Does the Law and Finance Hypothesis Pass the Test of History? Aldo Musacchio, March 6, 2013, Paper. "For the body of work known as the law and finance literature, the development of financial markets and the concentration of ownership across countries is to a large extent the consequence of the legal system nations created or inherited decades or hundreds of years ago. Despite the seemingly historical nature of this explanation, most of the body of work supporting the law and finance hypothesis has been ahistorical..." May require purchase or user account. Link verified June 19, 2014