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Law, Informal Rules and Economic Performance

Author

Listed:
  • Svetozar Pejovich
  • Enrico Colombatto

Abstract

Capitalism has outperformed all other systems and maintained a positive growth rate since it began. Svetozar Pejovich makes the case within this book that a major reason for the success of capitalism lies in the efficiency-friendly incentives of its basic institutions, which continuously adjust the rules of the game to the requirements of economic progress. The analysis throughout is consistent and is supported by evidence. Key components of the proposed theory are the rule of law, the market for institutions, the interaction thesis, the carriers of change, and the process of changing formal and informal institutions.

Individual chapters are listed in the "Chapters" tab

Suggested Citation

  • Svetozar Pejovich & Enrico Colombatto, 2008. "Law, Informal Rules and Economic Performance," Books, Edward Elgar Publishing, number 4198.
    • Handle: RePEc:elg:eebook:4198
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    File URL: https://www.elgaronline.com/view/9781845428730.xml
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    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
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    Cited by:

    1. Leonardo Baggiani & Enrico Colombatto, 2015. "A Theory of Feasible Taxation in Advanced Democracies," Working papers 033, Department of Economics and Statistics (Dipartimento di Scienze Economico-Sociali e Matematico-Statistiche), University of Torino.
    2. Dong, Zhiqiang & Zhang, Yongjing, 2016. "Accumulated social capital, institutional quality, and economic performance: Evidence from China," Economic Systems, Elsevier, vol. 40(2), pages 206-219.
    3. Leonardo Baggiani & Enrico Colombatto, 2017. "Feasible taxation in advanced democracies," International Review of Economics, Springer;Happiness Economics and Interpersonal Relations (HEIRS), vol. 64(3), pages 213-229, September.
    4. François Facchini, 2013. "Economic freedom in Muslim countries: an explanation using the theory of institutional path dependency," Université Paris1 Panthéon-Sorbonne (Post-Print and Working Papers) hal-00636998, HAL.
    5. Soldatos, Gerasimos T., 2015. "Law, Coercion, And Socioeconomic Equilibrium," MPRA Paper 68953, University Library of Munich, Germany.
    6. François Facchini, 2013. "Economic freedom in Muslim countries: an explanation using the theory of institutional path dependency," European Journal of Law and Economics, Springer, vol. 36(1), pages 139-167, August.
    7. Izabela Ostoj, 2019. "On the validity of the division into formal and informal institutions," Ekonomia i Prawo, Uniwersytet Mikolaja Kopernika, vol. 18(1), pages 61-72, March.
    8. Gerasimos T. SOLDATOS, 2015. "Law, Coercion And Socioeconomic Equilibrium," Review of Economic and Business Studies, Alexandru Ioan Cuza University, Faculty of Economics and Business Administration, issue 16, pages 39-50, December.
    9. François Facchini, 2011. "Economic freedom in Muslim countries : an explanation using the theory of institutional path dependency," Post-Print halshs-00587694, HAL.
    10. Janina Godłów-Legiędź, 2017. "Zasada rządów prawa i przemiany ustrojowe w Polsce," Gospodarka Narodowa. The Polish Journal of Economics, Warsaw School of Economics, issue 3, pages 5-27.
    11. Ruzica Simic Banovic, 2015. "(Former) Informal Networks As A Reflection Of Informal Institutions In East European Transitional Societies: Legacy Or Opportunism?," Equilibrium. Quarterly Journal of Economics and Economic Policy, Institute of Economic Research, vol. 10(1), pages 179-205, March.
    12. Jacek Lewkowicz & Katarzyna Metelska-Szaniawska, 2016. "De jure and de facto institutions – disentangling the interrelationships," Working Papers 2016-29, Faculty of Economic Sciences, University of Warsaw.
    13. Arielle John, 2015. "Culture as a constitution," Chapters, in: Laura E. Grube & Virgil Henry Storr (ed.), Culture and Economic Action, chapter 10, pages 225-242, Edward Elgar Publishing.
    14. Kapas Judit & Czegledi Pal, 2010. "Economic Freedom and Government: A Conceptual Framework," Journal des Economistes et des Etudes Humaines, De Gruyter, vol. 16(1), pages 1-26, October.

    Book Chapters

    The following chapters of this book are listed in IDEAS

    More about this item

    Keywords

    Economics and Finance; Law - Academic; Politics and Public Policy;
    All these keywords.

    JEL classification:

    • H0 - Public Economics - - General

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