@techreport{NBERw9882,
 title = "What Works in Securities Law?",
 author = "Rafael La Porta and Florencio Lopez-de-Silane and Andrei Shleifer",
 institution = "National Bureau of Economic Research",
 type = "Working Paper",
 series = "Working Paper Series",
 number = "9882",
 year = "2003",
 month = "August",
 URL = "http://www.nber.org/papers/w9882",
 abstract = {We examine the effect of securities laws on stock market development in 49 countries. We find almost no evidence that public enforcement benefits stock markets, and strong evidence that laws facilitating private enforcement through disclosure and liability rules benefit stock markets.},
}