The effect of dynamic legal tradition on financial development: panel data evidence
This study examines the effect of dynamic legal tradition on financial development. In line with the theory of “dynamic legal tradition” proposed by Beck et al. (Law, politics, and finance. World Bank, Washington, DC, 2001), political variables are employed in the analysis to assess whether these va...
| Main Authors: | , , |
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| Format: | Article |
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Springer
2013
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| Online Access: | http://psasir.upm.edu.my/id/eprint/28298/ |
| _version_ | 1848846078123704320 |
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| author | Voghouei, Hatra Mohamed, Azali Law, Siong Hook |
| author_facet | Voghouei, Hatra Mohamed, Azali Law, Siong Hook |
| author_sort | Voghouei, Hatra |
| building | UPM Institutional Repository |
| collection | Online Access |
| description | This study examines the effect of dynamic legal tradition on financial development. In line with the theory of “dynamic legal tradition” proposed by Beck et al. (Law, politics, and finance. World Bank, Washington, DC, 2001), political variables are employed in the analysis to assess whether these variables could affect the legal environment and hence financial development in countries with different adaptability. The empirical results from the panel data of 60 counties for the period 1980–2006, show that political power could change the legal environment, especially in common law countries, which in turn could affect the development of financial systems. The result demonstrates that political factors that promote shareholder rights greatly influence the development of financial system followed by political factors that promote investor protection. |
| first_indexed | 2025-11-15T08:56:59Z |
| format | Article |
| id | upm-28298 |
| institution | Universiti Putra Malaysia |
| institution_category | Local University |
| last_indexed | 2025-11-15T08:56:59Z |
| publishDate | 2013 |
| publisher | Springer |
| recordtype | eprints |
| repository_type | Digital Repository |
| spelling | upm-282982015-07-25T11:18:54Z http://psasir.upm.edu.my/id/eprint/28298/ The effect of dynamic legal tradition on financial development: panel data evidence Voghouei, Hatra Mohamed, Azali Law, Siong Hook This study examines the effect of dynamic legal tradition on financial development. In line with the theory of “dynamic legal tradition” proposed by Beck et al. (Law, politics, and finance. World Bank, Washington, DC, 2001), political variables are employed in the analysis to assess whether these variables could affect the legal environment and hence financial development in countries with different adaptability. The empirical results from the panel data of 60 counties for the period 1980–2006, show that political power could change the legal environment, especially in common law countries, which in turn could affect the development of financial systems. The result demonstrates that political factors that promote shareholder rights greatly influence the development of financial system followed by political factors that promote investor protection. Springer 2013 Article PeerReviewed Voghouei, Hatra and Mohamed, Azali and Law, Siong Hook (2013) The effect of dynamic legal tradition on financial development: panel data evidence. European Journal of Law and Economics, 35 (1). pp. 109-136. ISSN 0929-1261; ESSN: 1572-9990 http://link.springer.com/article/10.1007%2Fs10657-010-9191-x 10.1007/s10657-010-9191-x |
| spellingShingle | Voghouei, Hatra Mohamed, Azali Law, Siong Hook The effect of dynamic legal tradition on financial development: panel data evidence |
| title | The effect of dynamic legal tradition on financial development: panel data evidence |
| title_full | The effect of dynamic legal tradition on financial development: panel data evidence |
| title_fullStr | The effect of dynamic legal tradition on financial development: panel data evidence |
| title_full_unstemmed | The effect of dynamic legal tradition on financial development: panel data evidence |
| title_short | The effect of dynamic legal tradition on financial development: panel data evidence |
| title_sort | effect of dynamic legal tradition on financial development: panel data evidence |
| url | http://psasir.upm.edu.my/id/eprint/28298/ http://psasir.upm.edu.my/id/eprint/28298/ http://psasir.upm.edu.my/id/eprint/28298/ |