Year: 2009
Type: article
Abstract: In line with Law and Finance literature, this work investigates the relationship between investor protection and macroeconomic efficiency. We apply the stochastic frontier model proposed by Battese and Coelli [1995] on a sample of countries to estimate macroeconomic efficiency. Three measures of investor protection from La Porta et al. [1998] are used. We show that protection of shareholder rights and rule of law have a positive link with macroeconomic efficiency, while evidence is mixed for protection of creditor rights. Classification JEL: C31, K40, O4.
Source: Revue économique
Authors: Thomas Barnay, Sophie Béjean
Language: French
Topic: Global Health Care Issues
Subfield: General Health Professions
Field: Health Professions
Domain: Health Sciences
Open Access status: bronze
OpenAlex ID: W1577959345