Understanding
Financial Architecture: Legal and Political Frameworks and Economic
Efficiency
Research
Training Network
Summary
The objective of this Network is to improve the understanding of the interaction between legal frameworks and financial arrangements, and the effects that these have on economic efficiency and growth. The Network has launched a number of research projects expanding and deepening the characterisation of legal rules and financial arrangements, in particular in regard to ownership and control, and creditor protection. The participating researchers seek to make use of the theoretical tools in financial economics and recently available data to shed light on the complex interplay between law and finance.
A second objective of the Network is to link research on law and finance with political economy. Politics has played an important role in shaping legal and financial systems, and these systems have given rise to significant stakeholders with influence over the political process. Understanding this interaction is essential to any attempt to reform European financial architecture.
The participating researchers will apply this approach in three areas where law and finance intersect: corporate governance, bankruptcy law, and market organization and efficiency.
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Summary