The law-growth nexus : the rule of law and economic development /

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Bibliographic Details
Author / Creator:Dam, Kenneth W.
Imprint:Washington, D.C. : Brookings Institution Press, ©2006.
Description:xii, 323 pages ; 24 cm
Language:English
Subject:Economic development.
Rule of law.
Economic development.
Rule of law.
Format: Print Book
URL for this record:http://pi.lib.uchicago.edu/1001/cat/bib/6162428
Hidden Bibliographic Details
ISBN:0815717202
9780815717201
9780815717201
Notes:Includes bibliographical references (pages 279-311) and index.
Summary:"Examines the underlying mechanisms through which the law, judiciary, and legal profession influence the economy. Analyzes enforcement, contracts, and property rights--the concepts collectively defining rule of law--and examines their roles in the real estate and financial sectors. Extended China analysis assesses the importance of the rule of law"--Provided by publisher.
Standard no.:9780815717201
Description
Summary:

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 g oes 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.

Physical Description:xii, 323 pages ; 24 cm
Bibliography:Includes bibliographical references (pages 279-311) and index.
ISBN:0815717202
9780815717201