Law and Economics

Core References

Judicial Corruption in Developing Countries: Its Causes and Economic Consequences
Berkeley Olin Program in Law & Economics, Working Paper Series, University of California, Berkeley, 1999.
Buscaglia, Edgardo

Provides an overview of the economics of development and corruption. Describes how corruption affects economic development and remedies for corruption.

Law and economics in developing countries
Stanford, Calif.: Hoover Institution Press, 2000.
Buscaglia, Edgardo and William Ratliff

Examines the link between legal systems and reform of economic institutions and practices in developing countries. States that poverty largely results from flaws in legal institutions. Recommends substantive and procedural legal factors for developing countries, including recommendations on judicial review and dispute resolution.

Institutions, Institutional Change and Economic Performance
Cambridge, U.K.: Cambridge University Press, 1990, Chapters 12 and 13.
North, Douglass C

Explains the importance of institutions to the stability and performance of the economy.

Economic Analysis of Law
Fifth Edition, New York: Aspen Law & Business, 1998, Chapters 1, 2, 9, 10, 12, 13, 19, and 20.
Posner, Richard A.

Explains economic principles that underlie laws in the common law context, specifically the U.S. Chapters cited cover basic economic approaches, monopoly, competition law, utility regulation, the choice between regulation and common law, the adversary system, and the process of rulemaking.

Key Words

Institutions, Law, Regulation, Corruption, Opportunism, Legal Process