Law, Finance and Investment: Does Legal Origin Matter in Africa?
Review of Black Political Economy, 41(2), pp. 145-175 (2014).
40 Pages Posted: 9 Sep 2014 Last revised: 1 Apr 2015
Date Written: November 8, 2011
This paper assesses if legal origin explains domestic, foreign, private and public investments through financial intermediary channels of depth, efficiency, activity and size. The findings show that legal origin matters in the finance-investment nexus, though its ability to explain aggregate investment dynamics only through financial intermediary channels is limited in the cases of private and public investments.
Keywords: Law; Finance; Investment; Developing countries
JEL Classification: E22; K20; K40; P50
Suggested Citation: Suggested Citation