Entrepreneurship and Innovation in Evolving Economies
Show Less

Entrepreneurship and Innovation in Evolving Economies

The Role of Law

  • Elgar Law and Entrepreneurship series

Edited by Megan M. Carpenter

Entrepreneurship and Innovation in Evolving Economies examines the role of law in supporting innovation and entrepreneurship in communities whose economies are in transition. It contains a collection of works from different perspectives and tackles tough questions regarding policy and practice, including how support for entrepreneurship can be translated into policy. Additionally, this collection addresses more concrete questions of practical efficacy, including measures of how successful or unsuccessful legal efforts to incentivize entrepreneurship may be, through intellectual property law and otherwise, and what might define success to begin with.
Buy Book in Print
Show Summary Details

Chapter 10: The Rule of Law, Privatization, and the Promise of Transborder Licensing

Andrea L. Johnson

Extract

Law, privatization, and the promise of transborder licensing 10. The rule of law, privatization, and the promise of transborder licensing Andrea L. Johnson* Rules don’t ensure sustainable economic development; people do. I. INTRODUCTION The rule of law in the international context is defined using different terminology, but has the same basic components: a set of rules by which persons have equal access to a legal system that is transparent, has an independent decision-making body, and where the rules are applied in a nondiscriminatory fashion.1 Historically, a government’s failure to adhere to the rule of law leads to a lack of trust and predictability necessary to attract foreign investment. In the 1990s, privatization of state-owned assets and enterprises in developing countries became a plausible way to stabilize financial markets, spur foreign investment, retire debt, and improve local economies.2 The theory was that foreign investment in sectors such as telecommunications stimulated economic development in new and existing * The author would like to acknowledge Tara Pelan, Esq. for her valuable contributions to this chapter. 1 See Simon Chesterman, An International Rule of Law?, 56 Am. J. Comp. L. 331 (2008) (hereinafter “Chesterman”). The World Justice Project (WJP) identifies four universal principals for the rule of law: 1) government and its officials are accountable under the law; 2) the laws are clear, publicized, stable and fair, and protect fundamental rights, including the security of persons and property; 3) process by which the laws are enacted, administered, and enforced is accessible, fair, and efficient; and...

You are not authenticated to view the full text of this chapter or article.

Elgaronline requires a subscription or purchase to access the full text of books or journals. Please login through your library system or with your personal username and password on the homepage.

Non-subscribers can freely search the site, view abstracts/ extracts and download selected front matter and introductory chapters for personal use.

Your library may not have purchased all subject areas. If you are authenticated and think you should have access to this title, please contact your librarian.


Further information

or login to access all content.