The Economic Consequences of Legal Origins
Экономические последствия правовых истоков
2008-05-01
SCID: 54.1/5j7a5dqu
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economic outcomeseconomic reformlegal originslegal rules and regulations
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Abstract (AI)
In the last decade, economists have produced a considerable body of research suggesting that the historical origin of a country's laws is highly correlated with a broad range of its legal rules and regulations, as well as with economic outcomes. We summarize this evidence and attempt a unified interpretation. We also address several objections to the empirical claim that legal origins matter. Finally, we assess the implications of this research for economic reform.
Key Findings
1
Historical legal origins are strongly correlated with countries’ legal rules and regulations across a broad range of areas.
2
Legal origins are also correlated with important economic outcomes, indicating that institutional legal heritage has economy-wide consequences.
3
The analysis considers the implications of legal-origins research for designing and implementing economic reforms.
4
The paper evaluates and responds to objections challenging the empirical claim that legal origins matter.
5
The research synthesizes disparate empirical findings into a unified interpretation of how legal origins shape economic institutions and performance.
Research Object
Countries' legal origins (the historical origin of a country's laws)
Research Subject
the relationship between legal origins, legal rules and regulations, economic outcomes, and the implications for economic reform
Publication Details
Publication Date
2008-05-01
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