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Judicial Checks and Balances

Author Info

Listed author(s):
  • La Porta, Rafael
  • Lopez-de-Silanes, Florencio
  • Pop-Eleches, Cristian
  • Shleifer, Andrei

Abstract

In the Anglo†American constitutional tradition, judicial checks and balances are often seen as crucial guarantees of freedom. Hayek distinguishes two ways in which the judiciary provides such checks and balances: judicial independence and constitutional review. We create a new database of constitutional rules in 71 countries that reflect these provisions. We find strong support for the proposition that both judicial independence and constitutional review are associated with greater freedom. Consistent with theory, judicial independence accounts for some of the positive effect of common†law legal origin on measures of economic freedom. The results point to significant benefits of the Anglo†American system of government for freedom.

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File URL: http://dash.harvard.edu/bitstream/handle/1/3451311/Shleifer_JudicialChecks.pdf
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Paper provided by Harvard University Department of Economics in its series Scholarly Articles with number 3451311.

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Date of creation: 2004
Publication status: Published in Journal of Political Economy -Chicago-
Handle: RePEc:hrv:faseco:3451311
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Find related papers by JEL classification:
  • K4 - Law and Economics - - Legal Procedure, the Legal System, and Illegal Behavior
  • O10 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - General

References listed on IDEAS
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  1. Edward L. Glaeser & Andrei Shleifer, 2002. "Legal Origins," The Quarterly Journal of Economics, Oxford University Press, vol. 117(4), pages 1193-1229.
  2. William Easterly & Ross Levine, 1997. "Africa's Growth Tragedy: Policies and Ethnic Divisions," The Quarterly Journal of Economics, Oxford University Press, vol. 112(4), pages 1203-1250.
  3. La Porta, Rafael & Florencio Lopez-de-Silanes & Andrei Shleifer & Robert W. Vishny, 1997. " Legal Determinants of External Finance," Journal of Finance, American Finance Association, vol. 52(3), pages 1131-1150, July.
  4. Djankov, Simeon & Glaeser, Edward & La Porta, Rafael & Lopez-de-Silanes, Florencio & Shleifer, Andrei, 2003. "The new comparative economics," Journal of Comparative Economics, Elsevier, vol. 31(4), pages 595-619, December.
  5. Beck, Thorsten & Demirguc-Kunt, Asli & Levine, Ross, 2003. "Law and finance: why does legal origin matter?," Journal of Comparative Economics, Elsevier, vol. 31(4), pages 653-675, December.
  6. Alberto Alesina & Reza Baqir & William Easterly, 1999. "Public Goods and Ethnic Divisions," The Quarterly Journal of Economics, Oxford University Press, vol. 114(4), pages 1243-1284.
  7. North, Douglass C. & Weingast, Barry R., 1989. "Constitutions and Commitment: The Evolution of Institutions Governing Public Choice in Seventeenth-Century England," The Journal of Economic History, Cambridge University Press, vol. 49(04), pages 803-832, December.
  8. Landes, William M & Posner, Richard A, 1975. "The Independent Judiciary in an Interest-Group Perspective," Journal of Law and Economics, University of Chicago Press, vol. 18(3), pages 875-901, December.
  9. Laffont, Jean-Jacques, 2001. "Incentives and Political Economy," OUP Catalogue, Oxford University Press, number 9780199248681.
  10. repec:hrv:faseco:30728041 is not listed on IDEAS
  11. Tim Besley & Abigail Payne, 2003. "Judicial accountability and economic policy outcomes: evidence from employment discrimination charges," IFS Working Papers W03/11, Institute for Fiscal Studies.
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