The effects of bank competition and institutions on credit markets are usually studied separately although both factors are interdependent. We study the effect of bank competition on the choice of contracts (screening versus collateralized credit contract) and explicitly capture the impact of...

This paper gives a global summary of the number of constitutions and the number of　articles in each constitution for many representative countries around the world. Several　works have already been written comparing different legal systems and different　constitutional...

This is a survey of legal liability for accidents. Three general aspects of accident liability are addressed. The first is the effect of liability on incentives, both whether to engage in activities (for instance, whether to drive) and how much care to exercise (at what speed to travel) to...

A common argument against compulsory licensing of intellectual property maintains that it facilitates the entry of inefficient producers, which may reduce social welfare independently of any effects on R and D incentives. We study the issue in a model where the innovative firm, under the threat...

The general purpose of this paper is to promote a political economy whose objective is to promote the deepening of human rights. In particular my attention will be focused on the political economy of the right to work.The first part of the paper concerns the description of the historical process...

The manuscript evaluates the Czech transformation process with a focus on phenomenon of private ordering and comments briefly on the law approximation process in the Czech Republic. In the author's point of view, the phenomenon of private ordering has hitherto appeared in the Czech Republic in...

We investigate factors influencing the choice of liability status by the owners of start-up firms. We propose a theoretical model that encompasses risk aversion, as well as differentials across liability states in the cost of capital and tax rates, as reasons why entrepreneurs choose one...

This paper surveys and evaluates the current state of legal reform in Russia. Particular attention is payed to the reform of constitutional and public law, institution building, and legal training. The paper identifies many cases of inefficient legal institutions which indicate some fundamental...

Le travail salarié a été le moteur de l’industrialisation européenne et vice versa. A partir des années 1950, la croissance économique s’accélère, l’Europe est à reconstruire, les entreprises ont besoin de main-d’oeuvre. Le ralentissement de la croissance économique à partir...

A model where a portion of the population participates in illegal activities is developed. The propensity to participate in crimes depends on the probability and the opportunity cost of being arrested. The government can influence these variables by law enforcement expenditure and by social...