The New Comparative Economics (2005)
Djankov, Simeon, Glaeser, Edward, La Porta, Rafael, Shleifer, Andrei
In recent years, the field of comparative economics refocused on the comparison of capitalist economies. The theme of the new research is that institutions exert a profound influence on economic...
The Regulation of Labor (2004)
Botero, Juan, Djankov, Simeon, La Porta, Rafael, Shleifer, Andrei
We investigate the regulation of labor markets through employment, collective relations, and social security laws in 85 countries. We find that the political power of the left is associated with more...
Botero, Juan Carlos, La Porta, Rafael, Shleifer, Andrei, Volokh, Alexander
A review of the evidence on judicial reform across countries shows that those seeking to improve economic performance should not focus on judicial efficiency alone but on independence as well. It...
La Porta, Rafael, Shleifer, Andrei, Vishny, Robert
We investigate empirically the determinants of the quality of governments in a large cross-section of countries. We assess government performance using measures of government intervention, public...
Legal Determinants of External Finance.
La Porta, Rafael, Florencio Lopez-de-Silanes, Andrei Shleifer, Robert W. Vishny
Using a sample of forty-nine countries, the authors show that countries with poorer investor protections, measured by both the character of legal rules and the quality of law enforcement, have...
Djankov, Simeon, Glaeser, Edward, La Porta, Rafael, Lopez De Silanes, Florencio, Shleifer, Andrei
In recent years, comparative economics experienced a revival, with a new focus on comparing capitalist economies. The theme of the new research is that institutions exert a profound influence on...
Djankov, Simeon, La Porta, Rafael, Shleifer, Andrei, Lopez De Silanes, Florencio
The authors present new data on the regulation of the entry of start-up firms in 85 countries. The data cover the number if procedures, official time, and official costs that a start-up firm must...
Expectations and the Cross-Section of Stock Returns.
Previous research has shown that stocks with low prices relative to book value, cash flow, earnings, or dividends (that is, value stocks) earn high returns. Value stocks may earn high returns because...
Djankov, Simeon, La Porta, Rafael, Shleifer, Andrei
We present new data on the regulation of entry of start-up firms in 85 countries. The data covers the number of procedures, official time, and official cost that a start-up must bear before it can...
Djankov, Simeon, La Porta, Rafael, Shleifer, Andrei
In cooperation with Lex Mundi member law firms in 109 countries, we measure and describe the exact procedures used by litigants and courts to evict a tenant for non-payment of rent and to collect a...
Investor Protection and Corporate Governance
La Porta, Rafael, Schleifer, Andrei, Vishny, Robert
Recent research has documented large differences among countries in ownership concentration in publicly traded firms, in the breadth and depth of capital markets, in dividend policies, and in the...
La Porta, Rafael, Shleifer, Andrei
In this paper we investigate a neglected aspect of financial systems of many countries around the world: government ownership of banks. We assemble data which establish four findings. First,...
Djankov, Simeon, La Porta, Rafael, Shleifer, Andrei
Countries differ significantly in the way they regulate the entry of new businesses. In this paper, we describe the required procedures governing entry regulation, as well as the time and the cost of...
The law and economics of self-dealing
Djankov, Simeon, La Porta, Rafael, Shleifer, Andrei
We present a new measure of legal protection of minority shareholders against expropriation by corporate insiders: the anti-self-dealing index. Assembled with the help of Lex Mundi law firms, the...
Djankov, Simeon, La Porta, Rafael, Shleifer, Andrei
We collect data on the rules and practices of financial and conflict disclosure by politicians in 175 countries. Although two thirds of the countries have some disclosure laws, less than a third make...
La protección del inversionista y la administración corporativa
La Porta, Rafael, López De Silanes, Florencio, Shleifer, Andrei, Vishny, Robert
Recent research has documented large differences among countries in ownership concentration in publicly trade firms, in the breadth and depth of capital markets, in dividend policies, and access of...