Arbeitspapier
The relevance of judicial procedure for economic growth
It has been argued that procedural formalism undermines economic efficiency by fostering rent-seeking and corruption. We challenge this view by arguing that a number of judicial procedures foster economic growth by increasing the predict-ability of court decisions, which leads to more transactions and higher investment levels. We investigate the effects on economic growth of 15 judicial procedures. Employing a standard growth model, we find in a cross-section of 67 countries that timeliness, writtenas opposed to oralprocedures, and the right to counsel have a positive effect on growth, whereas the number of independent procedural actions as well as the presumption of innocence have negative effects. Our results partially contradict the results of former studies based on the Lex Mundi dataset.
- Sprache
-
Englisch
- Erschienen in
-
Series: MAGKS Joint Discussion Paper Series in Economics ; No. 2008,28
- Klassifikation
-
Wirtschaft
Structure, Scope, and Performance of Government
Legal Procedure, the Legal System, and Illegal Behavior: General
Economic Growth and Aggregate Productivity: General
Comparative Analysis of Economic Systems
- Thema
-
Judicial procedure
legal formalism
judicial Independence
rule of law
investment
growth
- Ereignis
-
Geistige Schöpfung
- (wer)
-
Hayo, Bernd
Voigt, Stefan
- Ereignis
-
Veröffentlichung
- (wer)
-
Philipps-University Marburg, Faculty of Business Administration and Economics
- (wo)
-
Marburg
- (wann)
-
2008
- Handle
- Letzte Aktualisierung
-
10.03.2025, 11:45 MEZ
Datenpartner
Dieses Objekt wird bereitgestellt von:
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
Objekttyp
- Arbeitspapier
Beteiligte
- Hayo, Bernd
- Voigt, Stefan
- Philipps-University Marburg, Faculty of Business Administration and Economics
Entstanden
- 2008
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