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Enforcing Contracts In Transition Economies
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Author :Mads Tønnesson Andenæs Publisher :British Inst of International & Comparative ISBN 13 :9780903067591 Total Pages :204 pages Book Rating :4.0/5 (675 download)
Book Synopsis Enforcing Contracts in Transition Economies by : Mads Tønnesson Andenæs
Download or read book Enforcing Contracts in Transition Economies written by Mads Tønnesson Andenæs and published by British Inst of International & Comparative. This book was released on 2005 with total page 204 pages. Available in PDF, EPUB and Kindle. Book excerpt: This important and incisive new book examines contractual enforcement mechanisms in Central and South-Eastern Europe and the Commonwealth of Independent States. The volume is an outcome of the cooperation between the European Bank for Reconstruction and Development and the British Institute of International and Comparative Law. The book highlights that after more than 13 years of transition, contract enforcement has not reached a stage where it provides the required basis for economic development. It requires sustained attention from national governments, regional bodies, and the international community. The book concludes by examining the appropriate way forward. The enforcement of contractual rights and obligations is a condition for economic development, and this book should appeal to a wide readership ranging from academics and practitioners to policy makers and the judiciary in both developed and developing economies.
Book Synopsis Contract Enforcement in Transition by : Simon Johnson
Download or read book Contract Enforcement in Transition written by Simon Johnson and published by . This book was released on 1999 with total page 68 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Contract Enforcement in the Early Transition of an Unstable Economy by : Kenneth Koford
Download or read book Contract Enforcement in the Early Transition of an Unstable Economy written by Kenneth Koford and published by . This book was released on 2008 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: How were contracts among firms enforced in the early phase of a transition economy when firms lacked experience with commercial contracts or legal procedures? What were their views of their new business environment? We interviewed a sample of Bulgarian firms, including private, state-owned and cooperative firms in 1994. Consistent with Williamson's (1994) theories, complex contracts were quite limited, sometimes implying the breakdown of important markets, but we also found that even spot-market contracts had severe problems of bilateral dependency. Having been burned in previous transactions, firms were very cautious in dealing with new potential trading partners and tried to work closely with trustworthy counterparts. These results are consistent with Klein, Crawford and Alchian's (1978) theory.
Book Synopsis Essays on Contract Enforcement in Transition Economies by : Hamish Rafe Gow
Download or read book Essays on Contract Enforcement in Transition Economies written by Hamish Rafe Gow and published by . This book was released on 2000 with total page 290 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Agency and Self-Enforcing Contracts by : Zhigang Tao
Download or read book Agency and Self-Enforcing Contracts written by Zhigang Tao and published by . This book was released on 2001 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper studies the role of agency in the self-enforcement of interfirm contracts. When interfirm transactions are carried out by the agents rather than the owners, the agents' incentive to breach a contract for the benefit of their firm is typically lower than that of the owners if doing so entails a personal cost or a loss of private benefits. Thus agency has a commitment value in making contracts self-enforcing. The cost of agency is the typical moral hazard problem. Implications are drawn for transition economies in which formal institutions for contract enforcement are weak.
Book Synopsis How Private Contract Enforcement Mechanisms Can Succeed Where Public Institutions Fail by : Hamish R. Gow
Download or read book How Private Contract Enforcement Mechanisms Can Succeed Where Public Institutions Fail written by Hamish R. Gow and published by . This book was released on 2003 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: The enforcement of contracts is necessary for efficient exchange and investment in economic activities. Contracts can be enforced through a variety of mechanisms, both public and private. However, in many developing and transitional countries these public institutions are either absent or ineffective in ensuring contract enforcement. Under such conditions, private enforcement mechanisms may provide a suitable replacement for public enforcement institutions. This may be done externally through a third party or internally through self-enforcing agreements. This paper analyzes the use of "self-enforcing" arrangements or "internal" private enforcement mechanisms. Using a case study of an agri-business in a transition economy - Juhocukor a.s., a Slovakian sugar processor - we show that the use of "internal" private contract enforcement mechanisms can have a significant positive effect on output and efficiency for both partners to the exchange transaction in an environment characterized by the absence or ineffectiveness of public enforcement institutions.
Book Synopsis Judicial Systems in Transition Economies by : James Horton Anderson
Download or read book Judicial Systems in Transition Economies written by James Horton Anderson and published by World Bank Publications. This book was released on 2005 with total page 144 pages. Available in PDF, EPUB and Kindle. Book excerpt: 'Judicial Systems in Transition Economies' looks at the experience of countries in Central and Eastern Europe and the Baltics (CEE) and the Commonwealth of Independent States (CIS) as they reform their legal and judicial institutions to fit the needs of a market economy. The study shows, rather disturbingly, that less progress has been made in judicial reform than in most other areas of institutional reform in these countries. The transition from socialism to capitalism requires a fundamental reorientation of legal and judicial institutions. This study reviews the environment preceding reforms, forces that provoked and supported them, and the reform agendas undertaken in these countries since 1990. Against this background, it exposes the impact of reforms, implementation gaps, and the underlying determinants of success and failure. The report examines how courts have performed, and reveals their impact on public opinion and the business environment. It provides insight into linkages among reforms as well as linkages between reforms and public demand for a fair judiciary. The authors show that while each country presents different challenges and opportunities, certain lessons apply in most settings. Their insights and data would be useful to policy makers, judicial personnel, and those involved in reforming judiciaries. The study draws on numerous data sources. These include the World Bank, the European Bank for Reconstruction and Development (EBRD, the American Bar Association-Central European and Eurasian Law Initiative (ABA-CEELI), the World Values Survey, the World Economic Forum, and the University of Strathclyde.
Download or read book Unreliability written by Róbert Iván Gál and published by Purdue University Press. This book was released on 1997 with total page 158 pages. Available in PDF, EPUB and Kindle. Book excerpt: Notorious unreliability of the actors is a typical feature of a command economy. Does it change in the process of transition to a market economy? Yes, it does, tremendously. Though the symptoms of unreliability are rather well known, they have been the subject of hardly any systematic analysis. Moreover, the usual bilateral approach of contract analysis, though dealing with opportunistic actors, does not admit the possibility that unreliability can be typical. Not that the actors would be morally constrained, but their partners would not tolerate being cheated on a regular basis. In this book an extended model of contracting is presented that accounts for the more tolerant character of the actors in a command economy and the growing intolerance in an economy under transition with regard to being the victim in contracting.
Book Synopsis Globalization and Policy Challenges for Economies in Transition by : Rob Vos
Download or read book Globalization and Policy Challenges for Economies in Transition written by Rob Vos and published by A&C Black. This book was released on 2011-01-01 with total page 263 pages. Available in PDF, EPUB and Kindle. Book excerpt: The countries in Central and Eastern Europe and the Commonwealth of Independent States have opened up their economies to the world economy as a step towards a profound transformation from plan to market. Some have fully integrated into the European market while others have not. This book focuses on the challenges economies face when in transition.
Book Synopsis Contracts in Trade and Transition by : Dalia Marin
Download or read book Contracts in Trade and Transition written by Dalia Marin and published by MIT Press. This book was released on 2003-01-01 with total page 234 pages. Available in PDF, EPUB and Kindle. Book excerpt: An institutional approach to explaining countertrade and barter in international trade and domestic trade in transition economies. Difficulties in contract enforcement impede international transactions in the world economy and domestic transactions in transition economies. In Contracts in Trade and Transition, Dalia Marin and Monika Schnitzer explain how barter as an economic institution can facilitate contract enforcement across national borders in international trade and within borders in transition countries. The authors show that international countertrade—tying an export to an import—emerged in the 1980s in response to the international debt crisis when Western creditors refused to finance imports to developing countries and Eastern Europe. Barter—the exchange of goods without the use of money—reemerged in transition economies in the 1990s in response to a domestic debt crisis when banks in transition countries were reluctant to provide finance to firms. Countertrade and barter introduce a deal-specific form of collateral that addresses the lack of creditworthiness of countries and firms. Drawing on contract theory, the authors argue that parties might want to pay in goods rather than cash or link an export with an import as in countertrade to solve incentive problems that otherwise would prevent any trade from taking place. The incentive problems they discuss are the technology transfer problem to developing countries and the "lack of trust" problem in the former Soviet Union.
Download or read book Doing Business 2020 written by World Bank and published by World Bank Publications. This book was released on 2019-11-21 with total page 241 pages. Available in PDF, EPUB and Kindle. Book excerpt: Seventeen in a series of annual reports comparing business regulation in 190 economies, Doing Business 2020 measures aspects of regulation affecting 10 areas of everyday business activity.
Book Synopsis Lawlessness and Economics by : Avinash K. Dixit
Download or read book Lawlessness and Economics written by Avinash K. Dixit and published by Princeton University Press. This book was released on 2011-10-23 with total page 182 pages. Available in PDF, EPUB and Kindle. Book excerpt: How can property rights be protected and contracts be enforced in countries where the rule of law is ineffective or absent? How can firms from advanced market economies do business in such circumstances? In Lawlessness and Economics, Avinash Dixit examines the theory of private institutions that transcend or supplement weak economic governance from the state. In much of the world and through much of history, private mechanisms--such as long-term relationships, arbitration, social networks to disseminate information and norms to impose sanctions, and for-profit enforcement services--have grown up in place of formal, state-governed institutions. Even in countries with strong legal systems, many of these mechanisms continue under the shadow of the law. Numerous case studies and empirical investigations have demonstrated the variety, importance, and merits, and drawbacks of such institutions. This book builds on these studies and constructs a toolkit of theoretical models to analyze them. The models shed new conceptual light on the different modes of governance, and deepen our understanding of the interaction of the alternative institutions with each other and with the government's law. For example, one model explains the limit on the size of social networks and illuminates problems in the transition to more formal legal systems as economies grow beyond this limit. Other models explain why for-profit enforcement is inefficient. The models also help us understand why state law dovetails with some non-state institutions and collides with others. This can help less-developed countries and transition economies devise better processes for the introduction or reform of their formal legal systems.
Book Synopsis Public Policy in Transition Economies by : Maciej J. Grodzicki
Download or read book Public Policy in Transition Economies written by Maciej J. Grodzicki and published by Taylor & Francis. This book was released on 2024-06-21 with total page 297 pages. Available in PDF, EPUB and Kindle. Book excerpt: Public policies are usually carefully designed to address a particular problem, but they are also shaped and influenced by the sociocultural heritage of a particular country. This volume explores the origins of economic and other public policies in Central and Eastern Europe. This region makes for a particularly interesting case because after going through a major system change – transitioning from a command economy into a market economy – many of the key policies were written anew. The contributors to this book look at key policy areas at the intersection of state and private sectors, including industrial, pension, energy, and competition policies. The chapters examine key questions such as: how did these policies evolve from the time of transition to their final form? What were the main drivers of policy conduct and factors influencing major policy choices? How does the historical context impact contemporary policy space? Throughout the volume, an institutional approach is adopted, according to which policies are perceived as the outcome of top‐down design, filtered through social institutions inherited from the past. With this approach, this book presents a long‐running assessment, over 30 years, of policymaking in transition economies, which were subject to profound changes throughout the period. This book will be of interest to readers in institutional economics, policy studies, transition economies, and the recent history of Eastern Europe.
Book Synopsis The Contribution of the New Institutional Economics to an Understanding of the Transition Problem by : Douglass Cecil North
Download or read book The Contribution of the New Institutional Economics to an Understanding of the Transition Problem written by Douglass Cecil North and published by Unu/Wider. This book was released on 1997 with total page 36 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Doing Business in 2004 by : Simeon Djankov
Download or read book Doing Business in 2004 written by Simeon Djankov and published by World Bank Publications. This book was released on 2004 with total page 222 pages. Available in PDF, EPUB and Kindle. Book excerpt: A co-publication of the World Bank, International Finance Corporation and Oxford University Press
Book Synopsis Institutions, Transition Economies, And Economic Development by : Tim Yeager
Download or read book Institutions, Transition Economies, And Economic Development written by Tim Yeager and published by Routledge. This book was released on 2018-02-07 with total page 184 pages. Available in PDF, EPUB and Kindle. Book excerpt: Why are some nations wealthy while others are desperately poor? Despite the rapid advancement of technology and the free flow of information provided by computers, many poor nations are falling further behind the wealthy nations of the world. Why is it that these poorer nations cannot catch up? Until recently, economic theory provided limited help in answering these questions. But the New Institutional Economics, a rapidly growing body of economic theory, may provide the answers. Timothy Yeager's Institutions, Transition Economies, and Economic Development clearly explains the New Institutional Economics, and applies its tenets to the transition economies of Poland and Russia. Readers will gain a perspective on transition and developing economies that has never been explored before in a single book.
Book Synopsis Privatization in Transition Economies by : Ira W. Lieberman
Download or read book Privatization in Transition Economies written by Ira W. Lieberman and published by Elsevier. This book was released on 2008 with total page 383 pages. Available in PDF, EPUB and Kindle. Book excerpt: Annotation.
