Institutional competition between common law and civil law theory and policy /
This book addresses two countervailing challenges to theory and policy in law and economics. The first is the rise of legal origins theory, which denies the comparative law view of convergence between common law and civil law by the assertion of an economic superiority of common law. The second is t...
| Other Authors: | Schmiegelow, Michèle,, Schmiegelow, Henrik,, SpringerLink (Online service) |
|---|---|
| Format: | eBook |
| Language: | English |
| Published: |
Berlin :
Springer,
2014.
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| Physical Description: |
1 online resource. |
| Subjects: |
Table of Contents:
- Preface; Acknowledgments; Abbreviations; Contents; Contributors; About the Authors; Part I: Introduction; Chapter 1: Interdisciplinary Issues in Comparing Common Law and Civil Law; 1.1 The C̀̀omparative Quality ́ ́of Common Law and Civil Law as an Issue of Policy; 1.1.1 Law in the Philosophy of the Open Society and in Institutional Economics; 1.1.2 Spontaneous Transformation Assistance After the End of the Cold War; 1.1.3 The Recent Debate on the Comparative Quality of Common Law and Civil Law; 1.2 Problems of Political Science, Sociology, Economics, Law and History.
- 1.3 The Importance of Refocusing on the Primary Sources of Institutional Economics1.3.1 The Need for a Reassessment of the Functional Qualities of Modern Civil Law Systems; 1.3.2 Recognizing the Convergence of Common Law and Civil Law; 1.3.3 Measuring Transaction Costs, Comparing Macro-Economic Performance and Locational Quality Indicators with Improved Method ... ; 1.4 Analyzing Failed and Successful T̀̀ransplants ́ ́of Legal Systems; References; Part II: Testing the Economic Impact of Common Law and Civil Law in Today ś Developed Countries.
- Chapter 2: Identifying the Effect of Institutions on Economic Growth2.1 Introduction; 2.2 Measurements of Institutional Quality; 2.3 Correlation with Economic Development; 2.4 Identifying Causation; 2.4.1 Insights from the Current Literature; 2.4.2 Discussion and Caveats; 2.5 Conclusion; References; Chapter 3: Contract Rules in Codes and Statutes: Easing Business Across the Cleavages of Legal Origins; 3.1 Introduction; 3.1.1 Recalling the Importance of Contract Law Codification in Economic Development; 3.1.2 Focusing on Paradigm Countries with Landmark Codifications of Contract Law.
- 3.1.3 Attaining Robustness for Small Sample Through a Long Time Series3.2 Codified Contract Rules in the Legal and Economic Histories of Selected Countries; 3.2.1 Selection of Contract Types Important for Business; 3.2.2 Selection of the Sample of Countries; 3.2.3 Short Reviews of the Legal and Economic Histories of the Countries Selected; 3.2.3.1 Civil Law Countries; 3.2.3.2 Common Law Countries: UK and US; 3.2.3.3 The Debate on Non-legal Factors in Financial Market Development; 3.2.3.4 Codified Default Rules in the Contract Types Selected; 3.2.4 Economic Performance of Selected Countries.
- 3.3 Empirical Results3.3.1 Specification; 3.3.2 Econometric Issues; 3.3.3 Benchmark Results; 3.3.4 Robustness Checks; 3.3.5 Numerical Illustration; 3.4 Conclusion; References; Chapter 4: Contract Modification as a rebus sic stantibus Solution to the Subprime Crisis; 4.1 Introduction; 4.2 The Subprime Crisis as a Cognitive Reversal; 4.3 How rebus sic stantibus Could Function in the Current Crisis; 4.4 A Legislative or a Judge-Made Solution?; 4.5 The Pattern of Change in M̀̀acro ́-́Circumstances: Germany ś Hyperinflation, Paul Oertmann, and RG 103, 328.