Legal Traditions, Legal Reforms and Economic Performance

Theory and Evidence

Nonfiction, Reference & Language, Law, Commercial, Business & Finance, Business Reference, Business Law
Cover of the book Legal Traditions, Legal Reforms and Economic Performance by Daniel Oto-Peralías, Diego Romero-Ávila, Springer International Publishing
View on Amazon View on AbeBooks View on Kobo View on B.Depository View on eBay View on Walmart
Author: Daniel Oto-Peralías, Diego Romero-Ávila ISBN: 9783319670416
Publisher: Springer International Publishing Publication: October 4, 2017
Imprint: Springer Language: English
Author: Daniel Oto-Peralías, Diego Romero-Ávila
ISBN: 9783319670416
Publisher: Springer International Publishing
Publication: October 4, 2017
Imprint: Springer
Language: English

This book investigates whether legal reforms intended to create a market-friendly regulatory business environment have a positive impact on economic and financial outcomes. After conducting a critical review of the legal origins literature, the authors first analyze the evolution of legal rules and regulations during the last decade (2006-2014). For that purpose, the book uses legal/regulatory indicators from the World Bank's Doing Business Project (2015). The findings indicate that countries have actively reformed their legal systems during this period, particularly French civil law countries. A process of convergence in the evolution of legal rules and regulations is observed: countries starting in 2006 in a lower position have improved more than countries with better initial scores. Also, French civil law countries have reformed their legal systems to a larger extent than common law countries and, consequently, have improved more in the majority of the Doing Business indicators used. Second, the authors estimate fixed-effects panel regressions to analyze the relationship between changes in legal rules and regulations and changes in the real economy. The findings point to a lack of systematic effects of legal rules and regulations on economic and financial outcomes. This result stands in contrast to the widespread belief that reforms aiming to strengthen investor and creditor rights (and other market-friendly policies) systematically lead to better economic and financial outcomes.

View on Amazon View on AbeBooks View on Kobo View on B.Depository View on eBay View on Walmart

This book investigates whether legal reforms intended to create a market-friendly regulatory business environment have a positive impact on economic and financial outcomes. After conducting a critical review of the legal origins literature, the authors first analyze the evolution of legal rules and regulations during the last decade (2006-2014). For that purpose, the book uses legal/regulatory indicators from the World Bank's Doing Business Project (2015). The findings indicate that countries have actively reformed their legal systems during this period, particularly French civil law countries. A process of convergence in the evolution of legal rules and regulations is observed: countries starting in 2006 in a lower position have improved more than countries with better initial scores. Also, French civil law countries have reformed their legal systems to a larger extent than common law countries and, consequently, have improved more in the majority of the Doing Business indicators used. Second, the authors estimate fixed-effects panel regressions to analyze the relationship between changes in legal rules and regulations and changes in the real economy. The findings point to a lack of systematic effects of legal rules and regulations on economic and financial outcomes. This result stands in contrast to the widespread belief that reforms aiming to strengthen investor and creditor rights (and other market-friendly policies) systematically lead to better economic and financial outcomes.

More books from Springer International Publishing

Cover of the book Information Technology - New Generations by Daniel Oto-Peralías, Diego Romero-Ávila
Cover of the book Mechanical Circulatory Support for Advanced Heart Failure by Daniel Oto-Peralías, Diego Romero-Ávila
Cover of the book Arithmetic of Finite Fields by Daniel Oto-Peralías, Diego Romero-Ávila
Cover of the book Fundamentals and Applications of Hardcopy Communication by Daniel Oto-Peralías, Diego Romero-Ávila
Cover of the book Graph Transformation, Specifications, and Nets by Daniel Oto-Peralías, Diego Romero-Ávila
Cover of the book Approximation by Max-Product Type Operators by Daniel Oto-Peralías, Diego Romero-Ávila
Cover of the book High Resolution Palaeoclimatic Changes in Selected Sectors of the Indian Himalaya by Using Speleothems by Daniel Oto-Peralías, Diego Romero-Ávila
Cover of the book Political Correctness and the Destruction of Social Order by Daniel Oto-Peralías, Diego Romero-Ávila
Cover of the book Optical Character Recognition Systems for Different Languages with Soft Computing by Daniel Oto-Peralías, Diego Romero-Ávila
Cover of the book Structural Differentiation in Social Media by Daniel Oto-Peralías, Diego Romero-Ávila
Cover of the book The Pursuit of Human Well-Being by Daniel Oto-Peralías, Diego Romero-Ávila
Cover of the book Learning from the Slums for the Development of Emerging Cities by Daniel Oto-Peralías, Diego Romero-Ávila
Cover of the book Recent Global Research and Education: Technological Challenges by Daniel Oto-Peralías, Diego Romero-Ávila
Cover of the book Positive Systems by Daniel Oto-Peralías, Diego Romero-Ávila
Cover of the book The Bulgarian-Byzantine Wars for Early Medieval Balkan Hegemony by Daniel Oto-Peralías, Diego Romero-Ávila
We use our own "cookies" and third party cookies to improve services and to see statistical information. By using this website, you agree to our Privacy Policy