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Full-Text Articles in International Economics
Microfoundations Of The Rule Of Law, Gillian K. Hadfield, Barry R. Weingast
Microfoundations Of The Rule Of Law, Gillian K. Hadfield, Barry R. Weingast
Gillian K Hadfield
Many social scientists rely on the rule of law in their accounts of political or economic development. Many however simply equate law with a stable government capable of enforcing the rules generated by a political authority. As two decades of largely failed efforts to build the rule of law in poor and transition countries and continuing struggles to build international legal order demonstrate, we still do not understand how legal order is produced, especially in places where it does not already exist. We here canvas literature in the social sciences to identify the themes and gaps in the existing accounts. …
The Dangers Of Diversity: Ethnic Fractionalization And The Rule Of Law, Michael Touchton
The Dangers Of Diversity: Ethnic Fractionalization And The Rule Of Law, Michael Touchton
Michael Touchton
Research linking ethnic cleavages to economic underdevelopment is a hallmark of recent efforts to explain economic growth. Similarly, the rule of law as a credible commitment to property rights and contract enforcement is also identified with economic development. Rather than treating these factors as rival explanations for economic development around the world, I propose the rule of law as the causal mechanism through which ethnic fractionalization (EF) influences growth in many countries. I argue ethnic diversity negatively impacts the rule of law due to the prevalence of ethnically-based patronage networks in developing countries. Public officials, I argue, face greater incentives …