Developing Commercial Law In Transition Economies
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Developing Commercial Law In Transition Economies
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Author : Cheryl Williamson Gray
language : en
Publisher: World Bank Publications
Release Date : 1995
Developing Commercial Law In Transition Economies written by Cheryl Williamson Gray and has been published by World Bank Publications this book supported file pdf, txt, epub, kindle and other format this book has been release on 1995 with Commercial law categories.
Developing Commercial Law In Transition Economies
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Author : Gray
language : en
Publisher:
Release Date : 1999
Developing Commercial Law In Transition Economies written by Gray and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1999 with Electronic books categories.
November 1995 Three things are essential to implement decentralized legal frameworks in any setting: reasonable laws, adequate institutions, and market-oriented incentives. The problem in transition economies is that all three must to a large extent be built from scratch. The question to ask at any point in time is not whether there is rule of law, but whether the country is moving in the right direction along all three dimensions. Implementing decentralized legal frameworks requires reasonable laws, adequate institutions, and market-oriented incentives. All three must exist together. Laws or institutions without each other or without a supportive framework of incentives are likely to lie dormant, while incentives by themselves will be frustrated without a reasonable legal framework and institutions to support and enforce them. Developing any of these elements is a major challenge, and progress along all three takes time. In transition economies, not only must new laws be drafted (a daunting task yet perhaps the easiest of the three) but they must be accompanied by the growth of supportive institutions (including formal judicial institutions and the watchdog institutions that we almost take for granted in advanced market economies). And they must be accompanied by economic reforms -- whether privatization (particularly with outside owners) or banking reforms -- that separate actors from the state and reinforce market-based incentives. Gray and Hendley use two case studies -- Hungarian bankruptcy law and Russian company law -- to illustrate the interaction of these three elements in practice. These cases illustrate their general view that Central Europe is somewhat further along on all three dimensions than Russia. Russia is not advanced in the development of either laws or institutions, among other reasons because it lacks Hungary's pre-war legacy of a legal tradition (Russia having never been a society or an economy ruled fundamentally by law) and because it launched economic reform much later. As for incentives, in both countries relevant actors exert weaker demand for proper implementation of the laws on the books -- weaker demand that there be stable rules of the game -- than one would expect in more mature market economies. The cases belie any simplistic notion that the rule of law can be mechanically dictated from above. Top-down reform of bankruptcy law in Hungary appears to have been at least marginally successful in changing expectations and behavior, partly because it stimulated the growth of new supporting institutions. It might have been more successful if other areas of government policy had created more complementary incentives, particularly in banks. Top-down reform of company law in Russia has had little impact to date on either institutional development or firm behavior. This paper -- a product of the Transition Economics Division, Policy Research Department -- was prepared for the John M. Olin Lecture Series at Harvard University.
The Legal Framework For Private Sector Development In A Transitional Economy
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Author :
language : en
Publisher: World Bank Publications
Release Date : 1991
The Legal Framework For Private Sector Development In A Transitional Economy written by and has been published by World Bank Publications this book supported file pdf, txt, epub, kindle and other format this book has been release on 1991 with Commercial law categories.
Poland is rapidly developing a reasonable legal framework to support its transition to a market economy. Yet legal practice lags behind. Precedent and expertise must be built through training and experience.
The Emerging Legal Framework For Private Sector Development In Viet Nam S Transitional Economy
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Author : Pham van Thuyet
language : en
Publisher: World Bank Publications
Release Date : 1995
The Emerging Legal Framework For Private Sector Development In Viet Nam S Transitional Economy written by Pham van Thuyet and has been published by World Bank Publications this book supported file pdf, txt, epub, kindle and other format this book has been release on 1995 with Commercial law categories.
The Business Of Transition
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Author : Melissa Crouch
language : en
Publisher:
Release Date : 2017
The Business Of Transition written by Melissa Crouch and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2017 with Burma categories.
This interdisciplinary volume offers a timely reflection on law, development and economics through empirical and comparative perspectives on contemporary Myanmar. The book explores the business that takes place in times of major political change through law and development initiatives and foreign investment. The expert contributors to this volume identify the ways in which law reform creates new markets, embodies hopes of social transformation and is animated by economic gain. This book is an invitation to think carefully and critically about the intersection between law, development and economics in times of political transition. The chapters speak to a range of common issues - land rights, access to finance, economic development, the role of law including its potential and its limits, and the intersection between local actors, globalised ideas and the international community. This interdisciplinary book is for students, scholars and practitioners of law and development, Asian studies, political science and international relations.
Law Reform In Developing And Transitional States
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Author : Tim Lindsey
language : en
Publisher: Routledge
Release Date : 2006-12-05
Law Reform In Developing And Transitional States written by Tim Lindsey and has been published by Routledge this book supported file pdf, txt, epub, kindle and other format this book has been release on 2006-12-05 with Business & Economics categories.
This informative book examines examples of law reform projects in post-socialist and post-authoritarian states in Asia, identifies common problems, and proposes analytical frameworks for understanding them.
Company Law In The New Europe
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Author : Janet Dine
language : en
Publisher: Edward Elgar Publishing
Release Date : 2007-01-01
Company Law In The New Europe written by Janet Dine and has been published by Edward Elgar Publishing this book supported file pdf, txt, epub, kindle and other format this book has been release on 2007-01-01 with Law categories.
This study on the potential of law to ensure the social responsibility of a company is an innovative and important study. It is a topical contribution to the sociology of market economies in transition. It is a unique effort to provide detailed practical guidance for the design of the company law in developing economies in general and the new Europe in particular. Christian Joerges, European University Institute Florence, Italy This book provides comprehensive analysis of the recent enlargement of the EU, shedding light on the rationale behind the EU s decisions to enlarge, examining the side effects these choices have on a range of EU policies and particularly on the effect of the Acquis on candidate countries. Emphasis is placed on the area of company law, which occupies a central part in a country s economic planning and therefore its commercial law. Past enlargements are thoroughly explained and the potential impact of the new political landscape in Europe in the wake of the popular rejection of the European Constitutional Treaty on future enlargements is evaluated. A comparative methodology for commercial law drafting in transition and developing economies is put forward and the book concludes with a complete draft of a model company law for transition (and developing) economies. The aim is to provide a template for discussion. This book will be of great interest to those interested in considering the influence that the prospect of EU membership has on transition countries in general, the emphasis being on laws vital to emerging market economies, particularly commercial and company law.
Law Wealth And Power In China
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Author : John Garrick
language : en
Publisher: Routledge
Release Date : 2010-10-04
Law Wealth And Power In China written by John Garrick and has been published by Routledge this book supported file pdf, txt, epub, kindle and other format this book has been release on 2010-10-04 with Business & Economics categories.
This book examines the law reforms of contemporary China in light of the Party-state’s ideological transformation and the political economy that shapes these reforms. This involves analysing three interrelated domains: law reform, power and wealth. The contributors to this volume employ a variety of perspectives and analytical techniques in their discussion of key themes including: commercial law reform and its governance of wealth and regulation of economic activity; the influence and authority of the Party-state over China’s economic activity; and the influence of wealth and the wealthy in economic governance and legal reform. Utilizing an interdisciplinary approach, this book presents analytical perspectives of new work, or new lines of thinking about the new wealth, power and law reforms of China. As such, critical boundaries are explored between legal and financial reforms and what these reforms signify about deeper ideological, economic, social and cultural transformations in China. The book concludes by asking whether there is a ‘China model’ of development which will produce a unique variety of capitalism and indigenous variant of rule of law, and examining the ‘winners and losers’ in the transition from a centrally planned economy to a market economy. Law, Wealth and Power in China will be of interest to students and academics of comparative law, Asian law, Chinese economics and politics, Chinese Studies, as well as professionals in investment banking, finance and government.
Transnational Business Law
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Author : Rumu Sarkar
language : en
Publisher:
Release Date : 2003
Transnational Business Law written by Rumu Sarkar and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2003 with Business & Economics categories.
In developing countries, because of economic development pressures that deeply pervade all aspects of enterprise, international business transactions give rise to crucial issues that practitioners cannot afford to ignore. In this new book Rumu Sarkar, whose Development Law and International Finance has quickly taken its place as the preeminent theoretical analysis of the new legal discipline of development law, at last gives busy lawyers engaged in international business as practical a text as they could desire. Transnational Business Law shows that the decisions and strategies of lawyers involved in the hectic daily routines of creating and executing cross-border transactions can serve the best interests not only of their businesses but of economic development as well. In essence, this is a classic international business transactions handbook, with the overarching dimension of development law added. It offers detailed principles for structuring transactions, negotiating the underlying finance and related documents, and navigating dispute resolution mechanisms. It provides annotated forms, negotiating exercises, hypothetical examples, and actual case summaries and analyses. It presents economic development issues as they arise in such areas of activity as the following: cross-border financing of goods and services, technology transfers, and intellectual capital; structuring cross-border transactions through private equity, corporate debt, and multilateral development bank financing; managing commercial risks; negotiating debt work-outs for non-performing loans; mitigating non-commercial risks through credit enhancement strategies such as obtaining political risk insurance; and contracting for arbitration or other dispute resolution methods. Important factors such as 'long-arm' U.S. law, international legal regulation of business conduct, and relevant underlying local law and local legal traditions are all brought to bear on the issues when appropriate. Transnational Business Law will be especially useful to practitioners in developing countries whose legal decisions in relation to cross-border transactions often involve critical economic and political ramifications. Through her detailed exploration of how international transactions unfold within the context of economic development, Professor Sarkar greatly enhances the growth of a commitment among the international business community to achieve mutually constructive ways to conduct business between developed and developing countries.
Law And The Transition To Business Sustainability
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Author : Daniel R. Cahoy
language : en
Publisher: Springer
Release Date : 2014-06-30
Law And The Transition To Business Sustainability written by Daniel R. Cahoy and has been published by Springer this book supported file pdf, txt, epub, kindle and other format this book has been release on 2014-06-30 with Law categories.
This book expands on law-related research by examining the legal aspects of sustainability with a focus on the impact on business strategies. It recognizes that firms must adopt an integrated approach to law and sustainability, considering multiple disciplines and goals, and serve as a forum for bringing together scholarship from fields such as environmental law, energy, government regulation and intellectual property. Firms increasingly have an interest in transitioning to sustainable business practices that take into consideration the fact that global resources are finite and will be increasingly scarce. They acknowledge that current actions have social, economic and environmental consequences and employ options to ensure that future generations have the same options and benefits. Examples of sustainable practices increasingly employed by firms include the institutionalization of “whole life-cycle” analysis in marketing and product design, utilization of sustainable inputs and energy sources, tracking and reporting sustainability performance, attempting the valuation of future generation prosperity and happiness as a discounting mechanism, and integrating sustainability into firm culture and management goals. It is clear that law and regulation have an extremely important role to play in the transition to more sustainable business practices. Broadly stated, law can provide structure for firms responding to forces that pull transition by enabling sustainability leadership and competitive advantage through funding models, intellectual property rights and collaboration means. Additionally, law can work to push transition by compelling firms to act through regulatory structures, accounting and governance mechanisms.