scholarly journals Law & Capitalism: What Corporate Crises Reveal about Legal Systems and Economic Development around the Worldby Curtis J. Milhaupt and Katharina Pistor

2009 ◽  
Vol 124 (4) ◽  
pp. 768-769 ◽  
Author(s):  
Ruth V. Aguilera ◽  
Abhijeet K. Vadera
Keyword(s):  
Economic Development ◽  
Legal Systems ◽  
Corporate Crises

Legal Systems and Economic Development

2019 ◽  
pp. 537-541
Author(s):  
Katharina Pistor
Keyword(s):  
Economic Development ◽  
Social Relations ◽  
Causal Relation ◽  
Economic Change ◽  
Economic Outcomes ◽  
Wishful Thinking ◽  
Systemic Effects ◽  
Legal Systems ◽  
Power Structures

Legal systems and economic development stand in a complex, interdependent relation to one another. Attempts to identify a causal relation from law to economic outcomes have mostly failed, because they don’t take into account the effect of legal and economic change on power structures, and more broadly, on social relations. In part this can be attributed to the conceptual blindness of certain disciplines that focus on micro-constellations and largely ignore systemic effects; in part, it is the result of wishful thinking in policymaking institutions that have time and again tried to use law as an instrument for engineering economic change.

scholarly journals Imperial Rule, the Imposition of Bureaucratic Institutions, and their Long-Term Legacies

2019 ◽  
Vol 71 (04) ◽  
pp. 806-863 ◽  
Author(s):  
Jan P. Vogler
Keyword(s):  
Economic Development ◽  
Policy Implementation ◽  
Political Institutions ◽  
Significant Variation ◽  
Original Data ◽  
Statistical Analyses ◽  
Legal Systems ◽  
Long Term Effects ◽  
Bureaucratic Institutions

AbstractSignificant variation in the institutions and efficiency of public bureaucracies across countries and regions are observed. These differences could be partially responsible for divergence in the effectiveness of policy implementation, corruption levels, and economic development. Do imperial legacies contribute to the observed variation in the organization of public administrations? Historical foreign rule and colonization have been shown to have lasting effects on legal systems, political institutions, and trade in former controlled territories. Imperial legacies could also explain variations in the performance of public administrations. The author uses the case of Poland to investigate the long-term effects of foreign rule on bureaucratic systems. Historically, Poland was split between three imperial powers with very different public administrations: Prussia, Austria, and Russia. Statistical analyses of original data collected through a survey of more than 650 Polish public administrations suggest that some present-day differences in the organization and efficiency of bureaucracies are due to imperial legacies.

Organizational and legal institutions, and the performance of microfinance institutions as hybrid entities

2020 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Atthaphon Mumi ◽  
George Joseph ◽  
Shakil Quayes
Keyword(s):  
Economic Development ◽  
Financial Performance ◽  
Organizational Structures ◽  
Policy Implications ◽  
Performance Criteria ◽  
Legal Systems ◽  
Microfinance Institutions ◽  
Content Type ◽  
Dual Performance ◽  
Social Outreach

Purpose Microfinance institutions (MFIs) play an important role in economic development, with the dual objectives of social outreach and financial self-sufficiency. The purpose of this study is to examine the influence of organizational structure and variations in legal systems on the MFI dual performance goals. Design/methodology/approach Using a sample that includes 1,518 MFIs from 105 different countries over a period of 20 years, this study analyzes the data by applying a model that includes six categories of organizational structures and variations of legal systems, including both civil and common law, with accounting performance measures for the dependent variables. Findings The analyses provide robust results indicating that MFIs structured as non-governmental organizations (NGOs) have better social outreach than all other types of MFIs and exhibit better financial performance than MFIs registered as commercial banks or credit unions. Legal systems also played a role in MFI effectiveness. Research limitations/implications Given the increasing importance of MFIs on economic development globally, this study has relevance on how the impact of MFI structural characteristics and macro-level influences on their dual performance criteria can be translated into management approaches and governance policies that can increase the effectiveness of these dual (i.e. social and financial) goals. Originality/value This study is more comprehensive than prior research in addressing the influence of organizational structures of MFIs and legal systems on MFI dual mission, namely, its financial performance and social outreach, thereby increasing our understanding of policy implications in sustaining the MFI’s developmental role.

Effective Legal Systems and Foreign Direct Investment: In Search of the Evidence

2000 ◽  
Vol 49 (4) ◽  
pp. 779-799 ◽  
Author(s):  
Amanda Perry
Keyword(s):  
Economic Development ◽  
Foreign Direct Investment ◽  
Legal System ◽  
Direct Investment ◽  
Legal Systems ◽  
Foreign Investors ◽  
Short Answer ◽  
Development Agencies

What do we know about the role of legal systems as determinants of the location of foreign direct investment (FDI)? The short answer to this question is: not enough.1 In recent decades, most governments have come to believe that FDI is an important source of the capital and technology necessary for economic development, and to seek new ways to induce foreign investors to locate within their jurisdiction.2 Commentators and development agencies regularly argue or imply that FDI flows are to some extent determined by the effectiveness of the host State's legal system.3 That is, it is suggested that the manner in which laws are implemented in a State can act as a deterrent or an attraction to potential foreign investors.4

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