- The Art, Craft, and Science of Policing
- Crime and Criminals
- Criminal Process and Prosecution
- The Crime-preventive Impact of Penal Sanctions
- Contracts and Corporations
- Financial Markets
- Consumer Protection
- Bankruptcy and Insolvency
- Regulating the Professions
- Personal Injury Litigation
- Claiming Behavior as Legal Mobilization
- Labor and Employment Laws
- Housing and Property
- Human Rights Instruments
- Social Security and Social Welfare
- Occupational Safety and Health
- Environmental Regulation
- Administrative Justice
- Access to Civil Justice
- Judicial Recruitment, Training and Careers
- Trial Courts and Adjudication
- Appellate Courts
- Dispute Resolution
- Lay Decision-Makers in the Legal Process
- Evidence Law
- Civil Procedure and Courts
- Collective Actions
- Law and Courts'Impact on Development and Democratization
- How Does Inter National Law Work?
- <b>Lawyers and Other Legal Service Providers</b>
- Legal Pluralism
- Public Images and Understandings of Courts
- Legal Education and the Legal Academy
Abstract and Keywords
This article analyses the current state of empirical legal research in the law and the regulation of financial markets. It aims to provide a brief survey of the main work done either by lawyers or by others but which is pertinent to the operation of law and regulation. It focuses on six main areas of research and debates. These are the debates on the efficient markets hypothesis and mandatory disclosure rules in securities regulation; studies on behavioralism and their impact on disclosure as a tool for protecting investors; studies on the impact of rules relating to market misconduct on market development; research into the relationship between legal rules and securities market development; evidence of the unintended impacts of regulation; and research into the dynamics of financial market regulatory regimes. Finally, this article mentions that understanding the general context in which law and regulation operates deepens our understanding of the nature, potential, and limits of law and regulation themselves.
Julia Black is Professor of Law at the London School of Economics and Political Science.
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