English law has clarified the scope of legal advice privilege ('attorney-client privilege') and confirmed that only lawyers and not, for example, accountants, can give such privileged legal advice and support. There are sound reasons for sustaining this clear rule. First, confining this...

A growing body of work suggests that cross-country differences in legal origin help explain differences in financial development. Beck, Demirguc-Kunt, and Levine assess two theories of why legal origin influences financial development. First, the "political" channel stresses that (1) legal...

This paper proposes and empirically validates four theories of why legal origin influences growth and welfare through finance. It is a natural extension of “Law and finance: why does legal origin matter?” by Thorsten Beck, Asli Demirgüç-Kunt and Ross Levine (2003). We find only partial...

In the past few decades, economic analysis of law has been challenged by a growing body of experimental and empirical studies that attest to prevalent and systematic deviations from the assumptions of economic rationality. While the findings on bounded rationality and heuristics and biases were...

This paper proposes and empirically validates four theories of why legal origin influences growth and welfare through finance. It is a natural extension of "Law and finance: why does legal origin matter?" by Thorsten Beck, Asli Demirgüç-Kunt and Ross Levine (2003). We find only partial support...

This paper assesses empirically two theories of why legal origin influences financial development. The political channel stresses that legal traditions differ in the priority they give to the rights of individual investors vis-a-vis the state and this has repercussions for financial development....

In this Article, I offer a macroeconomic perspective on law that reshapes the microeconomic perspective that currently dominates law and economics. I argue that 1. The economy works one way in ordinary economic conditions, in which supply capacity determines output, and a different way in deep...

The article discusses the rights of unnamed class members in class actions and shareholders in corporate derivative suits to appeal court orders approving the settlement of their claims. As representative actions, class actions and derivative suits by definition necessarily determine the rights...

A representative group action regime has been implemented in Portugal by Law 83/95, of 31 August, on the right to take part in administrative proceedings and the right of popular action, last amended by Decree-Law 214-G/2015, of 2 October. The legislator gave effect to Article 52 (3) of the...

Considering the problematic nature of the judicial trend in attempting to avoid class action certification problems by adopting a reliance presumption in class actions, this paper argues that without careful limitations, courts risk compromising Federal Rule of Civil Procedure 23's commonality...