Legal Institutions and Economic Development

Thorsten Beck
2010 Social Science Research Network  
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
more » ... al conflict, the legal origin and the culture and religion hypotheses.
doi:10.2139/ssrn.1669100 fatcat:oqjlhb2mkjeaplb5b66qzv5cpe