The Assessment: Finance, Law, and Growth
回顾了公司金融从国内分析到国际比较、公司治理、法律与金融再到政治与金融的发展历程，总结了理论和实证研究的进展，并指出政策建议需谨慎。
This article reviews the development of corporate finance from domestic analyses to international comparisons of financial systems, to comparative corporate governance, to law and finance, and most recently to politics and finance. It describes how both theoretical developments and empirical evidence have guided this research agenda. It considers the lessons that can be learnt from the newly emerging literatures and considers the policy implications that can be derived. It argues that while strong policy prescriptions are frequently proposed, there are many unresolved theoretical and empirical issues which suggest that caution should be exercised in drawing policy conclusions. I. THE COURSE OF THEORETICAL CORPORATE FINANCE Periodically the Oxford Review of Economic Policy devotes an issue to financial economics. We have had issues on corporate finance, corporate governance, and now this issue on law, finance, and growth. The development of the Oxford Review issues mirrors that of the academic subject. Over the past two decades, corporate finance has progressively moved from domestic issues to international comparisons of financial systems, to comparisons of corporate governance, to legal theories of finance, and most recently to political economy models. In this introductory assessment we provide a short overview of the development of the academic