Skip Navigation

American Law and Economics Review 2005 7(1):211-252; doi:10.1093/aler/ahi006
This Article
Right arrow Full Text
Right arrow Full Text (PDF)
Right arrow Alert me when this article is cited
Right arrow Alert me if a correction is posted
Services
Right arrow Email this article to a friend
Right arrow Similar articles in this journal
Right arrow Alert me to new issues of the journal
Right arrow Add to My Personal Archive
Right arrow Download to citation manager
Right arrowRequest Permissions
Google Scholar
Right arrow Articles by Demirgüç-Kunt, T. B. A.
Right arrow Articles by Levine, R.
Right arrow Search for Related Content
Related Collections
Right arrow G32 - Financing Policy; Financial Risk and Risk Management; Capital and Ownership Structure
Right arrow K22 - Corporation and Securities Law
Right arrow K40 - General
Social Bookmarking
Add to CiteULike   Add to Connotea   Add to Del.icio.us  
What's this?

© The Author 2005. Published by Oxford University Press on behalf of the American Law and Economics Association. All rights reserved. For permissions, please e-mail: journals.permissions@oupjournals.org

Law and Firms’ Access to Finance

Thorsten Beck Asli Demirgüç-Kunt

The World Bank

Ross Levine

Carlson School of Management, University of Minnesota, and National Bureau of Economic Research

Send correspondence to: Thorsten Leo Beck, The World Bank, 1818 H Street NW, Mail Stop MC 3-300, Washington, DC 20433; E-mail: tbeck{at}worldbank.org.

This article examines how a country’s legal origin influences the operation of its financial system by using firm-level survey data across a broad cross-section of countries on the obstacles that firms face in raising external finance. Using panel regressions, the article assesses two channels through which legal origin may influence the financial system. We find that the adaptability of a country’s legal system is more important for explaining the obstacles that firms face in accessing external finance than the political independence of the judiciary.


Add to CiteULike CiteULike   Add to Connotea Connotea   Add to Del.icio.us Del.icio.us    What's this?


This article has been cited by other articles:


Home page
 Cambridge J EconHome page
P. Sarkar and A. Singh
Law, finance and development: further analyses of longitudinal data
Camb. J. Econ., September 26, 2009; (2009) bep055v1.
[Abstract] [Full Text] [PDF]

Home page
 WORLD BANK ECON REVHome page
T. Beck, A. Demirguc-Kunt, and M. S. Martinez Peria
Banking Services for Everyone? Barriers to Bank Access and Use around the World
World Bank Econ. Rev., November 7, 2008; (2008) lhn020v1.
[Abstract] [Full Text] [PDF]

Home page
 REV FINANC STUDHome page
M. Ayyagari, A. Demirguc-Kunt, and V. Maksimovic
How Well Do Institutional Theories Explain Firms' Perceptions of Property Rights?
Rev. Financ. Stud., July 1, 2008; 21(4): 1833 - 1871.
[Abstract] [Full Text] [PDF]


Disclaimer: Please note that abstracts for content published before 1996 were created through digital scanning and may therefore not exactly replicate the text of the original print issues. All efforts have been made to ensure accuracy, but the Publisher will not be held responsible for any remaining inaccuracies. If you require any further clarification, please contact our Customer Services Department.