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Are de jure constitutional rules significant for constitutional practice? We pose this question with regard to de jure and de facto protection of constitutional rights in post-socialist countries of Europe and Asia. While, after 1989, these countries enacted broad catalogues of rights and freedoms, they are by now often regarded as electoral, not liberal democracies, i.e. they generally allow for political competition and fair elections but witness considerable violations in civil and minority rights. We use various econometric techniques to determine whether, and under what conditions, de jure rights originating from texts of post-socialist constitutions matter for de facto protection of rights in these countries. Our results reveal no such significant unconditional effect, with the exception of freedom of assembly/association. We do, however, find a positive significant effect conditional on judicial independence, democratization level, and robustness of civil society. The conclusions allow to propose guidelines for post-socialist legislators and bring a contribution to the broader debate on the role of de jure constitutional rules for their de facto equivalents, which has so far been essentially inconclusive.

The main goal of the article is to investigate the underpinnings and research apparatus of law & economics, as well as to expose its relevance to economists and lawyers in the context of the recent global financial crisis and preventing future crashes. Research Design & Methods: The research objective is met with the usage of the analysis of the primary material and theoretical inquiry. The article covers theoretical dimensions of the application of law & economics to the analysis of market problems, such as the global financial crisis. Findings: A crucial advantage of law & economics is its mix of research apparatuseconomic and legal theory, as well as econometric and behavioural approaches. A detailed analysis of institutions shall enable more precise assessment of the outcome of market phenomena. The causes of the recent global financial crisis could have been addressed by research in law & economics. Popularisation of law & economics may contribute to preventing crises. Implications & Recommendations: A deep inquiry of market phenomena relies on interdisciplinary research. Applying legal-dogmatic research to formal institutions and combining it with empirical economic analysis could lead to better understanding of market issues, like crises. Contribution & Value Added: The article highlights the importance of law & economics for dealing with market failures. Its core value added is the popularisation of this interdisciplinary approach and description of possible applications.

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