Documentation   Keywords  Publications  Related Studies

Title:
Law, Finance and Development Indices, 1970-2005

Subject Categories:
Economic conditions and indicators - Economics
Economic systems and development - Economics
General - Employment and labour
Legislation and legal systems - Law, crime and legal systems

Depositor(s):
Bullock, A., University of Cambridge. Centre for Business Research

Principal Investigator(s):
Deakin,S., University of Cambridge. Centre for Business Research
Armour, J., University of Oxford. Faculty of Law
Singh, A., University of Cambridge. Faculty of Economics

Sponsor(s):
Economic and Social Research Council

Grant Number:
RES-156-25-0037

Other Acknowledgements:
Data were collected by:

• Mathias Siems, The Norwich Law School, University of East Anglia
• Priya Lele, Ashurst
• Viviana Mollica, Faculty of Law, University of Cambridge

Abstract:
This study examined the links between legal systems and economic development, focusing on the relationship between law and finance. New datasets were created, charting legal change over time in the areas of shareholder protection, creditor protection and labour regulation. Indices with up to 60 indicators were used to code for the law of five significant countries (France, Germany, India, the United Kingdom and the United States of America) for 36 years (1970-2005), and reduced-form indices of 10-12 indicators to code for a wider sample (25 countries) for the period 1995-2005.

The coding methods used marked an advance on previous studies, by incorporating a wider range of legal and regulatory variables and taking into account the different ways in which regulatory rules can be expressed (as mandatory rules or as ‘defaults’ applying in the absence of contrary agreement). Time-series and panel data econometric analysis were used to test for correlations between the scores in the indices and economic performance variables.

Further information can be found on the Centre for Business Research project web page and the ESRC Award web page.

Main Topics:
The main topics covered include: law and finance, corporate governance, economic development, legal origin, comparative law, varieties of capitalism, shareholder protection, creditor protection, labour regulation, stock market development and labour market flexibility.

Coverage:
Time Period Covered: 1970-2005
5-country datasets: 1970-2005'; 25-country datasets: 1995-2005
Country: Argentina; Brazil; Canada; Chile; China; Czech Republic; France; Germany (October 1990-); India; Italy; Japan; Latvia; Mexico; Netherlands; Pakistan; Russia; Slovenia; South Africa; Spain; Sweden; Switzerland; Turkey; United Kingdom; United States; Malaysia
Spatial Units: Countries
Observation Units: Administrative units (geographical/political)
Kind of Data: Numeric data; Aggregate (macro) level

Universe Sampled:
Location of Units of Observation:Cross-national; National
Population:Legal provisions of 25 countries, 1970-2005

Methodology:
Time Dimensions: Cross-sectional (one-time) study
Sampling Procedures: No sampling (total universe)
Method of Data Collection: Compilation or synthesis of existing material
Weighting: No weighting used
Data Sources: Legal materials (statutes, case law, other relevant sources) were collected and reviewed as part of the project. The data contained in the datasets are based on the application of original algorithms or protocols for coding legal rules which were developed by the members of the project team.

Language(s) of Written Materials:
Study Description: English
Study Documentation: English

Access:
Access Conditions: The depositor has specified that registration is required and standard conditions of use apply. The depositor may be informed about usage. See terms and conditions for further information.
Availability: ESDS Access and Preservation, UK Data Archive
Contact: Help desk: help@esds.ac.uk

Date of Release:
First Edition: 13 August 2009

Copyright:
Copyright S. Deakin, J. Armour and A. Singh

READ File

Download Acrobat PDF Reader