scholarly journals Law, Endowments and Property Rights

2005 ◽  
Vol 19 (3) ◽  
pp. 61-88 ◽  
Author(s):  
Ross Levine
Keyword(s):  
Property Rights ◽  
Empirical Evidence ◽  
Indigenous Population ◽  
Legal Traditions ◽  
Long Run ◽  
European Colonization ◽  
Sources Of Variation ◽  
Country Differences ◽  
Cross Country ◽  
The Law

While scholars have hypothesized about the sources of variation in property rights for over 2500 years, it is only very recently that researchers have begun to test these theories empirically. This paper reviews both the theory and empirical evidence supporting and refuting the law and endowment views of property rights. The law view holds that historically determined differences in national legal traditions continue to shape cross-country differences in property rights. The endowment view argues that during European colonization, differences in climate, crops, the indigenous population, and the disease environment influenced long-run property rights.

Broadband Diffusion and its Driving Forces

2011 ◽  
pp. 689-710 ◽  
Author(s):  
Banani Nandi ◽  
Chandana Chakraborty
Keyword(s):  
Economic Growth ◽  
Empirical Evidence ◽  
Growth And Development ◽  
Driving Forces ◽  
Demand And Supply ◽  
Economic Growth And Development ◽  
Policy Suggestions ◽  
Country Differences ◽  
Potential Impact ◽  
Cross Country

In the light of the emerging consensus on the potential impact of broadband technology on economic growth and development, this chapter analyzes the cross-country differences in growth of broadband technology by examining the key demand and supply factors driving diffusion in the observed countries. In addition, utilizing empirical evidence and country case analyses, the chapter offers tentative policy suggestions for accelerating broadband diffusion under alternative circumstances.

scholarly journals DOES THE LAW OF ONE PRICE (LOP) HOLDS IN THE INTERNATIONAL BARLEY MARKETS

2021 ◽  
Vol 21 (4) ◽  
pp. 251-266
Author(s):  
Sanusi Mohammed Sadiq ◽  
P I Singh ◽  
M M Ahmad
Keyword(s):  
Empirical Evidence ◽  
Market Integration ◽  
Time Series Data ◽  
Impulse Response Function ◽  
Law Of One Price ◽  
Series Data ◽  
Economic Market ◽  
Causality Test ◽  
Long Run ◽  
The Law

A price time-series data of barley for a period of 49 years (1970-2019) sourced from the FAO database was used to determine the horizontal market integration of barley among some selected major market players in barley trade in the world. The chosen markets are Australia, Canada, Iran, Turkey and the USA based on the availability of up-to-date large span data. The collected data were analyzed using inferential statistics- unit root tests, co-integration tests, unrestricted vector autoregressive model, Granger causality test and impulse response function. The empirical evidence showed that the law of one price (LOP) exists among the selected markets i.e. there is perfect price communication among the markets in the long run, thus highly integrated. Besides, Australian and Canadian markets established a long-run equilibrium, thus have a stable price in the long run. Furthermore, the import and export hubs of barley in the trade are Canadian, USA and Turkey markets while Iranian and Australian markets are large consumer markets. The empirical evidence showed Canadian and USA markets to be the major players in the trade while the Australian market is a follower in the trade. All the selected markets have promising future prices with a little inflationary trend which will owe to supply fluctuation. The reinforcement of physical infrastructure, the use of ICTs and well-defined consistent agricultural policy/market initiatives would thus lead to the global creation of a single uniform economic market for barley.

Empirical Evidence on the Evolution of International Earnings

2002 ◽  
Vol 77 (s-1) ◽  
pp. 115-133 ◽  
Author(s):  
Judy Land ◽  
Mark H. Lang
Keyword(s):  
Interest Rates ◽  
Empirical Evidence ◽  
Cash Flow ◽  
Growth Rates ◽  
Economic Determinants ◽  
Accounting Practice ◽  
Time Period ◽  
Earnings Smoothing ◽  
Country Differences ◽  
Cross Country

We examine whether cross-country differences in earnings-to-price multiples have changed between 1987–1992 and 1994–1999. Our results suggest that earnings multiples became more similar over this time period for the jurisdictions we analyze, although systematic differences remain. Economic determinants of earnings multiples (e.g., growth rates, interest rates, and returns) do not exhibit similar convergence and do not appear to explain the changes. The convergence is robust to controls for cash flow multiples and is apparent in the valuation of accruals. Accrual/cash flow correlations have also become more similar and generally less negative, suggesting a reduction in earnings smoothing. Overall, our evidence suggests convergence in accounting practice.

scholarly journals Cross country industry betas

2012 ◽  
Vol 10 (1) ◽  
pp. 629-643
Author(s):  
Alberto Dell’Acqua ◽  
Emanuele Teti ◽  
Leonardo L. Etro ◽  
Marco Boero
Keyword(s):  
Linear Relationship ◽  
Empirical Evidence ◽  
Stock Markets ◽  
Stock Exchange ◽  
Emerging Market ◽  
Industrial Composition ◽  
Industrial Sectors ◽  
Structural Differences ◽  
Country Differences ◽  
Cross Country

We study the differences in the industrial composition between two stock market indices, the Italian FTSE MIB and the Chinese Shanghai Composite Stock Exchange. We argue that differences in the set of industry weights, measured through market capitalization, on different stock markets carry valuable information required for adjusting industry betas in an emerging market context. On the basis of 256 weekly observations of 1,020 companies belonging to 10 industrial sectors on the Italian and Chinese stock markets, we test the hypotheses that statistically significant cross-country differences in industry betas and industry weights exist and that cross-country differences in industry betas are linearly related to cross-country differences in industry weights. The empirical evidence gathered confirms the existence of cross-country structural differences in industry betas and industry weights, but confutes the hypothesis of a linear relationship between the two

scholarly journals Intestacy Laws and the Influences of Colonialism – The Case of Kenya, in Comparison with the English and Australian Laws of Succession

2021 ◽  
Vol 71 (1) ◽  
pp. 93-126
Author(s):  
Kenneth Kaunda Kodiyo
Keyword(s):  
Private Law ◽  
Traditional Values ◽  
Legal Transplant ◽  
Legal Traditions ◽  
Long Run ◽  
The World ◽  
The Law

Intestacy law is derived from the traditional values, but it can be also under the influences of societies across the world. As a field of private law, the law of intestate succession can, in the long run, resist the non-voluntary, i.e., imposed reception of such rules of and forced by a coloniser. Compared to the flexible regulations, e.g., of the law of obligations, which are therefore more capable of legal transplant, intestate succession is based on deeply enrooted customs of a nation. Thus, these rules can rigidly persist under the pressure of colonisation. Kenya and Australia, two countries with significant differences in their cultural and legal traditions, were, in a diverse way, colonised by England. The article analyses the intestacy laws in these three countries, with the emphasis on Kenya. It especially discusses the reasons for pushing for strong intestacy laws to protect the widow in Kenyan Laws compared with the Australian and English Laws.

How Does Firm Size Explain Cross-Country Differences in Ownership Concentration?

2020 ◽  
Author(s):  
Fariborz Moshirian ◽  
Nguyen Thi Thuy ◽  
Jin Yu ◽  
Bohui Zhang
Keyword(s):  
Firm Size ◽  
Ownership Concentration ◽  
Country Differences ◽  
Cross Country

Does Globalization Cause Inequality in Developed Countries in the Long Run? Empirical Evidence from 25 OECD Economies

2020 ◽  
Author(s):  
Rahul Sen ◽  
Gulasekaran Rajaguru ◽  
Sadhana Srivastava ◽  
Pundarik Mukhopadhaya
Keyword(s):  
Empirical Evidence ◽  
Developed Countries ◽  
Long Run

Still Connecting with Society?

2017 ◽  
Author(s):  
Elin Haugsgjerd Allern ◽  
Tània Verge
Keyword(s):  
Political Parties ◽  
Ethnic Minorities ◽  
Social Groups ◽  
The Public ◽  
Organized Interests ◽  
Social Interests ◽  
Sources Of Variation ◽  
Cross Country ◽  
Formal Status ◽  
Formal Rules

How parties structure their interaction with social groups is a key determinant of their capacity to provide linkage between the institutions of government and the public at large. This chapter investigates the extent to which modern political parties use formal measures to connect to relevant societal interests and strengthen their anchorage in society. The analysis centres on parties’ use of formal rules governing affiliation and representation to link with externally organized interests and parties’ establishment of sub-organizations with representation rights within the party. The chapter authors develop and test several hypotheses concerning cross-country and within-country sources of variation in formal linkage and test them empirically. In addition, they examine whether formal status and representation rights shape parties’ ability to represent descriptively the associated latent social interests focusing on the case of women and ethnic minorities.

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