Claessens is from the University of Amsterdam and CEPR and Laeven is from the World Bank. We are grateful to Richard Green (the editor) and an anonymous referee who helped us to substantially improve the paper. We thank Thorsten Beck, Sudipto Dasgupta, Charles Goodhart, Simon Johnson, Ross Levine, Inessa Love, Enrico Perotti, Sheridan Titman, and Chris Woodruff for helpful suggestions, and Ying Lin for excellent research assistance. We received helpful comments from seminar participants at Korea University, Universidad Argentina de la Empresa, London School of Economics, Stockholm School of Economics, University of Amsterdam, the 17th Annual Congress of the European Economic Association in Venice, and the Third Annual Conference on Financial Market Development in Emerging and Transition Economies at Hong Kong University of Science and Technology. We thank Raghu Rajan and Luigi Zingales for the use of their data, Ray Fisman and Inessa Love for providing their data on U.S. sectoral sales growth, and Walter Park for providing his index data on patent rights. The views expressed in this paper are those of the authors and do not necessarily represent those of the World Bank.
Financial Development, Property Rights, and Growth
Version of Record online: 7 NOV 2003
© 2003 the American Finance Association
The Journal of Finance
Volume 58, Issue 6, pages 2401–2436, December 2003
How to Cite
Claessens, S. and Laeven, L. (2003), Financial Development, Property Rights, and Growth. The Journal of Finance, 58: 2401–2436. doi: 10.1046/j.1540-6261.2003.00610.x
- Issue online: 7 NOV 2003
- Version of Record online: 7 NOV 2003
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