An effective judiciary is key to prosperous markets and sustained economic development, yet empirical evidence on the functioning of courts in the developing world is very scarce. We examine a court-level panel dataset from the resource-starved, post-conflict Nepal to assess the determinants of...

Insolvency systems play a crucial role in protection of creditor rights, yet micro-level empirical evidence on the functioning of insolvency regimes worldwide is sparse. We investigate whether creditors' recovery of outstanding claims, a measure of ex-post efficiency of an insolvency regime,...

We study the problem of torts in a framework where a firm's accident adversely impacts all firms in the industry because of the presence of industry reputation effects. Industry reputation effects lead to interdependence among firms and give rise to strategic firm behavior. We characterize the...

While the tradeoff between market failure and government failure has been explored both theoretically and in practical policy design, the question of whether this trade-off appears in the calculus of citizens’ demands for government regulation remains underexplored. We first clarify the...

We contribute to the scant empirical literature on court activity by examining how judicial staffing and caseload influence court output in Slovenia, a post-socialist EU member state struggling with implementing an effective judicial system. Unlike the majority of the existing literature, we...

We study the desirability of interventionist harmonization of legal standards across multiple, mutually interdependent jurisdictions which strive to adapt law to their local conditions, as well as to synchronize it with other jurisdictions. In a setting where jurisdictions are privately informed...