 Justice as efficiency: Courts and the allocation of electricity in ChinaTong Fu, Feng He and Brian Lucey Journal of International Financial Markets, Institutions and Money, 2023, vol. 84, issue C Abstract: This paper explores how the justice of courts affects the allocative efficiency of electricity. We argue that courts with the justice objective will guarantee the allocative efficiency of electricity. With micro-evidence from China, we measure the allocative efficiency of electricity by the elasticity of the reliability of electricity on value added per employee in regression. We then verify that justice in courts positively moderates the elasticity of interest with robustness to the potential endogeneity bias and that corruption as a proxy for injustice has a negative moderation effect. Therefore, we document that the quality of courts determines the allocative efficiency of electricity, thereby enhancing the understanding of economic institutions for sustainable development. Keywords: Justice; Courts; Allocative efficiency; Electricity (search for similar items in EconPapers) Downloads: (external link) Related works: Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text Persistent link: https://EconPapers.repec.org/RePEc:eee:intfin:v:84:y:2023:i:c:s1042443123000148 DOI: 10.1016/j.intfin.2023.101746 Access Statistics for this article Journal of International Financial Markets, Institutions and Money is currently edited by I. Mathur and C. J. Neely More articles in Journal of International Financial Markets, Institutions and Money from Elsevier |
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