Investment Rules and the Rule of Law

Schneiderman, David

doi:10.1111/1467-8675.00256

Cited by 15 publications

(7 citation statements)

References 9 publications

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“…The government might have to give advance notice of proposed changes, conduct public hearings, make formal findings, pass legislation, or even, in some cases, amend the constitution. This court‐enforced “constitutionalization” of rights (see, e.g., Schneiderman, 2001:521; Gill, 2002:48; Hirschl, 2004:146–47) makes change more difficult and costly, and tends to slow things down, which supports investor confidence in policy stability (Henisz, 2000; Jensen, 2003, 2006, 2008; Li, 2006, 2009).…”

Section: Judicial Strength/rule Of Law and Pi In Developing Countriesmentioning

confidence: 99%

The Effects of Judicial Strength and Rule of Law on Portfolio Investment in the Developing World^*

Staats¹,

Biglaiser²

2011

Social Science Quarterly

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Objective. Applying existing theories relating to investment risk, this article examines the effects of judicial strength and adherence to the rule of law on portfolio investment in the developing world. We aim to demonstrate that countries with higher levels of judicial strength and rule of law are more able to attract portfolio investment because they provide greater protection of property rights and a better risk environment for investors. Methods. Using time-series data for 79 developing countries for the period 1996-2005, we employ panel-corrected standard errors multivariate regressions to demonstrate that higher levels of judicial strength and rule of law are associated with higher levels of portfolio investment. Results. We find that a one standard deviation increase in overall judicial strength and rule of law results in more than a 50 percent increase in portfolio investment. In separate analyses, we show that a one standard deviation increase in specific measures of judicial independence, impartial courts, and protection of property rights leads to increases in portfolio investment ranging from 27 percent to 184 percent. Conclusion. Judicial strength and adherence to the rule of law are important determinants of portfolio investment in the developing world.The past two decades have witnessed the parallel revival of both democracy and foreign investment in the developing world, a convergence that has led many political economy scholars to argue that democratic reform is a causal agent for increased foreign investment flows into developing countries

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Section: Judicial Strength/rule Of Law and Pi In Developing Countriesmentioning

confidence: 99%

The Effects of Judicial Strength and Rule of Law on Portfolio Investment in the Developing World^*

Staats¹,

Biglaiser²

2011

Social Science Quarterly

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“…Among those shielded from the reach of justice are more powerful predator states and transnational private powers, including foreign investors and creditors, international currency speculators, and transnational corporations (Harris and Seid 2000; Hoogvelt 2001). Also protected are the governance structures of the global economy, which set exploitative terms of interaction and then exempt them from democratic control (Aman 2003; Boyce 2004; Cox 1996, 1997; Gill 1998; Helleiner 1994; Schneiderman 2001; Storm and Mohan Rao 2004). Finally, the Westphalian frame is self‐insulating, as the architecture of the interstate system excludes transnational democratic decision‐making on issues of justice (Bohman 1999; Dryzek 1999; Held 1995, 1999, 2000, 2003, 2004).…”

Section: On Reflexivity As Meta‐political Critique: a Plea For The Comentioning

confidence: 99%

Who Counts? Dilemmas of Justice in a Postwestphalian World

Fraser

2010

Antipode

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Who counts as a subject of justice? Not so long ago, it was widely assumed that those "who counted" were simply the citizens of a bounded territorial state. Today, however, as activists target injustices that cut across borders, that "Westphalian" view is contested and the "who" of justice is an object of hot dispute. This new situation calls for a new kind of justice theorizing, whose contours I sketch in this essay. Arguing, first, for a reflexive mode of theorizing, I introduce the concept of "misframing", which can subject the Westphalian "who" to critical scrutiny. Arguing, second, for the necessity of a substantive normative principle to evaluate competing "who's", I introduce the "all-subjected principle" as superior to three better known alternatives: namely, membership, humanism, and the all-affected principle.

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“…It might have to give advance notice of proposed changes, conduct public hearings, make formal findings, get legislation passed, or even in some cases amend the constitution. This court‐enforced “constitutionalization” of rights (see, for example, Schneiderman 2001:521; Hirschl 2004:146–147) makes change more difficult and costly, and tends to slow things down, which supports investor confidence in the stability of policies (Henisz 2000; Jensen 2003, 2006, 2008; Li 2006, 2009).…”

mentioning

confidence: 97%

Foreign Direct Investment in Latin America: The Importance of Judicial Strength and Rule of Law1

Staats¹,

Biglaiser²

2011

International Studies Quarterly

127

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An extensive literature has emerged recently that investigates the determinants of foreign direct investment (FDI) in developing regions of the world, including Latin America. Much of this work has focused on whether authoritarian or democratic rule is better for attracting FDI. Curiously, little attention has been devoted to unpacking regime type to see whether specific political institutional variables related to judicial strength and adherence to the rule of law are important FDI determinants. Based on panel data analysis and our own survey of US corporations, we find that judicial strength and rule of law elements are important determinants of FDI in Latin America.For years, scholars have remarked on the importance of quality courts and rule of law for attracting foreign direct investment (FDI)

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Investment Rules and the Rule of Law

Cited by 15 publications

References 9 publications

The Effects of Judicial Strength and Rule of Law on Portfolio Investment in the Developing World^*

The Effects of Judicial Strength and Rule of Law on Portfolio Investment in the Developing World^*

Who Counts? Dilemmas of Justice in a Postwestphalian World

Foreign Direct Investment in Latin America: The Importance of Judicial Strength and Rule of Law1

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Investment Rules and the Rule of Law

Cited by 15 publications

References 9 publications

The Effects of Judicial Strength and Rule of Law on Portfolio Investment in the Developing World*

The Effects of Judicial Strength and Rule of Law on Portfolio Investment in the Developing World*

Who Counts? Dilemmas of Justice in a Postwestphalian World

Foreign Direct Investment in Latin America: The Importance of Judicial Strength and Rule of Law1

Contact Info

Product

Resources

About

The Effects of Judicial Strength and Rule of Law on Portfolio Investment in the Developing World^*

The Effects of Judicial Strength and Rule of Law on Portfolio Investment in the Developing World^*