The weight of the housing tenancy market in Spain is very low. It is frequently argued that an ineffective judicial system, implying a cumbersome procedure to evict a non-paying tenant or simply requiring a long period to execute a decision, may be an important determinant of the tenancy...

In a Case Law regime Courts have more flexibility than in a Statute Law regime. Since Statutes are inevitably incomplete, this confers an advantage to the Statute Law regime over the Case Law one. However, all Courts rule ex-post, after most economic decisions are already taken. Therefore, the...

There is extensive literature on whether courts or legislators produce efficient rules, but which of them produces rules efficiently? The law is subject to uncertainty ex ante; uncertainty makes the outcomes of trials difficult to predict and deters parties from settling disputes out of court. In...

Economists have documented pervasive correlations between legal origins, modern regulation, and economic outcomes around the world. Where legal origin is exogenous, however, it is almost perfectly correlated with another set of potentially relevant background variables: the colonial policies of...

South Korea, an established industrial economy, has quietly broadened and deepened its democracy, and is presently building new, innovative governance processes into its institutions. This article examines South Korea's implementation of new governance processes, specifically, its growing use of...

Anarchy and the Law assembles for the first time in one volume the most important classic and contemporary studies exploring and debating non-state legal and political systems, especially involving the tradition of natural law and private contracts. Should markets and contracts provide law, and...

In situations of military, political or economic transition, the reassessment of the role of law in the transition process becomes a crucial site of a people's or a nation's negotiating the past, present and future. Allusions to a tabula rasa or an annee zero after traumatic collapses of...

Private legal systems ("PLSs") are to the universe of law as dark matter is to the physical universe: while PLSs are invisible to the casual study of law, they are observable by their impact on individuals' behavior and by their interaction with the public legal system. PLSs expand to fill voids...

The substantive norms of Chinese corporate governance have been studied extensively inside and outside China. Yet much less attention has been paid to the Chinese institutional environment that determines whether and how far those norms will be made meaningful. While complaints about general...