Legal Institutions and Economic Growth: A Meta-Analytic Perspective

Ichiro Iwasaki

No 782, Discussion Paper Series from Institute of Economic Research, Hitotsubashi University

Abstract: This study undertakes a meta-analysis of the relationship between legal institutions and economic growth based on 1,074 estimates extracted from 121 studies. The results show that the existing literature consistently reports a positive association between legal institutions and economic growth. At the same time, although simple comparisons suggest differences in effect sizes across legal domains, these differences are not robust once study characteristics are jointly controlled for in the meta-regression analysis. These findings suggest that apparent differences across legal domains may largely reflect variations in empirical conditions and the conceptual overlap of commonly used legal indicators, rather than intrinsic differences in their relationships with economic growth.

Keywords: rule of law; law and order; property rights; economic growth; meta-analysis; publication selection bias (search for similar items in EconPapers)
JEL-codes: E02 K10 K11 O43 P51 (search for similar items in EconPapers)
Pages: 50 pages
Date: 2026-08
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