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Economic Growth and Judicial Independence: Cross Country Evidence Using a New Set of Indicators

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  • Lars P. Feld
  • Stefan Voigt

Abstract

Rational politicians are interested in judicial independence (JI) in order to make their promises credible. But if politicians’ preferences deviate from the dicta of the judiciary, they also have incentives to renege on judicial independence. These two conflicting aspects are measured by two indicators: (i) de iure JI focusing on its legal foundations and (ii) a de facto JI focusing on countries’ actually experience. Whether JI affects economic growth is tested for a cross section of 57 countries. While de iure JI does not have an impact on real GDP growth per capita growth, de facto JI positively influences it.

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Paper provided by CESifo Group Munich in its series CESifo Working Paper Series with number 906.

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Date of creation: 2003
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Handle: RePEc:ces:ceswps:_906

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Keywords: economic growth; rule of law; judicial independence;

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  11. Cukierman, Alex & Webb, Steven B & Neyapti, Bilin, 1992. "Measuring the Independence of Central Banks and Its Effect on Policy Outcomes," World Bank Economic Review, World Bank Group, World Bank Group, vol. 6(3), pages 353-98, September.
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  13. Gely, Rafael & Spiller, Pablo T, 1990. "A Rational Choice Theory of Supreme Court Statutory Decisions with Applications to the State Farm and Grove City Cases," Journal of Law, Economics and Organization, Oxford University Press, Oxford University Press, vol. 6(2), pages 263-300, Fall.
  14. McCubbins, Mathew D & Noll, Roger G & Weingast, Barry R, 1987. "Administrative Procedures as Instruments of Political Control," Journal of Law, Economics and Organization, Oxford University Press, Oxford University Press, vol. 3(2), pages 243-77, Fall.
  15. Ferejohn, John A. & Weingast, Barry R., 1992. "A positive theory of statutory interpretation," International Review of Law and Economics, Elsevier, Elsevier, vol. 12(2), pages 263-279, June.
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