The Law-growth Nexus
The Rule of Law and Economic Development
By (author) Kenneth W. Dam
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Law-growth Nexus by Kenneth W. Dam
Book DescriptionAn increasingly popular view holds that institutions--in particular, the rule of law--are the keys to unlocking the developing world's full growth potential. But what exactly does this mean? Which legal institutions matter and why? How can policymakers use this knowledge to promote growth? In The Law-Growth Nexus , Kenneth Dam brings five decades of experience as a legal scholar and policymaker to bear upon these questions. After reviewing the burgeoning literature on legal institutions and economic development, Dam unpacks the "rule of law" concept. Successive chapters analyze enforcement, contracts, and property rights --the three concepts that collectively define rule of law --and examine their roles in the real estate and financial sectors. Dam uses an extended analysis of China to assess the importance of the rule of law. This case study illustrates several of the book's central themes, including the difficulty of building a strong, independent judiciary and firstclass financial sector. The stark fact is that many parts of what we call the developing world have stopped developing, while other regions have seen a slowdown in once-promising growth. Could new or better legal institutions help jumpstart these economies? In exploring this question, Th e Law-Growth Nexus g oes beyond regression results to examine the underlying mechanisms through which the law, the judiciary, and the legal profession influence the economy. The result is essential reading for analysts and policymakers facing the challenges of legal and economic reform.
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Book DetailsISBN: 9780815717201
(229mm x 152mm x 30mm)
Imprint: Brookings Institution
Publisher: Brookings Institution
Publish Date: 13-Nov-2006
Country of Publication: United States
Books By Author Kenneth W. Dam
Rules of the Global Game, Paperback (April 2004)
Economic news once confined to the business pages of the newspaper now recieves headline coverage, whether it involves protests in Seattle or sweatshops in Asia. This book provides a framework to help noneconomists understand and answer the questions raised by such economic reportage.
Economic Policy Beyond the Headlines, Paperback (July 1998)» View all books by Kenneth W. Dam
Drawing on their experience as government insiders, the authors of this book show how economic policy is shaped at the highest levels of government. They reveal the interconnections between economic, social and international policy, covering such issues as the advocacy system.
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Author Biography - Kenneth W. Dam
Kenneth W. Dam is Max Pam Professor of American and Foreign Law and senior lecturer at the University of Chicago Law School and a senior fellow at the Brookings Institution, Washington, D.C., USA. He served as deputy secretary of the Treasury from 2001 to 2003 and as deputy secretary of state from 1982 to 1985. He is the author, most recently, of The Rules of the Global Game: A New Look at U.S. International Policymaking (University of Chicago, 2001).
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