An Institutional Critique
Full access
Agnello, Richard J. and Lawrence P. Donnelley (1975a), ‘Price and property rights in fisheries’, Southern Economic Journal, 4, 253–62.
Agnello, Richard J. and Lawrence P. Donnelley (1975b), ‘Property rights and efficiency in the oyster industry’, Journal of Law and Economics, 18, 521–33.
Ahlering, Beth and Simon Deakin (2007), ‘Labour regulation, corporate governance and legal origin’, Law and Society Review, 41, 865–908.
Allen, Franklin and Douglas Gale (2000), ‘Corporate governance and competition’, in Xavier Vives (ed.), Corporate Governance: Theoretical and Empirical Perspectives, Cambridge: Cambridge University Press, pp.23–94.
Angang, Hu (2015), ‘Embracing China’s “new normal”’, Foreign Affairs, 94(3), May/June, available at (accessed 6 February 2017).
Anku-tsede, Olivia (2010), Regulating the financial sector: the case of Susu in Ghana, PhD Thesis, School of Law, University of Manchester.
Arcand, Jean-Louis, Enrico Berkes and Ugo Panizza (2012), ‘Too much finance?’, IMF Working Paper, WP/12/161, Washington, DC.
Armour, John, Simon Deakin, Prabirjit Sarkar, Mathias Siems and Ajit Singh (2009), ‘Shareholder protection and stock market development: an empirical test of the Legal Origins Hypothesis’, Journal of Empirical Legal Studies, 6(2), 343–80.
Arnason, Ragnar (2012), ‘Property rights in fisheries: how much can individual transferable quotas accomplish?’, Review of Environmental Economics and Policy, 6(2), 217–36.
Arrow, Kenneth J. (1961), ‘The organization of economic activity: issues pertinent to the choice of market versus non-market allocation’, in The Analysis and Evolution of Public Expenditure: The PPB System, Vol. 1, US Joint Economic Committee, 91st Congress, 1st Session, Washington, DC: US Government Printing Office, pp.59–73.
Arruñada, Benito (2007), ‘Pitfalls to avoid when measuring institutions: is doing business damaging business?’, Journal of Comparative Economics, 35(4), 729–47.
Ayyagari, Meghana, Asli Demirgüç-Kunt and Vojislav Maksimovic (2008), ‘How important are financing constraints? The role of finance in the business environment’, The World Bank Economic Review, 22(3), 483–516.
Azfar, Omar and Thornton Matheson (2003), ‘Market-mobilized capital’, Public Choice, 117, 357–72.
Beck, Thorsten (2011), ‘The role of finance in economic development: benefits, risks and politics’, European Banking Center, Discussion Paper No. 2011-038, Tilburg University.
Beck, Thorsten and Ross Levine (2004), ‘Stock markets, banks, and growth: panel evidence’, Journal of Banking & Finance, 28, 423–42.
Beck, Thorsten, Ross Levine and Norman Loayza (2000), ‘Finance and the sources of growth’, Journal of Financial Economics, 58, 261–300.
Beck, Thorsten, Asli Demirgüç-Kunt and Ross Levine (2001), ‘Legal theories of financial development’, Oxford Review of Economic Policy, 17(4), 483–501.
Beck, Thorsten, Asli Demirgüç-Kunt and Ross Levine (2004), ‘Finance, inequality and poverty: cross-country evidence’, World Bank Policy Research Working Paper 3338, June.
Beck, Thorsten, Asli Demirgüç-Kunt and Maria Soledad Martinez Peria (2005), ‘Reaching out: access to and use of banking services across countries’, World Bank Policy Research Working Paper 3754, Washington, DC, October.
Beck, Thorsten, Asli Demirgüç-Kunt and Maria Soledad Martinez Peria (2006), ‘Banking services for everyone? Barriers to bank access and use around the world’, World Bank Policy Research Working Paper 4079, Washington, DC, December
Beck, Thorsten, Beerak Buyukkarabacak, Felix Riojo and Neven Valev (2008), ‘Who gets credit? And does it matter? Household vs firm lending across countries’, World Bank Policy Research Paper, Washington, DC, July.
Bell, Frederick W. (1972), ‘Technological externalities and common property resources’, Journal of Political Economy, 80, 148–58.
Berglöf, Erik and Gérard Roland (2006), ‘Introduction: economics and transition’, in Erik Berglöf and Gérard Rolad (eds), The Economics of Transition: The Fifth Nobel Symposium in Economics, Basingstoke: Palgrave Macmillan, pp.1–11.
Berkowitz, Daniel, Katharina Pistor and Jean-Francois Richard (2003), ‘Economic development, legality, and the transplant effect’, European Economic Review, 47, 165–95.
Berkowitz, Daniel, Chen Lin and Yue Ma (2015), ‘Do property rights matter? Evidence from a property law enactment’, Journal of Financial Economics, 116, 583–93.
Bernstein, Lisa (1992), ‘Opting out of the legal system: extralegal contractual relations in the diamond industry’, Journal of Legal Studies, 21(1), 115–57.
Besley, Timothy J., Konrad B. Burchardi and Maitreesh Ghatak (2012), ‘Incentives and the de Soto effect’, Quarterly Journal of Economics, 127, 237–82.
Blanchard, Olivier J., Rudiger Dornbusch, Richard Layard, Lawrence H. Summers and Paul Krugman (1993) Reform in Eastern Europe, Cambridge, MA: MIT Press.
Bottomley, A. (1963), ‘The effect of the common ownership of land upon resource allocation in Tripolitania’, Land Economics, 39(1), 91–5.
Brändle, Udo C. (2005), ‘Shareholder protection in the USA and Germany – “Law and Finance” revisited’, German Law Journal, 7(3), 257–78.
Breuer, Wolfgang and Astrid Juliane Salzmann (2012), ‘National culture and corporate governance’, in Sabri Boubaker, Bang D. Nguyen and Duc K. Nguyen (eds), Corporate Governance: Recent Developments and New Trends, Heidelberg, New York, Dordrecht, London: Springer Verlag.
Caprio, Gerard, Luc Laeven and Ross Levine (2007), ‘Governance and bank valuation’, Journal of Financial Intermediation, 16, 584–617.
Carlin, Wendy and Colin Mayer (2000), ‘How do financial systems affect economic performance?’, in Xavier Vives (ed.), Corporate Governance: Theoretical and Empirical Perspectives, Cambridge: Cambridge University Press, pp.137–66.
Carter, M.R. and P. Olinto (2003), ‘Getting institutions “right” for whom? Credit constraints and the impact of property rights on the quantity and composition of investment’, American Journal of Agricultural Economics, 85(1), 173–86.
Chang, Ha-Joon (2007), The East Asian Development Experience: The Miracle, the Crisis and the Future, London: Zed Books.
Chen, Ding, Simon Deakin, Mathias Siems and Boya Wang (2017), ‘Law, trust and institutional change in China: evidence from qualitative fieldwork’, Journal of Corporate Law Studies, doi: 10.1080/14735970.2016.1270252
Claessens, Stijn and Luc Laeven (2003), ‘Financial development, property rights, and growth’, Journal of Finance, LVIII (6), 2401–36.
Clarke, George R.G., Robert Cull and Mary M. Shirley (2005), ‘Bank privatization in developing countries: a summary of lessons and findings’, Journal of Banking & Finance, 29, 1905–30.
Coase, Ronald H. (1937), ‘The nature of the firm’, Economica (New Series), 4, 386–405.
Coase, Ronald H. (1960), ‘The problem of social cost’, Journal of Law and Economics, 3, 1–44.
Coase, Ronald H. (1992), ‘The industrial structure of production’, American Economic Review, 83, 713–19.
Cools, Sofie (2005), ‘The real difference in corporate law between the United States and Continental Europe: distribution of powers’, Delaware Journal of Corporate Law, 30, 697–733.
Corbett, Jenny and Colin Mayer (1991) ‘Financial reform in Eastern Europe: progress with the wrong model’, Oxford Review of Economic Policy, 7(4), 57–75.
Dahlman, Carl J. (1979), ‘The problem of externality’, Journal of Law and Economics, 22(1), 141–62.
Dam, Kenneth W. (2006), ‘Credit markets, creditors’ rights and economic development’, John M. Olin Law & Economics Working Paper No. 281 (2D Series), University of Chicago Law School.
Davis, Kevin E. and Michael J. Trebilcock (2008), ‘The relationship between law and development: optimists versus skeptics’, American Journal of Comparative Law, 56, 895.
Davis, Lance E. and Douglass C. North (1971), Institutional Change and American Economic Growth, Cambridge: Cambridge University Press.
De Alessi, Louis (1980), ‘The economics of property rights: a review of the literature’, Research in Law and Economics, 2, 1–47.
de Laglesia, Juan R. (2005) ‘Investment and credit effects of land titling and registration’, in Proceedings of the German Development Economics Conference, Kiel, Verein für Socialpolitik, Research Committee Development Economics, No. 10.
de Soto, Hernando (1989), The Other Path, New York: Basic Books.
de Soto, Hernando (2000), The Mystery of Capital: Why Capitalism Triumphs in the West and Fails Everywhere Else, New York: Basic Books.
Deakin, Simon, David Gindis, Geoffrey M. Hodgson, Kainan Huang and Katharina Pistor (2017), ‘Legal institutionalism: capitalism and the constitutive role of law’, Journal of Comparative Economics, 45, 188–200.
Deininger, Klaus and J.S. Chamorro (2004), ‘Investment and income effects of land regularization: the case of Nicaragua’, Agricultural Economics, 30(2),101–16.
Deininger, Klaus and Gershon Feder (2009), ‘Land registration, governance, and development: evidence and implications for policy’, World Bank Research Observer, 24(2), 233–66.
Deininger, Klaus and Aparajita Goyal (2012), ‘Going digital: credit effects of land registry computerization in India’, Journal of Development Economics, 99, 236–43.
Demirgüç-Kunt, Aslı (2006), ‘Finance and economic development: policy choices for developing countries’, World Bank Policy Research Working Paper 3955, Washington, DC, June.
Demirgüç-Kunt, Aslı and Leora Klapper (2013), ‘Measuring financial inclusion: explaining variation in use of financial services across and within countries’, Brookings Papers on Economic Activity, Spring, 279–340.
Djankov, Simeon, Rafael La Porta, Florencio Lopez-de-Silanes and Andrei Shleifer (2002), ‘The regulation of entry’, Quarterly Journal of Economics, 117, 1–37.
Djankov, Simeon, Caralee McLiesh and Andrei Shleifer (2005), ‘Private credit in 129 countries’, NBER Working Paper 11078, National Bureau of Economic Research, Cambridge, MA.
Djankov, Simeon, Caralee McLiesh and Rita Maria Ramalho (2006), ‘Regulation and growth’, Economic Letters, 92, 395–401.
Djankov, Simeon, Caralee McLiesh and Andrei Shleifer (2007), ‘Private credit in 129 countries’, Journal of Financial Economics, 84, 299–329.
Djankov, Simeon, Rafael La Porta, Florencio Lopez-de-Silanes and Andrei Shleifer (2008), ‘The law and economics of self-dealing’, Journal of Financial Economics, 88, 430–65.
Duxbury, Neil (1995), Patterns of American Jurisprudence, Oxford: Oxford University Press.
Eccles, Robert G. (1981), ‘The quasi-firm in the construction industry’, Journal of Economic Behavior & Organization, 2(4), 335–57.
Ellickson, Robert C. (1991), Order Without Law: How Neighbours Settle Disputes, Cambridge, MA: Harvard University Press.
Feder, Gershon and Tongroj Onchan (1987), ‘Land ownership security and farm investment in Thailand’, American Journal of Agricultural Economics, 69, 311–20.
Feder, Gershon, Tongroj Onchan, Y. Chalamwong and C. Hongladarom (1988), Land Policies and Farm Productivity in Thailand, Washington, DC, Baltimore, MD and London: World Bank and Johns Hopkins University Press.
Field, Erica (2005), ‘Property rights and investment in urban slums’, Journal of the European Economic Association, 3(2–3), 279–90.
Field, Erica and Alfred J. Field (2006), ‘Globalization, crop choice and property rights in rural Peru, 1994–2004’, International Food Policy Research Institute (IFPRI), MTID Discussion Papers.
Field, Erica and Máximo Torero (2005), ‘Impact of land titles over rural households’, Office of Evaluation and Oversight (OVE), Inter-American Development Bank, Working Paper OVE/WP-07/, Washington, DC, 1 August.
Field, Erica and Maximo Torero (2006), ‘Do property titles increase credit access among the urban poor? Evidence from a nationwide titling program’, mimeo, Harvard University.
Frank, Andre Gunder (1966), ‘The development of underdevelopment’, Monthly Review, 18, 17–31.
Frank, Andre Gunder (1969), Latin America: Underdevelopment or Revolution, New York: Monthly Review Press.
Furubotn, E. and S. Pejovich (1972), ‘Property rights and economic theory: a survey of recent literature’, Journal of Economic Literature, X(4), 1137–63.
Furubotn, Eric G. and Rudolf Richter (2000), Institutions and Economic Theory: The Contribution of the New Institutional Economics, Ann Arbor, MI: University of Michigan Press.
Galiani, S. and E. Schargrodsky (2010), ‘Property rights for the poor: effects of land titling’, Journal of Public Economics, 94(9–10), 700–29.
Glick, T.F. (1970), Irrigation and Society in Medieval Valencia, Cambridge, MA: Harvard University Press.
Goldberg, Victor P. (1984), ‘A relational exchange perspective on the employment relationship’, in Frank H. Stephen (ed.), Firms, Organization and Labour: Approaches to the Economics of Work Organization, London and New York: Macmillan and St Martin’s Press, Chapter 8.
Goldstein, Andrea (1996), ‘Privatizations and corporate governance in France’, BNL Quarterly Review, 199, December, 457–88.
Greif, Avner (1989), ‘Reputation and coalitions in medieval trade: evidence on the Maghribi traders’, Journal of Economic History, XLIX, 857–82.
Greif, Avner (1993), ‘Contract enforceability and economic institutions in early trade: the Maghribi traders’ coalition’, American Economic Review, 83(3), 525–48.
Gwartney, James and Robert Lawson (2000), Economic Freedom of the World: 2000 Annual Report, London: Institute for Economic Affairs.
Hardin, Garret (1968), ‘The tragedy of the commons’, Science, 162, 1243–8.
Heitger, Bernhard (2004), ‘Property rights and the wealth of nations: a cross-country study’, Cato Journal, 23, 381–402.
Hodgson, Geoffrey M. (2006), ‘What are institutions?’, Journal of Economic Issues, XL(1), 1–25.
Hofstede, Geert H. (2001), Culture’s Consequences: Comparing Values, Behaviors, Institutions and Organizations across Nations (2nd edn), London: Sage Publications.
Hofstede, Geert H., Geert Jan Hofstede and Michael Minkov (2010), Cultures and Organizations: Software of the Mind (3rd edn), London: McGraw-Hill.
Holcombe, Randall G. and Russell S. Sobel (2001), ‘Public policy towards pecuniary externalities’, Public Finance Review, 29(4), 304–25.
Honore, A.M. (1961), ‘Ownership’, in A.G. Guest (ed.), Oxford Essays in Jurisprudence, Oxford: Clarendon Press, pp.107–47.
Johnson, S., J. McMillan and C. Woodruff (2002), Property rights and finance’, American Economic Review, 92(5), 1335–56.
Kaufmann, Daniel, Aart Kraay and Pablo Zoido-Lobaton (2002), ‘Governance matters II – updated indicators for 2000–01’, World Bank Policy Research Working Paper Series 2772, Washington, DC.
Kelley, Judith G., Beth A. Simmons and Rush Doshi (2016), ‘The power of ranking: the ease of doing business indicator as a form of social pressure’, Paper presented at the Annual Meeting of the American Political Science Association Mini-Conference on Assessment Power in World Politics, Philadelphia, PA, 2 September.
Kerekes, Carrie B. and Claudia R. Williamson (2008), ‘Unveiling de Soto’s mystery: property rights, capital formation, and development’, Journal of Institutional Economics, 4(3), 299–325.
King, Robert G. and Ross Levine (1993), ‘Finance and growth: Schumpeter might be right’, Quarterly Journal of Economics, 108(3), 717–37.
Knack, Stephen and Philip Keefer (1995) ‘Institutions and economic performance: cross-country tests using alternative institutional measures’, Economics and Politics, 7 (3), 207–28.
Knack, Steve and Lixin Colin Xu (2015) ‘Unbundling institutions for external finance: worldwide firm-level evidence’, Finance and Private Sector Development Team Policy Research Working Paper 7287, World Bank, Washington, DC, June.
La Porta, Rafael, Florencio Lopez-de-Silanes, Andrei Shleifer and Robert W. Vishny (1997), ‘Legal determinants of external finance’, Journal of Finance, 52, 1131–50.
La Porta, Rafael, Florencio Lopez-de-Silanes, Andrei Shleifer and Robert W. Vishny (1998), ‘Law and finance’, Journal of Political Economy, 106(6), December, 1113–55.
La Porta, Rafael, Florencio Lopez-de-Silanes, Andrei Shleifer and Robert W. Vishny (2000), ‘Investor protection and corporate governance’, Journal of Financial Economics, 58, 3–27.
La Porta, Rafael, Florencio Lopez-de-Silanes and Andrei Shleifer (2008), ‘The economic consequences of legal origins’, Journal of Economic Literature, 46(2), 285–332.
Lele, Priya P. and Mathais Siems (2007), ‘Shareholder protection: a leximetric approach’, Journal of Corporate Law Studies, 7, 17–50.
Levine, Ross (1997), ‘Financial development and economic growth: views and agenda’, Journal of Economic Literature, 35(2), 688–726.
Levine, Ross (1998), ‘The legal environment, banks, and long-run economic growth’, Journal of Money, Credit and Banking, 30(3), 596–613.
Levine, Ross and Sara Zervos (1998), ‘Stock markets, banks and economic growth’, American Economic Review, 88(3), 537–58.
Levine, Ross, Norman Loayza and Thorsten Beck (2000), ‘Financial intermediation and growth: causality and causes’, Journal of Monetary Economics, 46, 31–77.
Lewis, W. Arthur (1954), ‘Economic development with unlimited supplies of labour’, Manchester School, 22, 139–91.
Lewis, W. Arthur (1955). The Theory of Economic Growth, Homewood, IL: Richard D. Irwin.
Libecap Gary D. (1978), ‘Economic variables and the development of the law: the case of Western mineral rights’, Journal of Economic History, 38(2), 338–62.
Libecap, Gary D. (1989), Contracting for Property Rights, Cambridge: Cambridge University Press.
Libecap, Gary D. (2002), ‘A transactions-costs approach to the analysis of property rights’, in Eric Brousseaux and Jean-Michel Glachant (eds), The Economics of Contracts: Theories and Applications, Cambridge: Cambridge University Press, pp.140–56.
Libecap, Gary and Steven Wiggins (1985), ‘The influence of private contractual failures on regulation: the case of Oilfield unitization’, Journal of Political Economy, 93, 690–714.
Licht, Amir (2014), ‘Culture and law in corporate governance’, European Corporate Governance Institute, Law Working Paper No. 247/2014, March.
Licht, Amir, Chanan Goldschmidt and Shalom Schwartz (2005), ‘Culture, law, and corporate governance’, International Review of Law and Economics, 25, 229–55.
Lipsey, Richard G. and Kelvin Lancaster (1956), ‘The general theory of second best’, Review of Economic Studies, 24(1), 1–32.
Lucas, Robert E. (1988), ‘On the mechanics of economic development’, Journal of Monetary Economics, 22, 3–42.
Maass, A. and R.L. Anderson (1986), … and the Desert Shall Rejoice: Conflict, Growth and Justice in Arid Environments, Malabar, FL: R.E. Krieger.
Macneil, Ian R. (1978), ‘Contracts: adjustment of long-term economic relations under classical, neoclassical and relational contract law’, Northwestern University Law Review, 72, 208–21.
Mahoney, Paul G. (2001), ‘The common law and growth: Hayek might be right’, Journal of Legal Studies, 30, 503–25.
Mayer, Colin and Oren Sussman (2001), ‘The assessment: finance, law and growth’, Oxford Review of Economics and Policy, 14(4), 457–66.
Medema, S. and R.O. Zerbe (2000), ‘The Coase Theorem’, in B. Bouckaert and G. De Geest (eds), Encyclopedia of Law and Economics, Volume I, Cheltenham, UK and Northampton, MA, USA: Edward Elgar Publishing, pp.836–92.
Ménard, Claude (2012), ‘Hybrid modes of organization: alliances, joint ventures, networks, and other “strange” animals’, in Robert Gibbons and John Roberts (eds), The Handbook of Organizational Economics, Princeton, NJ: Princeton University Press, pp.1066–108.
Ménard, Claude and Bertrand du Marais (2008), ‘Can we rank economies according to their economic efficiency?’, Washington University Journal of Law and Policy, 26, 55–80.
Ménard, Claude and Mary M. Shirley (2014), ‘The future of new institutional economics: from early intuitions to a new paradigm?’, Journal of Institutional Economics, 10, 541–65.
Merryman, John Henry (1977), ‘Comparative law and social change: on the origins, style, decline & revival of the Law and Development Movement’, American Journal of Comparative Law, 25(3), 457–91.
Messick, Richard E. (1999), ‘Judicial reform and economic development: a survey of the issues’, The World Bank Research Observer, 14(1), 117–36.
Migot-Adholla, Shem, Peter Hazell, Benoît Blarel and Frank Place (1991), ‘Indigenous land rights systems in sub-Saharan Africa: a constraint on productivity?’, The World Bank Economic Review, 5(1), 155–75.
Mishan, E.J. (1971), ‘The post-war literature on externalities: an interpretive essay’, Journal of Economic Literature, 9, 1–28.
Modigliani, Franco and Merton Miller (1958), ‘The cost of capital, corporation finance and the theory of investment’, American Economic Review, 48 (3), 261–97.
Mojuye, Benjamin (2000), ‘French corporate governance in the new millenium: who watches the board in corporate France?’, Columbia Journal of European Law, 73, 72–113.
Netting, R. McC (1972), ‘Of men and meadows: strategies of alpine land use’, Anthropological Quarterly, 45, 132–44.
Netting, R. McC (1976), ‘What alpine peasants have in common: observations on common tenure in a Swiss village’, Human Ecology, 4, 135–44.
Netting, R. McC (1981), Balancing on an Alp, Cambridge: Cambridge University Press.
North, Douglass C. (1994), ‘Institutions, organizations and market competition’, mimeo, Washington University, St Louis.
North, Douglass C. and Robert P. Thomas (1973), The Rise of the Western World: A New Economic History, Cambridge: Cambridge University Press.
North, Douglass C. and Barry R. Weingast (1989), ‘Constitutions and commitment: the evolution of institutional governing public choice in seventeenth century England’, Journal of Economic History, 49, 803–32.
Ostrom, Elinor (1990), Governing the Commons: The Evolution of Institutions for Collective Action, Cambridge: Cambridge University Press.
Ostrom, Elinor (2000), ‘Private and common property’, in Boudewjin Boukaert and Gerrit De Geest (eds), Encyclopedia of Law and Economics, Vol. 2, Cheltenham, UK and Northampton, MA, USA: Edward Elgar Publishing, pp.332–78.
Pejovich, Svetozar (2003), ‘Understanding the transaction costs of transition: it’s the culture, stupid’, Review of Austrian Economics, 16, 347–61.
Pejovich, Svetozar (2008), Law, Informal Rules and Economic Performance: The Case for the Common Law, Cheltenham, UK and Northampton, MA, USA: Edward Elgar Publishing.
Perkins, Dwight H. (2000), ‘Law, family ties, and the East Asian way of business’, in Lawrence E. Harrison and Samuel P. Huntington (eds), Culture Matters: How Values Shape Human Progress, New York: Basic Books, pp.232–43.
Pigou, A.C. (1912), Wealth and Welfare, London: Macmillan and Co.
Pigou, A.C. (1920), The Economics and Welfare, London: Macmillan and Co.
Pistor, Katherina, Martin Raiser and Stanislaw Gelfer (2000), ‘Law and finance in transition economies’, Economics of Transition, 8, 325–68.
Pistor, Katharina, Yoram Keinan, Jan Kleinheisterkamp and Mark D. West (2003), ‘Evolution of corporate law and the transplant effect: lessons from six countries’, The World Bank Research Observer, 18, 89–112.
Rajan, Raghuram and Luigi Zingales (1998), ‘Financial dependence and growth’, American Economic Review, 88, 559–86.
Rickets, Martin (2002), The Economics of Business Enterprise: An Introduction to the Economics of Organisation and the Theory of the Firm, Cheltenham, UK and Northampton, MA, USA: Edward Elgar Publishing.
Rittich, Kerry (2006), ‘The future of law and development: second generation reforms and the incorporation of the social’, in David M. Trubeck and Alvaro Santos (eds), The New Law and Economic Development: A Critical Appraisal, Cambridge: Cambridge University Press, pp.203–52.
Robertson, D.H. (1928), The Control of Industry (revised edition), London: Nisbet & Co.
Robinson, Joan (1952), The Rate of Interest and Other Essays, London: Macmillan.
Rodrik, Dani, Arvind Subramian and Francesco Trebbi (2004), ‘Institutions rule: the primacy of institutions over geography and integration in economic development’, Journal of Economic Growth, 9, 131–65.
Roe, Mark J. (2006), ‘Legal origins, politics, and modern stock markets’, Harvard Law Review, 120(2), 460–527.
Rostow, Walt W. (1960), The Stages of Economic Growth: A Non-Communist Manifesto, Cambridge: Cambridge University Press.
Schlager, Edella and Elinor Ostrom (1992), ‘Property-rights regimes and natural resources: a conceptual analysis’, Land Economics, 68(3), 249–62.
Schwartz, Shalom H. (1999), ‘Cultural value differences: some implications for work’, Applied Psychology: An International Review, 48, 23–47.
Schwartz, Shalom H. (2004), ‘Mapping and interpreting cultural differences around the world’, in H. Vishen, J. Soeters and P. Ester (eds), Comparing Cultures, Dimensions of Culture in a Comparative Perspective, Leiden: Brill, pp.43–73.
Schwartz, Shalom H. (2006) ‘A theory of cultural value orientations: explication and applications’, Comparative Sociology, 5, 137–82.
Schwartz, Shalom H. (2008) Cultural Value Orientations: Nature and Implications of National Difference, Moscow: State University-Higher School of Economics Press.
Schwartz, Shalom H. (2009), ‘Culture matters: national value cultures, sources and consequences’, in Robert S. Wyer, Chi-yue Chiu and Ying-yi Hong (eds), Understanding Culture: Theory, Research and Application, New York: Psychology Press, Chapter 7.
Schwartz, Shalom H. and Anat Bardi (1997), ‘Influences of adaptation to communist rule on value priorities in Eastern Europe’, Political Psychology, 18, 385–410.
Shirley Mary, M. (2013), ‘Institutions and development’, in Claude Ménard and Mary M. Shirley (eds), Handbook of New Institutional Economics, Dordrecht: Springer, pp.611–38.
Shirley, Mary, Ning Wong and Claude Ménard (2015), ‘Ronald Coase’s impact on economics’, Journal of Institutional Economics, 11, 227–44.
Siems, Mathias M. (2005), ‘What does not work in comparing securities laws: a critique on La Porta et al.’s methodology’, International Company and Commercial Law Review, 16(7), 300–5.
Siems, Mathias and Simon Deakin (2010), ‘Comparative law and finance: past, present and future research’, Journal of Institutional and Theoretical Economics, 166(1), 120–40.
Siy, R.Y. (1982), Community Resource Management: Lessons from Zanjera, Quezon City: University of Philippines Press.
Spamann, Holger (2006), ‘On the insignificance and/or endogeneity of La Porta et al.’s “Anti-Director Rights Index” under consistent coding’, John M Olin Center for Law, Economics and Business, Fellows Discussion Paper Series, Harvard Law School, Discussion Paper No. 7, 3/2006.
Spamann, Holger (2010), ‘The “Antidirector Rights Index” revisited’, Review of Financial Studies, 23(2), 467–86.
Stephen, Frank H. (1984), The Economic Analysis of Producers’ Cooperatives, London and New York: Macmillan and St Martin’s Press.
Stephen, Frank H. (1988), The Economics of Law, Brighton and Ames, IA: Wheatsheaf and Iowa State University Press.
Stephen, Frank H. (1996), ‘Lawyers, transaction costs and opportunism’, Journal of Institutional and Theoretical Economics, 152, 146–53.
Stephen, Frank H. (2016), ‘New Institutional Economics, culture and corporate governance’, in Franklin N. Ngwu, Onyeka K. Osuji and Frank H. Stephen (eds), Corporate Governance in Developing and Emerging Markets, London: Routledge, pp.45–60.
Stephen, Frank H. and Stefan Van Hemmen (2003), ‘Legal rules and the development of financial systems’, Paper presented at the European Association for Law and Economics conference, Nancy, September.
Stephen, Frank H. and Stefan Van Hemmen (2004), ‘Market mobilized capital, legal rules and enforcement’, Strathclyde Papers in Economics, No. 04/03, University of Strathclyde Department of Economics, Glasgow.
Stigler, George (1966), The Theory of Price, New York: Macmillan.
Stiglitz, Joseph E. (1985), ‘Credit markets and the control of capital’, Journal of Money, Credit and Banking, 17, 133–52.
Stiglitz, Joseph E. (1989), ‘Financial markets and development’, Oxford Review of Economic Policy, 5(4), 55–68.
Stiglitz, Joseph E. (2002), Globalization and Its Discontents, London: Allen Lane.
Svensson, J. (1998), ‘Investment, property rights and political instability: theory and evidence’, European Economic Review, 42(7), 1317–41.
Torstensson, Johan (1994), ‘Property rights and economic growth: an empirical study’, Kyklos, 47(2), 231–47.
Trebilcock, Michael and Paul-Erik Veel (2008), ‘Property rights and development: the contingent case for formalization’, University of Pennsylvania Journal of International Law, 30(2), 397–481.
Trubeck, David M. and Marc Galanter (1974), Scholars in self-estrangement: some reflections on the crisis in Law and Development Studies in the United States’, Wisconsin Law Review, 4, 1062–102.
Van Hemmen, Stefan and Frank H. Stephen (2005), ‘Rule of law, finance and economic development: cross country evidence’, in Alaine Marciano and Jean-Michel Josselin (eds), Law and the State: A Political Economy Aproach, Cheltenham, UK and Northampton, MA, USA: Edward Elgar Publishing, pp.185–241.
Wallis, John Joseph and Douglass C. North (1986), ‘Measuring the transaction sector in the American economy, 1870–1970’, in Stanley L. Engerman and Robert E. Gallman (eds), Long-term Factors in American Economic Growth, Chicago, IL: Chicago University Press, pp.95–162.
Wiggins, Steven and Gary D. Libecap (1985), ‘Oil field unitization: contractual failure in the presence of incomplete information’, American Economic Review, 75(3), 376–85.
Williamson, John (1990), Latin American Adjustment: How Much Has It Happened?, Washington, DC: Institute for International Economics.
Williamson, John (2000), ‘What should the World Bank think about the Washington Consensus?’, World Bank Research Observer, 15(2), 251–64.
Williamson, Oliver E. (1975), Markets and Hierarchies: Analysis and Antitrust Implications. A Study in the Economics of Internal Organization, New York: Free Press.
Williamson, Oliver E. (1985), The Economic Institutions of Capitalism: Firms, Markets, Relational Contracting, London: Collier Macmillan.
Williamson, Oliver E. (1988), ‘Corporate finance and corporate governance’, Journal of Finance, 43(3), 567–91.
Williamson, Oliver E. (2000), ‘The new institutional economics: taking stock, looking ahead’, Journal of Economic Literature, 38, 595–613.
Woodruff, C. (2001), ‘Review of De Soto’s The Mystery of Capital’, Journal of Economic Literature, 39, 1215–23.
World Bank (2003), Doing Business, 2014, Washington, DC: World Bank.
Xu, Guangdong (2014), ‘Is China an anomaly for the “Law Matters” hypothesis?’, Asian Journal of Law and Society, 1, 339–65.
Zingales, Luigi (2015) ‘Does finance benefit society’, NBER Working Paper 20894, National Bureau of Economic Research, Cambridge, MA, January.