Capitalism has outperformed all other systems and maintained a positive growth rate since it began. Svetozar Pejovich makes the case within this book that a major reason for the success of capitalism lies in the efficiency-friendly incentives of its basic institutions, which continuously adjust...

"Institutional bypass is a reform strategy that creates alternative institutional regimes to give citizens a choice of service provider and create a form of competition between the dominant institution and the institutional bypass. While novel in the academic literature, the concept captures...

Contents: Preface -- Part I Introduction -- 1. How we got here -- 2. New institutional economics -- Part II Legal systems and development -- 3. Legal origin theory and the transplant effect -- 4. A new institutional economics approach to law and development -- Part III Finance and development --...

This book draws on the analytical framework of New Institutional Economics (NIE) to critically examine the role which law and the legal system play in economic development. Analytical concepts from NIE are used to assess policies which have been supported by multilateral development...

Like many OECD countries, Latvia is taking an innovative, user-centred approach to improving legal and justice services by strengthening the judicial sector and law enforcement authorities This report reviews the commercial, legal and regulatory framework in Latvia, highlighting its impact on...

Institutional bypass is a reform strategy that creates alternative institutional regimes to give citizens a choice of service provider and create a form of competition between the dominant institution and the institutional bypass. While novel in the academic literature, the concept captures...