The Rule of Law and Economic Growth: Where are We?
Stephan Haggard and
World Development, 2011, vol. 39, issue 5, 673-685
Summary It is widely assumed that the rule of law is essential for economic growth. However, the rule of law is clearly a multidimensional concept, encompassing a variety of discrete components from security of person and property rights, to checks on government and control of corruption. We review the theory underlying these different causal mechanisms linking the rule of law to economic growth, and provide an introduction to some outstanding measurement issues. We find that the correlation among different components of the rule of law concept are not tight among developing countries and that some inferences about the effects of property rights protection may not be warranted.
Keywords: rule; of; law; economic; growth; institutions; economic; volatility; developing; countries (search for similar items in EconPapers)
References: View references in EconPapers View complete reference list from CitEc
Citations View citations in EconPapers (21) Track citations by RSS feed
Downloads: (external link)
Full text for ScienceDirect subscribers only
This item may be available elsewhere in EconPapers: Search for items with the same title.
Export reference: BibTeX
RIS (EndNote, ProCite, RefMan)
Persistent link: https://EconPapers.repec.org/RePEc:eee:wdevel:v:39:y:2011:i:5:p:673-685
Access Statistics for this article
World Development is currently edited by O. T. Coomes
More articles in World Development from Elsevier
Series data maintained by Dana Niculescu ().