983 as a. Article pdf available in journal of comparative economics. Current information and listing of economic research for florencio lopezdesilanes with repec shortid plo7 advanced search economic literature. Facebook gives people the power to share and makes the world more open and. The recent wave of terrorist attacks has increased the attention paid to money laundering activities. Professor florencio lopezdesilanes, phd, edhec business school 2 employment professor of finance and law, and director of corporate governance research program, edhec business school, france, 2007 to present. His research interests and main publications fall in the areas of international corporate finance and financial markets, legal reform and privatization. Read, highlight, and take notes, across web, tablet, and phone. The divergence of legal procedures by aron balas, florencio. Human capital and regional development the quarterly.
Florencio lopezdesilanes, phd education edhec business. We document the wide dispersion of private equity investment returns and examine performance determinants using a newly constructed database of 7,500 investments worldwide. A read is counted each time someone views a publication summary such as the title, abstract, and list of authors, clicks on a figure, or views or downloads the fulltext. Johnson, simon, rafael laporta, florencio lopezdesilanes, and andrei shleifer. Finding equilibriumlosing economics comment on the book finding equilibrium by duppe, t. Using several methodologies, this paper investigates empirically the determinants of money laundering and its regulation in over 80 countries by assembling a crosscountry dataset on proxies for money laundering and the prevalence of feeding activities. Human capital and regional development, economics working papers 1286, department of. Money laundering and its regulation by alberto chong.
The professor accepted responsibility for the charges brought against him and has chosen to leave yale because it is the right thing to do, fleming said. The economic consequences of legal origins american. He has many publications in top finance and economics journals and has recently published two books on investor protection and the benefits of privatization in. The regulation of labor quarterly journal of economics vol. Published in volume 46, issue 2, pages 285332 of journal of economic literature, june 2008, abstract. The new comparative economics, journal of comparative economics, 2003, v314,dec, 595619. We revisit the debate over whether political institutions cause economic growth, or whether, alternatively, growth and human capital accumulation lead to institutional improvement. Their combined citations are counted only for the first article.
Economics and politics, 2015, 27, 1, 78123 view citations 5 see also working paper 2011 2014. Vishny university of chicago this paper examines legal rules covering protection of corporate shareholders and creditors, the origin of these rules, and the quality of their enforcement in 49 countries. When investor rights such as the voting rights of the shareholders and the reorganization and liquidation rights of the creditorsare extensive and well enforced by regulators or courts, investors are willing to finance firms. Corporate finance, law and economics we present a new measure of legal protection of minority shareholders against expropriation by corporate insiders.
Jan 14, 2005 lopezdesilanes attorney, peter fleming, did not return phone calls requesting comment in recent days, but issued a statement on behalf of lopezdesilanes on monday. The failure of judges and the rise of regulators walras. Alberto chong is a researcher at the interamerican development bank iadb. Privatization in latin america represents the first systemic economic analysis of the. Laporta, rafael, florencio lopezdesilanes, and andrei shleifer.
Simeon djankov london school of economics and political science. Access statistics for papers by florencio lopezdesilanes. Journal of economic literature american economic association. We are grateful to alex chang, mark chen, and magdalena lopez morton for research assistance, to ed glaeser, stewart myers, and luigi zingales for helpful comments. Handbook of the economics of finance vol 2, part a, pages 1. The law and economics of selfdealing, journal of financial economics, elsevier, vol. In spite of the underdevelopment of the regions financial markets, there is slow movement towards legal reforms intended to protect investors and make regional markets more attractive to investors. Vishny nber working paper 5661 national bureau of economic research 1050 massachusetts avenue cambridge, ma 028 july 1996 we are grateful to mark chen, steven friedman, magdalena bpezmorton, and katya zhuravskaya. Unusually coherent for an edited volume, the book is impressive in its.
About the author alberto chong is a researcher at the interamerican development bank iadb. The economic consequences of legal origins andrei shleifer. The failure of judges and the rise of regulators gathers shleifers influential writings on regulation and adds to them a substantial introductory essay in which shleifer critiques the standard theories of economic regulation and proposes the enforcement theory of regulation, which sees regulation as the more efficient strategy for social. Bertrand, marianne, simeon djankov, rema hanna and sendhil mullainathan 2007. Human capital and regional development, working papers 581, barcelona graduate school of economics. To examine the shape of the ipf and institutional choices in more concrete terms, consider the problem of social control of business. Florencio lopezdesilanes, phd edhec business school. We find that most indicators of institutional quality used to establish the proposition that institutions cause growth are constructed to be conceptually unsuitable for that purpose. In the last decade, economists have produced a considerable body of research suggesti. Pseedhec chair in law and economics and professeur invite deconomie, ecole normale.
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