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This volume provides a unique overview of methodologies that are conducive to a successful legal transplant in East Asia and Oceania. Each chapter is drafted by a scholar who holds direct professional experience on the legal transplant considered and has a distinctive insight into the pragmatic difficulties related to grafting an alien institution into a legal tradition. The range of transplants includes the implementation of contractual obligations, the regulation of commercial investments and the protection of the environment. The majority of recent legal reforms in these geographical areas have aimed at improving national economic performance and fostering trade and have been directly inspired by European and North American institutional experiences. There is also, however, a tendency to couple economic reforms, aimed at attracting foreign investment, with constitutional reforms that improve the protection of individual rights, the environment and the rule of law.
With the right method, aggregate indicators can provide useful estimates of basic governance concepts as well as measures of the imprecision of these aggregate estimates and their components.
Inevitably, at a panel discussion not too long ago comparing planning cultures the discussion turned on the issue of globalisation. As a member of the panel, this author asked those in the audience who lived and/or worked in a country different from their country of origin to raise their hands. About half of the audience of well over one hundred academic teachers and researchers from all comers of the world, the present author included did so. Next he asked who had a spouse or partner from a country different from their country of origin to also raise their hands. About half of the audience, the present author included, raised their hands. This is the soft side of globalisation. The soft side of globalisation is important. Exchanges, personal mobility, international romances, multi-culturalism and multi-lingualism (inevitably meaning non-native speakers struggling to keep up with native English speakers) are part of the academic scene, so much so that we can hardly imagine it to be otherwise. These are not entirely new phenomena, but they have become ever more prominent, relying on an ever more elaborate institutional infrastructure of exchange programmes, international journals, associations and the global conference industry. It was at the AESOP (Association of European Schools of Planning) congress at Bmo in the Czech Republic in July 2000 that the plan for this book was hatched.
This book draws on the analytical framework of New Institutional Economics (NIE) to critically examine the role which law and the legal system play in economic development. Analytical concepts from NIE are used to assess policies which have been supported by multilateral development organisations including securing private property rights, reform of the legal system and financial development. The importance of culture in shaping the legal environment, which in turn influences financial sector development, is also assessed using Oliver Williamson’s ‘levels of social analysis’ framework.
Recent high-profile corporate scandals—such as those involving Enron in the United States, Yukos in Russia, and Livedoor in Japan—demonstrate challenges to legal regulation of business practices in capitalist economies. Setting forth a new analytic framework for understanding these problems, Law and Capitalism examines such contemporary corporate governance crises in six countries, to shed light on the interaction of legal systems and economic change. This provocative book debunks the simplistic view of law’s instrumental function for financial market development and economic growth. Using comparative case studies that address the United States, China, Germany, Japan, Korea, and Russia, Curtis J. Milhaupt and Katharina Pistor argue that a disparate blend of legal and nonlegal mechanisms have supported economic growth around the world. Their groundbreaking findings show that law and markets evolve together in a “rolling relationship,” and legal systems, including those of the most successful economies, therefore differ significantly in their organizational characteristics. Innovative and insightful, Law and Capitalism will change the way lawyers, economists, policy makers, and business leaders think about legal regulation in an increasingly global market for capital and corporate governance.
Why are carefully designed, sensible policies too often not adopted or implemented? When they are, why do they often fail to generate development outcomes such as security, growth, and equity? And why do some bad policies endure? World Development Report 2017: Governance and the Law addresses these fundamental questions, which are at the heart of development. Policy making and policy implementation do not occur in a vacuum. Rather, they take place in complex political and social settings, in which individuals and groups with unequal power interact within changing rules as they pursue conflicting interests. The process of these interactions is what this Report calls governance, and the space in which these interactions take place, the policy arena. The capacity of actors to commit and their willingness to cooperate and coordinate to achieve socially desirable goals are what matter for effectiveness. However, who bargains, who is excluded, and what barriers block entry to the policy arena determine the selection and implementation of policies and, consequently, their impact on development outcomes. Exclusion, capture, and clientelism are manifestations of power asymmetries that lead to failures to achieve security, growth, and equity. The distribution of power in society is partly determined by history. Yet, there is room for positive change. This Report reveals that governance can mitigate, even overcome, power asymmetries to bring about more effective policy interventions that achieve sustainable improvements in security, growth, and equity. This happens by shifting the incentives of those with power, reshaping their preferences in favor of good outcomes, and taking into account the interests of previously excluded participants. These changes can come about through bargains among elites and greater citizen engagement, as well as by international actors supporting rules that strengthen coalitions for reform.
East Asia's dynamic entrance into the global economy has provided a fruitful avenue for research in economic sociology. In this perceptive and timely volume, authors Nicole Woolsey Biggart, Gary G. Hamilton, and the late Marco Orru theorize Asian capitalism and analyze the economic organization of East Asia. Presenting differing dimensions of a Weberian perspective, the authors first provide a theoretical grounding, then consider capitalism in East Asia comparatively, and finally contrast the economies of East Asia and Europe. The Economic Organization of East Asian Capitalism shows how radically different social and cultural institutions can lead to economies that are organized and work in remarkably similar ways. This thought-provoking volume will be essential for students and professionals in the fields of political science, management, third world studies, sociology, international relations, international business, and cross-cultural studies.
This volume provides the first sustained analysis examining legal transplantation into East Asia. In addition to developing theoretical insights, the project provides a textured account of the political, economic and legal discourses guiding commercial law reforms in Vietnam