Skip Ribbon Commands
Skip to main content
Skip Navigation LinksHome > Faculty Biographies > Faculty Bio

Santarosa, Veronica A.

Professor of Law

3214 South Hall

Veronica Santarosa teaches first-year contract law, economic analysis of law, and a seminar on the law and history of economic institutions. Her research interests include law and economics, financial economic history, and law and development. Her current projects examine, both empirically and theoretically, how legal innovations and political institutions affect firms and financial markets now and throughout history. Professor Santarosa holds a BA in economics from Ibmec Business School in Brazil, an LLB from the University of Sao Paulo, a master's degree from the University of Hamburg, an LLM from Yale Law School, and a PhD in economics from Yale University. Prior to joining the Michigan Law faculty, she consulted for the Brazilian Administrative Council for Economic Protection, the Anheuser-Busch InBev M&A division, and for the World Bank-IFC.

See Professor Santarosa's homepage.

Recent Publications

More Publications...

Financing Long-Distance Trade: The Joint Liability Rule and Bills of Exchange in Eighteenth-Century France, The Journal of Economic History 75, no. 3 (2015): 690-719.
Full Text: Cambridge Journals (UMich users) | Cambridge Journals

Politics, Instability, and International Investment Flows (with Art Durnev, Ruben Enikolopov, and Maria Petrova), Journal of Corporate Finance 30, (2015): 299-324.
Full Text: SSRN

The Legal Construction of Early Financial Markets: Lessons from the History of an Eighteenth-Century Legal Innovation, in S. Grundmann and J. Thiessen, eds., Recht und Sozialtheorie, Law in the Context of Disciplines. Tübingen, Germany: Mohr Siebeck, (2015): 115-144.

Radio and the Rise of Nazis in Prewar Germany (with Maja Adena, Ruben Enikolopov, Maria Petrova, and Katia Zhuravskaya), Quarterly Journal of Economics 130, no. 4 (2015): 1885-1939.
Full Text: SSRN | Oxford Journals (UMich users) | Oxford Journals

What Can we Learn about the Embeddedness of Commercial Relationships from the Study of Powers of Attorney? (with Fabien Eloire and Claire Lemercier), Economic History Review (Forthcoming)

Don't Cry for Argentina (or other Sovereign Borrowers): Lessons from a Previous Era of Sovereign Debt Contract Enforcement (with Benjamin Chabot), Capital Markets Law Journal 12, no. 1 (2017): 9-37.

Pre-Banking Financial Intermediation: Evidence from a Brokerage Law Reform in 18th Century Marseille, Working Paper.​

Beyond the Personal-Anonymous Divide: Agency Relations in Powers of Attorney in France, 18th-19th Centuries, (with Claire Lemercier, Sciences-Po and Fabien Eloire, Université de Lille), under review.
Full Text: SSRN

The Quality of Contracting Institutions and the Choice of Ownership vs. Contract, Working Paper.


Invited presentation, "Pre-Banking Financial Intermediation," UCLA, November 2016.

Invited presentation, "Pre-Banking Financial Intermediation," Harvard Law School, November 2016.

Invited presentation, "Pre-Banking Financial Intermediation," George Mason Law School, September 2016.

Invited presentation, "Pre-Banking Financial Intermediation," Georgetown Law School, September 2016.

Invited presentation, "Pre-Banking Financial Intermediation," Harvard/Stanford/Yale Forum, June 2016.

Invited presentation, "Pre-Banking Financial Intermediation," Columbia Law School, October 2015.