Category Archives: Law and Development

Jacob and Orset, ‘Innovation, information, lobby and tort law under uncertainty’

ABSTRACT Recent environmental policies favour the ’pollutant-payer’ Principle. This principle points out the pollutant financial liability for potential incidents induced by its activities. Investing in technological innovations generates uncertainty on the future returns, as well as on the damages that such innovations could involve and on the cost to reimburse in the event that of […]

Brian Quinn, ‘Developing Fiduciary Culture in Vietnam’

ABSTRACT This Article examines Vietnam’s efforts during the past two and a half decades to build up its legal infrastructure during its transition from a centrally planned to a market economy. In particular, this Article will focus on the development of legal and regulatory infrastructure to support the development of the corporate sector and fiduciary […]

Cai, Murtazashvili and Murtazashvili, ‘The Politics of Land Property Rights’

ABSTRACT Legal reforms that improve the security of private property rights to land have characteristics of a public good with dispersed benefits. However, nothing ensures that the state will provide property protection as a public good. Some states provide property protection selectively to powerful groups. Others are unable to provide property protection. In this paper, […]

Dari‐Mattiacci and Fabbri, ‘The Virtuous Cycle of Property’

ABSTRACT We show that formalizing private property rights has a positive effect on the propensity to respect the property of others, a social preference with important implications for growth and economic development. Our identification strategy is based on a unique feature of a recent large-scale land-tenure reform in West Africa, which was the first of […]

Christopher Rodgers, ‘Towards a Taxonomy for Public and Common Property’

ABSTRACT This article argues that public property rights should be recognised as a separate category of property interest, different and distinct from private and common property interests and conferring distinctive rights and obligations on both ‘owners’ and members of the public. It develops a taxonomy to differentiate private, public and common property rights. The article […]

Thomas Papadopoulos, ‘Building the Legal Framework of Privatizations in Cyprus: The Missing Link with Sustainable Development’

Abstract This article presents and scrutinizes the Privatizations Law of the Republic of Cyprus, in the context of sustainable development. Cyprus was another victim of the Eurozone crisis. A bailout agreement was reached between Cyprus and its creditors. This bailout agreement was accompanied by a Memorandum of Understanding (MoU) on specific Economic Policy Conditionality requiring […]

Carmine Guerriero, ‘Property Rights, Transaction Costs, and the Limits of the Market’

Abstract Although the relevance of property rights and transaction costs for trade and innovation are well-known, we still lack a formal framework to think about their origins and interplay. Within trade interactions, fully protecting the original owners’ property implies that some high-valuation potential buyers inefficiently refuse to buy it because of transaction costs. When instead […]

Robin Malloy, ‘Law, Market, and Marketization’

Abstract: Marketization is a process occurring in many transitional economies as countries seek to adjust their legal systems to facilitate broader market participation while expanding global trade. This essay sets out one way of understanding this process by focusing on the relationship among, law, markets, and marketization. It identifies and explains basic legal requirements for […]

Jean-François Gaudreault-DesBiens, ‘On the Relative Pertinence of the Civil Law/Common Law Dichotomy When Reflecting on the Relationship between Comparative Law, Development Law and Living Law. Some Observations in the African Context’

Abstract: This article examines the pertinence of resorting to the civil law/common law dichotomy in the context of the use of legal comparison to evaluate the relative ‘performance’ of states in the development field. It accordingly looks into the growing importance of neo-institutionalist analysis in law and development economics, in order to conclude that if […]

Antonio Perez, ‘The Hedgehog, the Fox, and Kozolchyk: The Practical and Philosophical Foundations of Best Practices in Legal Harmonization for Economic Development’

Abstract: This essay explicates Professor Boris Kozolchyk’s magnum opus, Comparative Commercial Contracts, as a vehicle for exploring the practical and philosophical foundations for effective efforts to promote international legal harmonization in private law. Its central thesis is that good practices are founded on the philosophical premises embedded in Kozolchyk’s work, which in turn are drawn […]