Legal Institutions and Economic Development
Resource information
Date of publication
December 2010
Resource Language
ISBN / Resource ID
NARCIS:uvt:oai:tilburguniversity.edu:publications/8aa07b48-ce55-4cf6-8754-7a5e1de4bfa8
Copyright details
Open Access, this refers to access without restrictions, and without financial incentives. Access to the resource is gained directly, without any obstacles. From info:eu-repo/semantics/openAccess
Legal institutions are critical for the development of market-based economies. This paper defines legal institutions and discusses different indicators to measure their quality and efficiency. It surveys a large historical and empirical literature showing the importance of legal institutions in explaining cross-country variation in economic development. Finally, it presents and discusses three different views of why we can observe the large cross-country variation in legal institutions, the social conflict, the legal origin and the culture and religion hypotheses.
