In the literature of development economics, corruption is usually conceived as detrimental to economic growth. This conventional wisdom, however, may be called into question. Many countries witnessed growth despite corruption, e.g., commodity-dependent and high-growth East Asian countries. The...

The present paper proposes to interpret the differences in legal systems between common-law and civil- law nations as arising from the importance given to adjudication in comparison with statute laws. It focuses on the relative costs of legal change by adjudication (case law development) when...

In this paper, we explore the mechanisms employed by the French judges while discharging personal debts in exchange for liquidation of debtors' assets. Our empirical results highlight the determinants of judicial selection between debtors whose debts are wiped out and those who have to reimburse...