Proceedings of the Conference on Globalization and Its Discontents

Abstract

The purpose of this paper is to analyze some leximetric data for a number of developed and less developed countries hitherto unavailable to examine (i) the changing state of shareholder protection and (ii) its connection with stock market development and capital accumulation. It finds a strong evidence of legal globalisation but no evidence of its favourable link with stock market development and capital formation.Legal Globalisation, Stock Market Development