Rights as Signals
AbstractBecause rights operate as trumps over normal governmental interests, they have an inherent cost. Consequently, by entrenching protection for human rights, governments can signal a willingness to give up power in the short term to obtain long-term benefits. Investors can infer from this that the government has a low discount rate and is less likely to pose a threat of expropriation. Similarly, when courts vigorously enforce human rights, they dramatize their judicial independence, which is valuable to investors, who themselves may have no interest in human rights. Thus, human rights enforcement may help encourage investment and thereby indirectly foster economic growth. Copyright 2002 by the University of Chicago.
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Bibliographic InfoArticle provided by University of Chicago Press in its journal Journal of Legal Studies.
Volume (Year): 31 (2002)
Issue (Month): 1 (January)
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- Stefan Voigt, 2009.
"Positive Constitutional Economics II—A Survey of Recent Developments,"
MAGKS Papers on Economics
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- Stefan Voigt, 2011. "Positive constitutional economics II—a survey of recent developments," Public Choice, Springer, vol. 146(1), pages 205-256, January.
- Katarzyna Metelska-Szaniawska, 2009. "Constitutions and economic reforms in transition: an empirical study," Constitutional Political Economy, Springer, vol. 20(1), pages 1-41, March.
- Vinod, Hrishikesh D., 2006. "Should Asians demand both entrepreneurship and human rights?," Journal of Asian Economics, Elsevier, vol. 17(1), pages 14-28, February.
- Goderis, B.V.G. & Versteeg, M., 2013. "The Transnational Origins of Constituions: Evidence From a New Global Data Set On Constitional Rights," Discussion Paper 2013-010, Tilburg University, Center for Economic Research.
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