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Law and Long-Term Economic Change - A Eurasian Perspective (Hardcover)
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Law and Long-Term Economic Change - A Eurasian Perspective (Hardcover)
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Recently, a growing body of work on "law and finance" and "legal
origins" has highlighted the role of formal legal institutions in
shaping financial institutions. However, these writings have
focused largely on Europe, neglecting important non-Western
traditions that prevail in a large part of the world. "Law and
Long-Term Economic Change" brings together a group of leading
scholars from economics, economic history, law, and area studies to
develop a unique, global and, long-term perspective on the linkage
between law and economic change.
Covering the regions of Western Europe, East and South Asia, and
the Middle East, the chapters explore major themes regarding the
nature and evolution of different legal regimes; their relationship
with the state or organized religion; the definition and
interpretation of ownership and property rights; the functioning of
courts, and other mechanisms for dispute resolution and contract
enforcement; and the complex dynamics of legal transplantations
through processes such as colonization. The text makes clear that
the development of legal traditions and institutions--as
embodiments of cultural values and norms--exerts a strong effect on
long-term economic change. And it demonstrates that a good
understanding of legal origins around the world enriches any debate
about Great Divergence in the early modern era, as well as
development and underdevelopment in 19th-20th century Eurasia.
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