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In this paper we examine and compare the legal and institutional set-ups in China and India. China differs from most of the countries studied in the law, institutions, finance, and growth literature: Its legal and financial systems as well as institutions are all underdeveloped, but its economy has been growing at a very fast rate. Despite its English common-law origin and British-style judicial system and democratic government, there is enough documented evidence to suggest that the effectivedoi:10.1093/acprof:oso/9780199575077.003.0005 fatcat:shcywuwbfreynbamhmdwxlbac4