Law, Informal Rules and Economic Performance: The Case for Common Law - Hardcover

Pejovich, Svetozar; Colombatto, Enrico

Hardcover

ISBN 10: 1845428730 ISBN 13: 9781845428730

Publisher: Edward Elgar Publishing Ltd, 2008

Synopsis

Capitalism has outperformed all other systems and maintained a positive growth rate since it began. Svetozar Pejovich makes the case within this book that a major reason for the success of capitalism lies in the efficiency-friendly incentives of its basic institutions, which continuously adjust the rules of the game to the requirements of economic progress. The analysis throughout is consistent and is supported by evidence. Key components of the proposed theory are the rule of law, the market for institutions, the interaction thesis, the carriers of change, and the process of changing formal and informal institutions.

This book will be of great interest to academics and students of law and economics, new institutional economics, comparative systems and public choice throughout the world and especially in East Asia and South America where institutional issues are being debated.

About this title

About the Author

Svetozar Pejovich, Professor Emeritus, Texas A&M University, US, Honorary Doctorate, University of Belgrade, Serbia and Professor of Law and Economics, University of Donja Gorica, Montenegro; with contributions from Enrico Colombatto, Professor of Economics, School of Economics, University of Turin, Italy

Edition details

• Publisher: Edward Elgar Publishing Ltd
• Publication date: 2008
• Language: English
• ISBN 10: 1845428730
• ISBN 13: 9781845428730
• Binding: Hardcover
• Number of pages: 192