Anderlini, Luca; Felli, Leonardo; Immordino, Giovanni; … - Université Paris-Dauphine (Paris IX) - 2011
We analyze the relationship between legal institutions, innovation and growth. We compare a rigid (law set ex-ante) legal system and a exible one (law set after observing current technology). The exible system dominates in terms of welfare, amount of innovation and output growth at intermediate...