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

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Author Info
Lars Feld ()
Stefan Voigt

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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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Publisher Info
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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Related research
Keywords: economic growth; rule of law; judicial independence;

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Find related papers by JEL classification:
H11 - Public Economics - - Structure and Scope of Government - - - Structure and Scope of Government
K40 - Law and Economics - - Legal Procedure, the Legal System, and Illegal Behavior - - - General
O40 - Economic Development, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - General
P51 - Economic Systems - - Comparative Economic Systems - - - Comparative Analysis of Economic Systems

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  2. 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, vol. 3(2), pages 243-77, Fall.
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  8. Guy Debelle & Stanley Fischer, 1994. "How independent should a central bank be?," Conference Series ; [Proceedings], Federal Reserve Bank of Boston, pages 195-225. [Downloadable!]
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  9. 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, vol. 6(2), pages 263-300, Fall.
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  11. Hayo, Bernd & Hefeker, Carsten, 2002. "Reconsidering central bank independence," European Journal of Political Economy, Elsevier, vol. 18(4), pages 653-674, November. [Downloadable!] (restricted)
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  13. de Haan, Jakob & Sturm, Jan-Egbert, 2000. "On the relationship between economic freedom and economic growth," European Journal of Political Economy, Elsevier, vol. 16(2), pages 215-241, June. [Downloadable!] (restricted)
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