Does Law Matter For Economic Growth
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Does Law Matter For Economic Growth
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Author : Guangdong Xu
language : en
Publisher:
Release Date : 2014
Does Law Matter For Economic Growth written by Guangdong Xu and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2014 with China categories.
The massive differences in country incomes are largely the product of economic growth, which is in turn shaped, influenced, and determined by the legal infrastructure of a given country. There has been a growing interest in exploring the connection between legal rules and economic growth since the 1990s, which can be attributed to the influence of Harvard economist Andrei Shleifer and his colleagues (the so-called LLSV). LLSV substantially contribute to our understanding of the economic consequences of legal rules. However, their studies face serious challenges and leave a number of questions unresolved. This book is part of the academic efforts to fill gaps in LLSV's studies. The contribution of and controversy over LLSV's studies are systematically reviewed. In addition, the book scrutinizes the relationship between law (both corporate and securities law) and stock market development, analyzes the role of property law in economic development, and examines the growth experience of China. Does Law Matter for Economic Growth? will help readers to reach a deeper understanding of the relationship between law and economic growth, by revealing the weaknesses in and problems with LLSV's studies, by offering new evidence (historical, comparative, and empirical) that cast serious doubts over LLSV's conclusions, and by analyzing certain apparent anomalies that can hardly be explained by LLSV's theory. A more cautious stance regarding the law and growth nexus is ultimately reached. Law matters for economic performance, but the extent to which it matters is defined by a broader context within which political, legal, economic, and social variables influence one another and evolve together over time. It is therefore imprudent to embrace legal reform as a panacea for economic backwardness. (Series: European Studies in Law & Economics - Vol. 14)
Does Law Matter
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Author : Michael G. Faure
language : en
Publisher:
Release Date : 2011
Does Law Matter written by Michael G. Faure and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2011 with Law categories.
"One of the most discussed questions in social science of the last decade is to what extent differences in economic development among countries can be explained by differing law and institutions. According to the 'legal origins'-thesis, the answer is clear: it claims that differences in economic performance are to a large extent dependent on whether a country belongs to the civil law or common law family. Others have severely criticised this thesis. This volume takes stock of the debate and offers an integrated approach that not only takes into account the insights of economics, but also of comparative law and empirics"--Page 4 of cover.
The Law Growth Nexus
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Author : Kenneth W. Dam
language : en
Publisher: Rowman & Littlefield
Release Date : 2007-08-29
The Law Growth Nexus written by Kenneth W. Dam and has been published by Rowman & Littlefield this book supported file pdf, txt, epub, kindle and other format this book has been release on 2007-08-29 with Law categories.
An increasingly popular view holds that institutions--in particular, the rule of law--are the keys to unlocking the developing world's full growth potential. But what exactly does this mean? Which legal institutions matter and why? How can policymakers use this knowledge to promote growth? In The Law-Growth Nexus, Kenneth Dam brings five decades of experience as a legal scholar and policymaker to bear upon these questions. After reviewing the burgeoning literature on legal institutions and economic development, Dam unpacks the "rule of law" concept. Successive chapters analyze enforcement, contracts, and property rights—the three concepts that collectively define rule of law—and examine their roles in the real estate and financial sectors. Dam uses an extended analysis of China to assess the importance of the rule of law. This case study illustrates several of the book's central themes, including the difficulty of building a strong, independent judiciary and firstclass financial sector. The stark fact is that many parts of what we call the developing world have stopped developing, while other regions have seen a slowdown in once-promising growth. Could new or better legal institutions help jumpstart these economies? In exploring this question, Th e Law-Growth Nexus goes beyond regression results to examine the underlying mechanisms through which the law, the judiciary, and the legal profession influence the economy. The result is essential reading for analysts and policymakers facing the challenges of legal and economic reform.
Why States Matter In Economic Development
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Author : Jawied Nawabi
language : en
Publisher: Taylor & Francis
Release Date : 2024-04-29
Why States Matter In Economic Development written by Jawied Nawabi and has been published by Taylor & Francis this book supported file pdf, txt, epub, kindle and other format this book has been release on 2024-04-29 with Political Science categories.
This book examines the underlying conditions that give rise to states that are effective, efficient, and bureaucratically inclusive with their developmental policies. In spite of humanity’s significant advancements in science, technology and institutionalization of universal human rights conventions in the last seven decades, many countries are still failing to achieve successful development results. As a result, enormous levels of inequality, poverty, and malnutrition prevail. This book focuses on the role of the state in the political economy of development, tracing the socio-economic origins of effective state institutions from a comparative historical-institutional perspective. Drawing on the case studies of South Korea, Brazil, India, Spain, France, and England, the study looks at how good state institutions form, and why these are central to the socioeconomic advancement of their populations. The book contends that effective developmental states are those in which state actors are able to effectively diminish and co-opt the power of the country’s landed elites during the early years of state building. Effectively, the power balance between these two classes determines the developmental trajectory of the state. Considering agrarian reform as the foremost indispensable policy tool to open conditions for positive changes in effective taxation, education, healthcare, and strategic sustainable industrial policies, this analysis offers a significant contribution to the literature on the sociology of institutions and the political economy of development. As well as being a key reading for advanced students and researchers in these areas, this book draws real-life policy lessons for practitioners and policy makers in the developing world.
The Law And Economics Of Globalisation
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Author : Linda Y. Yueh
language : en
Publisher: Edward Elgar Publishing
Release Date : 2009-01-01
The Law And Economics Of Globalisation written by Linda Y. Yueh 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 2009-01-01 with Political Science categories.
The diversity of author backgrounds, coupled an assortment of provocative insights, makes this book a useful tool for delving into the meat of globalization, providing a succinct but authoritative overview of the underpinnings necessary to appreciate the who, what, where, and when of globalization. American Society of International Law This is a fascinating and insightful set of essays, the relevance of which has only increased with the financial and economic crisis. The ideas and basic positions of the authors range wide, but that is exactly what we require as we struggle to understand twenty-first century globalisation and what to do about it. I should like to see it in the hands of all academics and policy-makers working on global affairs. Alan Winters, University of Sussex, Chief Economist, UK Department for International Development and Former Head of Research, the World Bank This inter-disciplinary volume focuses on the economic and legal challenges confronting globalisation and the evolution of the global system. The Law and Economics of Globalisation discusses the hotly debated topic of globalisation from a wide set of perspectives of law, economics and international political economy. The authors shed new light on the legal, economic and institutional issues raised by globalisation, extending into areas previously considered as national issues. They discuss how the development of the norms, institutions and reach of the global system will be influenced by the domestic and international concerns arising from the increasing integration of countries in the new century. With contributions from lawyers, economists and other experts in the field, this book will be welcomed by academics, students, researchers, and policymakers who are interested in a comprehensive volume on economic globalisation. It will also appeal to a wider audience, such as executive education courses, as well as business and law schools.
Law And Finance
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Author : Thorsten Beck
language : en
Publisher: World Bank Publications
Release Date : 2002
Law And Finance written by Thorsten Beck 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 2002 with Finance categories.
New research suggests that cross-country differences in legal origin help explain differences in financial development. This paper empirically assesses two theories of why legal origin influences financial development. First, the political' channel stresses that (i) legal traditions differ in the priority they give to the rights of individual investors vis- ...-vis the state and (ii) this has repercussions for the development of property rights and financial markets. Second, the adaptability' channel holds that (i) legal traditions differ in their ability to adjust to changing commercial circumstances and (ii) legal systems that adapt quickly to minimize the gap between the contracting needs of the economy and the legal system's capabilities will foster financial development more effectively than would more rigid legal traditions. We use historical comparisons and cross-country regressions to assess the validity of these two channels. We find that legal origin matters for financial development because legal traditions differ in their ability to adapt efficiently to evolving economic conditions.
The Rule Of Law Economic Development And Corporate Governance
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Author : Nadia E. Nedzel
language : en
Publisher: Edward Elgar Publishing
Release Date : 2020-08-28
The Rule Of Law Economic Development And Corporate Governance written by Nadia E. Nedzel 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 2020-08-28 with Law categories.
Grounded in history and written by a law professor, this book is a scholarly yet jargon-free explanation of the differences between the common and civil law concepts of the rule of law, and details how they developed out of two different cultural views of the relationships between law, individuals, and government. The author shows how those differences lead to differences in economic development, entrepreneurship, and corporate governance.
Law Capitalism And Power In Asia
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Author : Kanishka Jayasuriya
language : en
Publisher: Routledge
Release Date : 2006-06-19
Law Capitalism And Power In Asia written by Kanishka Jayasuriya and has been published by Routledge this book supported file pdf, txt, epub, kindle and other format this book has been release on 2006-06-19 with Social Science categories.
A challenging and provocative book that contests the liberal assumption that the rule of law will go hand in hand with a transition to market-based economies and even democracy in East Asia. Using case studies from Hong Kong, China, Indonesia, Malaysia, Taiwan, Japan and Vietnam, the authors argue that the rule of law is in fact more likely to provide political elites with the means closely to control civil society. It is essential, therefore, to locate conceptions of judicial independence and the rule of law more generally within the ideological vocabulary of the state.
Law Capitalism
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Author : Curtis J. Milhaupt
language : en
Publisher: University of Chicago Press
Release Date : 2008-09-15
Law Capitalism written by Curtis J. Milhaupt and has been published by University of Chicago Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2008-09-15 with Law categories.
Recent high-profile corporate scandals—such as those involving Enron in the United States, Yukos in Russia, and Livedoor in Japan—demonstrate challenges to legal regulation of business practices in capitalist economies. Setting forth a new analytic framework for understanding these problems, Law and Capitalism examines such contemporary corporate governance crises in six countries, to shed light on the interaction of legal systems and economic change. This provocative book debunks the simplistic view of law’s instrumental function for financial market development and economic growth. Using comparative case studies that address the United States, China, Germany, Japan, Korea, and Russia, Curtis J. Milhaupt and Katharina Pistor argue that a disparate blend of legal and nonlegal mechanisms have supported economic growth around the world. Their groundbreaking findings show that law and markets evolve together in a “rolling relationship,” and legal systems, including those of the most successful economies, therefore differ significantly in their organizational characteristics. Innovative and insightful, Law and Capitalism will change the way lawyers, economists, policy makers, and business leaders think about legal regulation in an increasingly global market for capital and corporate governance.
Law And The Economy In A Young Democracy
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Author : Tirthankar Roy
language : en
Publisher: University of Chicago Press
Release Date : 2022-02-08
Law And The Economy In A Young Democracy written by Tirthankar Roy and has been published by University of Chicago Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2022-02-08 with Business & Economics categories.
"Tirthankar Roy and Anand V. Swamy trace India's economic growth since 1947 and the legal reforms that have allowed it to settle in, however unevenly and tenuously, in the shadow of the stagnating effects of colonial rule. Law and the Economy in a Young Democracy portrays a long shadow of Indian "path dependence"-the persistence of colonial-era legal practices and institutions-interrupted by a series of reactive, dramatic departures from colonial inertia aimed at achieving quick or corrective growth and regulation. Roy and Swamy address five principal questions: How have new laws emerged in India? Does the explanation lie with colonialism or with post-independence politics and economic change? How were laws shaped by egalitarian goals in the Indian democracy with its universal adult suffrage? When did laws constrain economic growth? And to what extent did case law and legislation affect the evolution of law, which was also shaped by politics and the quality of legal infrastructure? Each of these questions brings together different threads of India's economic transformation and social/political history, and the format allows the authors to go deep on the country's most important market sectors and their surrounding economic and political histories. These sections include: colonialist influences on laws governing land and natural resources; politics and labor; and the alternating stifling effects of the country's economic policies and legal systems. In Roy and Swamy's telling, inadequate legal infrastructure has often been the country's primary impediment to economic growth during the last century, and it remains a primary reason that India's future may not be as bright as advertised"--