(1998) assessment of the be jure rights of shareholders (particularly what they call "anti-director" rights). LLSV(1998) also provide measures of creditor rights. the final LLSV (1998) measure we use is their index of accounting standards. the raw data and precise definitions for all these measures are reported in Table 3.
All of these measures are calculated well before the Asian crisis. Efficiency of the legal system pertains to 1890-83. the measures of corruption and law and order cover 1982-95. the measures of corporate governance are calculated primarily using data for the early and mid-1990s.