The Rule of Law, Legal Traditions, and Economic Growth in East Asia

Meredith Woo-Cumings

No RP2006-53, WIDER Working Paper Series from World Institute for Development Economic Research (UNU-WIDER)

Abstract: This paper examines the literature on the rule of law and economic development, and in particular the influential argument by La Porta et al., on the superiority of the Anglo-American common law system in fostering financial development. In this paper I show that however compelling their argument might be, legal traditions and institutions do not determine the nature of the state, nor its likely role in the economy—nor do they critically determine the course of economic development.

Keywords: Economic development; Government accountability; Institutional economics; Law (search for similar items in EconPapers)
Date: 2006
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Citations: View citations in EconPapers (1)

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