Ross Levine
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View article: Legal Institutions and the Development of Financial Systems Revisited
Legal Institutions and the Development of Financial Systems Revisited Open
This chapter reviews the finance and law literature, which focuses on the role of legal institutions in shaping financial development. Considerable research finds that (1) in legal systems that enforce private property rights, support priv…
View article: Replication Data for: Local Financial Structure and the Pandemic’s Effect on the Distribution of Employment
Replication Data for: Local Financial Structure and the Pandemic’s Effect on the Distribution of Employment Open
These files contain the replication codes and data files for the RCFS paper “Local Financial Structure and the Pandemic’s Effect on the Distribution of Employment”, by Ross Levine, Chen Lin, and Wensi Xie.
View article: Finance, Growth, and Inequality
Finance, Growth, and Inequality Open
Finance and growth emerged as a distinct field of economics during the last three decades as economists integrated the fields of finance and economic growth and then explored the ramifications of the functioning of financial systems on eco…
View article: How Did Depositors Respond to COVID-19?
How Did Depositors Respond to COVID-19? Open
Why did banks experience massive deposit inflows during the pandemic? We discover that deposit interest rates at bank branches in counties with higher COVID-19 infection rates fell by more than rates at branches—even branches of the same b…
View article: Replication files for: How Did Depositors Respond to COVID-19?
Replication files for: How Did Depositors Respond to COVID-19? Open
This folder contains the replication codes and (pseudo) datasets for Levine et al. (2021) "How Did Depositors Respond to COVID-19?". Please see the ReadMe file for further instructions.
View article: The Legal Origins of Financial Development: Evidence from the Shanghai Concessions
The Legal Origins of Financial Development: Evidence from the Shanghai Concessions Open
We assemble new data on the British and French concessions in Shanghai between 1845 and 1936 to assess the legal origins view of financial development.During this period, two regime changes altered the degree to which the British common an…
View article: Competition Laws, Norms and Corporate Social Responsibility
Competition Laws, Norms and Corporate Social Responsibility Open
Theory offers differing perspectives and predictions about the impact of product market competition on corporate social responsibility (CSR).Using firm-level data on CSR from 2002 through 2015 and panel data on competition laws in 48 count…
View article: Social Distancing and Social Capital: Why U.S. Counties Respond Differently to COVID-19
Social Distancing and Social Capital: Why U.S. Counties Respond Differently to COVID-19 Open
Since social distancing is the primary strategy for slowing the spread of many diseases, understanding why U.S. counties respond differently to COVID-19 is critical for designing effective public policies.Using daily data from about 45 mil…
View article: Competition Laws and Corporate Innovation
Competition Laws and Corporate Innovation Open
A central debate in economics concerns the relationship between competition and innovation, with some stressing that competition discourages innovation by reducing post-innovation rents and others emphasizing that more contestable markets …
View article: Corporate Immunity to the COVID-19 Pandemic
Corporate Immunity to the COVID-19 Pandemic Open
Using data on over 6,000 firms across 56 economies during the first quarter of 2020, we evaluate the connection between corporate characteristics and stock price reactions to COVID-19 cases. We find that the pandemic-induced drop in stock …