"Examines the underlying mechanisms through which the law, judiciary, and legal profession influence the economy. Analyzes enforcement, contracts, and property rights--the concepts collectively defining rule of law--and examines their roles in the real estate and financial sectors. Extended...

This paper investigates whether the costs of corruption are conditional on the extent of government intervention in the economy. We use data on corruption convictions and economic growth between 1975 and 2007 across the U.S. states to test this hypothesis. Although no state approaches the level...