La Legal Origins Theory: droit, économie, idéologie

Antoine Vandenbulke

Revue internationale de droit économique, 2017, vol. t. XXXI, issue 1, 79-130

Abstract: The Legal Origins Theory argues that the legal origins of a state have a significant influence on its economic growth. This theory originated mainly and prospered in the field of company law. A group of researchers has enquired about the degree of protection granted to minority shareholders in various states throughout the world. They concluded that states belonging to the legal family of common law granted the best protection, sourcing an efficient market and easing their economic growth. The Legal Origins Theory spread out widely and expanded to several other legal domains, while continuing to emphasize and highlight the efficiency of the common law. It was furthermore at the heart of the ?Doing Business? reports of the World Bank. This theory has led to many critiques, which the present paper aims to show. Beyond this analysis and the review of criticisms, our study finally attempts to identify the philosophical assumptions that support the Theory of Legal Origins, through the review of the developments authored by Friedrich von Hayek and Bruno Leoni.

Keywords: Legal Origins Theory; comparative law; law and economics; philosophical influences (search for similar items in EconPapers)
Date: 2017
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