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| Author: | Berkowitz, D. Pistor, K. Richard, J-F. |
| Title: | Economic development, legality, and the transplant effect |
| Journal: | European Economic Review
2003 : FEB, VOL. 47:1, p. 165-195 |
| Index terms: | Legislation International |
| Language: | eng |
| Abstract: | This paper analyzes the determinants of effective legal institutions (legality) using data from 49 countries. It is shown that the way the law was initially transplanted and received is a more important determinant than the supply of law from a particular legal family. Countries that have developed legal orders internally, adapted the transplanted law, and/or had a population that was already familiar with basic principles of the transplanted law have more effective legality than countries that received foreign law without any similar predispositions. The transplanting process has a strong indirect effect on economic development via its impact on legality, while the impact of particular legal families is weaker and not robust to alternative legality measures. |
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