@techreport{8aa07b48ce554cf687547a5e1de4bfa8,
title = "Legal Institutions and Economic Development",
abstract = "Legal institutions are critical for the development of market-based economies. This paper defines legal institutions and discusses different indicators to measure their quality and efficiency. It surveys a large historical and empirical literature showing the importance of legal institutions in explaining cross-country variation in economic development. Finally, it presents and discusses three different views of why we can observe the large cross-country variation in legal institutions, the social conflict, the legal origin and the culture and religion hypotheses.",
keywords = "Legal institutions, economic development, legal system indicators, property rights",
author = "T.H.L. Beck",
note = "Subsequently published in The Oxford Handbook of Capitalism (2012) Pagination: 72",
year = "2010",
language = "English",
volume = "2010-94",
series = "CentER Discussion Paper",
publisher = "Macroeconomics",
type = "WorkingPaper",
institution = "Macroeconomics",
}