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Legal Origins and Socio-economic Consequences: Can Legal Origins Really Explain the Main Differences in Economic and Juridical Performances?

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Recently some analysts have focused the attention on the country's legal origins in order to explain the country's economic performances. Better performances in the economic and justice system have often been correlated to the flexibility and smooth framework of the common law. It has been also emphasised that the common law, more oriented toward private economic activity and civil law with greater orientation toward government intervention, have influenced countries' respective markets and socio-regulation. Without judging the appropriateness of entire juridical systems, our approach will take into consideration the criteria of the analysis in order to make some reflections on what could be a balanced approach to make comparisons and to conduct analysis with a significant output. Nevertheless, the debate generated by studies based on legal origins analysis such as Doing Business, ZERP, and LLSV is an important stimulus because it is related to the capacity of social science to recalibrate its instruments in order to give more complete explanation of complex phenomena that are difficult to gauge in unilateral models.

Affiliations: 1: Senior Economist, Rome, Italy


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