Kawai, Masahiro; Schmiegelow, Henrik - Asian Development Bank Institute, Asian Development Bank - 2013
This paper discusses how financial crises in emerging Asia and Japan worked as catalysts for legal reforms. Findings … show that six Asian countries pursued significant legal and judicial reforms following financial crises in 1997–1998, but … indicators that measure the quality of legal institutions exhibit mixed results. Reforms of economic laws alone cannot improve …