This book draws on the analytical framework of New Institutional Economics (NIE) to critically examine the role which law and the legal system play in economic development. Analytical concepts from NIE are used to assess policies which have been supported by multilateral development organisations including securing private property rights, reform of the legal system and financial development. The importance of culture in shaping the legal environment, which in turn influences financial sector development, is also assessed using Oliver Williamson’s ‘levels of social analysis’ framework.
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Bridging Economic and Legal Perspectives
The author addresses the role of criminal justice in anti-corruption by investigating assumptions in the classic law and economics approach and debating the underlying criteria for an efficient criminal justice system. Drawing on real life challenges from the policy world, the book combines insights from the literature with updated knowledge about practical law enforcement constraints. Political and administrative incentive problems, which may hinder the implementation of efficient solutions, are presented and debated.
New Developments and Empirical Evidence
Edited by Michael Faure and Xinzhu Zhang
This book focuses on experiences with the Anti-Monopoly Law (AML) of 2007 in China. It uses carefully-chosen case studies to examine how the competition authorities in China discuss cases and how they use economic reasoning in their decision-making process.
Simon Deakin and Katharina Pistor
In this research review, Professor Deakin and Professor Pistor include those key articles which highlight the major contributions to, but also the inherent limits of, the legal origin literature. They consider the merits of this approach in the context of three fields of inquiry: the study of comparative law; the analysis of the relation between law and markets; and the understanding of the role of legal systems in social ordering.
Institutional Determinants of Development
Michael J. Trebilcock and Mariana Mota Prado
This important book focuses on the idea that institutions matter for development, asking what lessons we have learned from past reform efforts, and what role lawyers can play in this field.
Edited by Julio Faundez and Celine Tan
International Economic Law, Globalization and Developing Countries explores the impact of globalization on the international legal system, with a special focus on the implications for developing countries.
Charting the Fragile Path of Progress
Michael J. Trebilcock and Ronald J. Daniels
This important book addresses a number of key issues regarding the relationship between the rule of law and development. It presents a deep and insightful inquiry into the current orthodoxy that the rule of law is the panacea for the world’s problems. The authors chart the precarious progress of law reforms both in overall terms and in specific policy areas such as the judiciary, the police, tax administration and access to justice, among others. They accept that the rule of law is necessarily tied to the success of development, although they propose a set of procedural values to enlighten this institutional approach. The authors also recognize that states face difficulties in implementing this institutional structures and identify the probable impediments, before proposing a rethink of law reform strategies and offering some conclusions about the role of the international community in the rule of law reform.