Understanding the historic and institutional underpinnings for financial development and structure is critical, not only from an academic viewpoint but also from a policymakers’ viewpoint to formulate policies that are adequate for different institutional and historic settings.
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Legal Institutions and Financial Development, with R. Levine, in Handbook of New Institutional Economics, C. Menard and M. Shirley (eds), Kluwer Dordrecht (The Netherlands), 2004.
Law and Finance: Why does Legal Origin Matter?, with A. Demirgüç-Kunt
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Law, Endowments, and Finance, with A. Demirgüç-Kunt and R. Levine, Journal of Financial
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