Abstract:The relationship between law and economic development remains enigmatic. Broadly speaking, there is no doubt that legal mechanisms for social control (or ' institutions ' , to use North ' s words) play a major role. Nevertheless, the impact of legal organization on economic development has not been clearly identifi ed. Despite the progress attained by major studies in recent years, they have not defi nitively resolved whether law is a condition precedent to economic development, or rather a supporting element … Show more
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