“How large are the welfare losses associated with inefficient courts? Legal scholars and economists have long grappled with this important question because inefficiencies in the court system are jointly determined with other factors. For example, poorer countries often have more poorly designed laws, as well as fewer and less qualified court staff. This makes assessing the costs of inefficient courts a difficult task: to find plausible estimates, one would need variation in court efficiency that is unrelated to other local factors …” (more)
[Karsten Müller, Oxford Business Law Blog, 7 September]
First posted 2018-09-08 07:58:07
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