Legal Orderings and Economic Institutions

This book addresses the lively interaction between the disciplines of law and economics. The traditional boundaries of these two disciplines have somehow inhibited a full understanding of the functioning of and the evolution of economic and legal systems. It has often been the case that these boundaries have had to be reshaped, and sometimes abolished, before either one of the two disciplines could successfully clarify the real life problems arising from the complex institutions of contemporary societies. The contributions to this volume encompass some of the core controversial issues in law and economics arising from interactions between legal orderings and economic institutions. They include:the nature of institutional and legislative change and the emergence of strong institutional complementarity in legal positionsthe relationship between private orderings and the role of the State in enforcing contracts and defining property rightsthe nature and dynamics of endogenous enforcement and the analysis of governance models and corporate ethics.Part of the renowned Siena Studies in Political Economy series, this book will be an essential read for postgraduates and researchers in the fields of law and economics, and the economics of institutions.