Douglass North’s Theory of Institutions: Lessons for Law and Development

Faúndez, Julio

doi:10.1007/s40803-016-0028-8

Cited by 54 publications

(9 citation statements)

References 111 publications

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“…But mainstream economics pursued its completely value-free course for a long while, completely ignoring the role of psychology and even more so of attitudes, values and culture. It took decades until the NCE, starting its dawn with Douglas North's work on institutions [47][48][49][50] and Kahneman's work on psychology in economic choice [51] (for which comprehensive reviews can be found [52]). These seminal works led to a wave of modern contributions on evidence of the impact from culture on economic development that married again the study of values with the mainstream economic discipline, establishing the field of NCE [24,[53][54][55][56][57][58][59][60][61].…”

Section: Modern Moral Philosophy and Value-free Analysis Of Valuesmentioning

confidence: 99%

Value-Free Analysis of Values: A Culture-Based Development Approach

Tubadji

2020

Sustainability

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Recent literature in the fields of Political Economy, New Institutional Economics and New Cultural Economics has converged in the use of empirical methods, offering a series of consistent quantitative analysis of values. However, an overarching positive methodology for the value-free study of values has not yet precipitated. Building on a mixed systematic-integrative literature review of a pluralistic variety of perspectives from Adam Smith’s ‘Impartial’ Spectator to modern moral philosophy, the current study suggests the Culture-Based Development (CBD) approach for analyzing the economic impact of values on socio-economic development. The CBD approach suggests that the value-free analysis needs: (i) to use positive methods to classify a value as local or universal; (ii) to examine the existence of what is termed the Aristotelian Kuznets curve of values (i.e., to test for the presence of an inflection point in the economic impact from the particular value) and (iii) to account for Platonian cultural relativity (i.e., the cultural embeddedness expressed in the geographic nestedness of the empirical data about values). The paper details the theoretical and methodological cornerstones underpinning the proposed CBD approach for value-free analysis of values.

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Section: Modern Moral Philosophy and Value-free Analysis Of Valuesmentioning

confidence: 99%

Value-Free Analysis of Values: A Culture-Based Development Approach

Tubadji

2020

Sustainability

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“…They consist of both informal constraints (sanctions, taboos, customs, traditions, and codes of conduct), and formal rules (constitutions, laws, property rights)” (North 1991 ). Furthermore, institutional differences produce diverse economic consequences (North 1989 ; Posner 1993 , 1998 ; Hodgson 2006 ; Cooter 2014 ; Faundez 2016 ). Recent scholarship has distinguished between extractive and inclusive institutions (Acemoglu et al 2005 ; Acemoglu and Robinson 2012 ).…”

Section: Historical Backgroundmentioning

confidence: 99%

Long-Term Economic Effects of Populist Legal Reforms: Evidence from Argentina

Marzetti

Spruk

2022

Comp Econ Stud

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In this paper, we examine the consequences of populist government for long-term economic growth and development. To this end, we estimate the long-term growth impact of the Juan Péron’s political rule in Argentina, which led to a comprehensive overhaul of the institutional framework laid by the Argentine founding fathers in the 1853 Constitution. Our hypothesis is that the progressive substitution of a growth-enhancing institutional framework by exclusionary growth-distorting frameworks explains Argentina’s economic decline from one the world’s richest countries on the eve of World War I to an underdeveloped nation in the present day. We emphasize the erosion of the rule of law and restraint of economic freedom during Perón’s first government (1943–1955) as two fundamental coadjutant causes of Argentina’s decline. The populist legal reforms of Perón had long-lasting adverse economic effects. By comparing Argentina’s pre-Péron growth trajectory with a donor pool of 58 countries for the period 1860–2015, we estimate the counterfactual scenario without Péron’s reforms. A variety of synthetic control estimates uncover substantial negative effects of the weakening of the rule of law and the populist reforms that began in 1940s on the trajectory of economic growth and development. The populist overhaul negated the economic growth advantages inherent in the 1853 Alberdian constitution. Without the short-sighted populist Peron episodes, Argentina would be a rich country down to the present day with per capita income comparable to southern European countries. We also perform a series of randomization inferences and a battery of placebo analyses, which confirm our results. Supplementary Information The online version contains supplementary material available at 10.1057/s41294-022-00193-4.

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“…The Northian analysis is explored and applied in Ferris (2012). See also, consideration of North's ideas in terms of Law and Development in Faundez (2016 (Møller); and the Early Modern (Sempill. ) And, as the authors are drawn from a variety of institutional backgrounds-coming from departments of Classics and History, Political Science, and Law in universities spread across four countries-the selection was intended not only to represent temporal and geographical differences, but also differences in academic approach.…”

Section: The Papers In This Special Issuementioning

confidence: 99%

Neglecting the History of the Rule of Law: (Unintended) Conceptual Eugenics

Burgess

2017

Hague J Rule Law

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In this short paper I provide a justificatory argument for the importance of the endeavour exemplified by the papers that comprise the remainder of this special issue. I suggest that consideration and assessment of the origins of the concept of the Rule of Law not only matters, but also that it is a practice that is often neglected. Further, I suggest our failure to take account of the origins of the Rule of Law-by continuing to simply innovate around the idea of the contemporary understanding of the concept-limits the concept's future development and will, potentially, not reflect faithfully the ideas from which our contemporary understanding of the concept is ultimately derived. As a result of this failure, we risk the (unintentional) imposition of a selective approach in the interpretation and application of the concept of the Rule of Law in the future. Increasing our focus on the origins of the Rule of Law will not only illuminate the rationale for and behind the operation of the concept, but it will also expose aspects of the concept that are no longer considered or included-in contemporary conceptions of the idea-and will ensure our future solutions are not curtailed. Keywords Rule of Law Á History Á Origin Á Path dependence As asserted in the opening sentence of this paper: origins matter. This paper's origin can be traced to a workshop held at the University of Edinburgh in May, 2016. Since that time, my initial ideas have been modified and improved by a number of individuals. I have been fortunate enough to read the work of the four authors contributing to this special issue in advance of putting pen to paper and their ideas have shaped the arguments I present. In addition, I have been fortunate enough to receive comments, thoughts, suggestions and a great deal of encouragement from my co-editor Neil Walker as well as from Brian Tamanaha, Martin Krygier and Ronald Janse. The precise formulation of my argument has also been greatly improved by several discussions with Lucas Miotto. Despite all of the assistance I have been afforded, any errors or omissions originate with and should be attributed to me alone.

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Douglass North’s Theory of Institutions: Lessons for Law and Development

Cited by 54 publications

References 111 publications

Value-Free Analysis of Values: A Culture-Based Development Approach

Value-Free Analysis of Values: A Culture-Based Development Approach

Long-Term Economic Effects of Populist Legal Reforms: Evidence from Argentina

Neglecting the History of the Rule of Law: (Unintended) Conceptual Eugenics

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