Journal article
A "Law & Personal Finance" View of Legal Origins Theory
Brigham Young University law review, Vol.2009(6), p1635
01 Nov 2009
Abstract
In two seminal papers, Rafael La Porta, Florencio Lopez-de-Silanes, Andrei Shleifer, and Robert Vishny (LLSV) spell out a theory for the interrelationship between law and economic development now commonly referred to as "Legal Origins Theory." What makes Legal Origins Theory so interesting is its claim to be more than simply a set of results. It claims to offer prescriptive value for policy development. There are two aspects to Legal Origins Theory that the author finds the most difficult to accept. Professors Aguilera and Williams' paper highlights one, Professor Fairfax's, the other. The first feature he struggles with is the notion in the Theory that because people have found a causal channel that is significant ex post, they therefore have a predictive tool that allows them to set policy ex ante. The second aspect of Legal Origins Theory he finds hard to accept is its malleability.
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Details
- Title
- A "Law & Personal Finance" View of Legal Origins Theory
- Creators
- Karl Okamoto
- Publication Details
- Brigham Young University law review, Vol.2009(6), p1635
- Publisher
- Brigham Young University, Reuben Clark Law School
- Resource Type
- Journal article
- Language
- English
- Academic Unit
- Thomas R. Kline School of Law
- Identifiers
- 991021866421704721