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Legal Institutions and Economic Growth: A Meta-Analytic Perspective

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  • IWASAKI, Ichiro

Abstract

This study undertakes a meta-analysis of the relationship between legal institutions and economic growth based on 1,074 estimates extracted from 121 studies. The results show that the existing literature consistently reports a positive association between legal institutions and economic growth. At the same time, although simple comparisons suggest differences in effect sizes across legal domains, these differences are not robust once study characteristics are jointly controlled for in the meta-regression analysis. These findings suggest that apparent differences across legal domains may largely reflect variations in empirical conditions and the conceptual overlap of commonly used legal indicators, rather than intrinsic differences in their relationships with economic growth.

Suggested Citation

  • IWASAKI, Ichiro, 2026. "Legal Institutions and Economic Growth: A Meta-Analytic Perspective," Discussion Paper Series 782, Institute of Economic Research, Hitotsubashi University.
    • Handle: RePEc:hit:hituec:782
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    File URL: https://hit-u.repo.nii.ac.jp/record/2062564/files/DP782.pdf
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    Keywords

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    JEL classification:

    • E02 - Macroeconomics and Monetary Economics - - General - - - Institutions and the Macroeconomy
    • K10 - Law and Economics - - Basic Areas of Law - - - General (Constitutional Law)
    • K11 - Law and Economics - - Basic Areas of Law - - - Property Law
    • O43 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - Institutions and Growth
    • P51 - Political Economy and Comparative Economic Systems - - Comparative Economic Systems - - - Comparative Analysis of Economic Systems

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