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Author : Simon Johnson
Publisher :
ISBN 13 :
Total Pages : 68 pages
Book Rating : 4.X/5 (6 download)
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:
Author : Mads Tønnesson Andenæs
Publisher : British Inst of International & Comparative
ISBN 13 : 9780903067591
Total Pages : 204 pages
Book Rating : 4.0/5 (675 download)
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.
Author : Fali Huang
Publisher :
ISBN 13 :
Total Pages : 29 pages
Book Rating : 4.:/5 (129 download)
Download or read book The Transition from Relational to Legal Contract Enforcement written by Fali Huang and published by . This book was released on 2006 with total page 29 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper studies the transition of contract enforcement institutions. The prevalence of relational contracts, low legal quality, strong cultural preference for personalistic relationships, low social mobility, and highly unequal endowment form a cluster of mutually reinforcing institutions that hinder economic development. The cultural element per se does not necessarily reduce social welfare though it may slow down the legal development, while the real problem lies in endowment inequality and low social mobility. Thus a more equal distribution of resources may be the ultimate key to unravel the above interlocking institutions. These results are generally consistent with the empirical evidence.
Author : Hamish Rafe Gow
Publisher :
ISBN 13 :
Total Pages : 290 pages
Book Rating : 4.E/5 ( download)
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:
Author : Kenneth Koford
Publisher :
ISBN 13 :
Total Pages : 0 pages
Book Rating : 4.:/5 (137 download)
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.
Author : Edward Yorio
Publisher : Wolters Kluwer
ISBN 13 : 145480114X
Total Pages : 832 pages
Book Rating : 4.4/5 (548 download)
Download or read book Contract Enforcement written by Edward Yorio and published by Wolters Kluwer. This book was released on 2011-01-01 with total page 832 pages. Available in PDF, EPUB and Kindle. Book excerpt: Rev. ed. of: Contract enforcement / Edward Yorio. c1989.
Download or read book Investment and Contract Enforcement in Transition written by and published by . This book was released on 2003 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Dalia Marin
Publisher : Mit Press
ISBN 13 : 9780262133999
Total Pages : 206 pages
Book Rating : 4.1/5 (339 download)
Download or read book Contracts in Trade and Transition written by Dalia Marin and published by Mit Press. This book was released on 2002-01-01 with total page 206 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.
Author : Azeta Cungu
Publisher :
ISBN 13 :
Total Pages : pages
Book Rating : 4.:/5 (129 download)
Download or read book Investment with Weak Contract Enforcement written by Azeta Cungu and published by . This book was released on 2010 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper aims to provide empirical evidence relating to the importance of contract enforcement for development. Survey data on Hungarian farms are used to estimate the impact of contract hold-ups on investment. We find that investment is affected by a variety of factors. Contract breaches in the form of delayed payments have a non-linear effect on investment: at high levels, they significantly deter the investment, but not at low levels.
Author : Zhigang Tao
Publisher :
ISBN 13 :
Total Pages : 0 pages
Book Rating : 4.:/5 (137 download)
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.
Author : Hamish R. Gow
Publisher :
ISBN 13 :
Total Pages : 0 pages
Book Rating : 4.:/5 (137 download)
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.
Author : Iris Bohnet
Publisher :
ISBN 13 :
Total Pages : 0 pages
Book Rating : 4.:/5 (137 download)
Download or read book More Order with Less Law written by Iris Bohnet and published by . This book was released on 2003 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Most contracts, whether between voters and politicians or between house owners and contractors, are incomplete. "More law", it typically is assumed, increases the likelihood of contract performance by increasing the probability of enforcement and/or the cost of breach. This paper studies a contractual relationship where the first mover has to decide whether she wants to enter a contract without knowing whether the second mover will perform. We analyze how contract enforceability affects individual performance for exogenous preferences. Then we apply a dynamic model of preference adaptation and find that economic incentives have a non-monotonic impact on behavior. Individuals perform a contract when enforcement is strong or weak but not with medium enforcement probabilities. Trustworthiness is "crowded in" with weak and "crowded out" with medium enforcement. In a laboratory experiment we test our model's implications and find support for the crowding prediction. Our finding is in line with the recent work on the role of contract enforcement and trust in formerly Communist countries.
Author : Gillian K. Hadfield
Publisher :
ISBN 13 :
Total Pages : 0 pages
Book Rating : 4.:/5 (137 download)
Download or read book Contract Law is Not Enough written by Gillian K. Hadfield and published by . This book was released on 2013 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: One of the fundamental contributions of transaction cost theory and institutional economics has been to focus attention on opening the "black box" of contract enforcement, drawing attention to the institutions required to achieve effective and low-cost contract enforcement. The idea that the effectiveness of contract law is critical to the growth of economic activity is widespread in the literature on development and transition economies. Recent studies attempting to document the relative strength of contract enforcement in different settings (La Porta, et. al., 1998; Djankov, et. al., 2003), however, have focused on relatively abstract notions of "courts" and "legal systems" and have yet to investigate the detailed institutional features that make contract law effective and low-cost. Even if it is correct to identify "common law legal systems" as productive of greater economic growth, for example, we still do not know what it is about those systems that produces this growth and in particular how these systems achieve more effective and lower cost contract enforcement. This paper explores in a detailed way the multiple legal institutions at work in the organization of courts, the judiciary, the legal profession, enforcement services, and the process of lawmaking and legal innovation, all of which play significant roles in structuring an effective and cost-effective regime of contract enforcement.
Author : Edward Yorio
Publisher : Aspen Publishers
ISBN 13 : 9780316969338
Total Pages : 601 pages
Book Rating : 4.9/5 (693 download)
Download or read book Contract Enforcement written by Edward Yorio and published by Aspen Publishers. This book was released on 1989 with total page 601 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : American Bar Association. National Institute
Publisher :
ISBN 13 :
Total Pages : 926 pages
Book Rating : 4.:/5 (471 download)
Download or read book Public Contract Law in Transition written by American Bar Association. National Institute and published by . This book was released on 1971 with total page 926 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Ben Slay
Publisher :
ISBN 13 :
Total Pages : 95 pages
Book Rating : 4.:/5 (249 download)
Download or read book Contract Enforcement, Bankruptcy, and State Ownership in the Russian Economy written by Ben Slay and published by . This book was released on 2003 with total page 95 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Zhigang Tao
Publisher :
ISBN 13 :
Total Pages : pages
Book Rating : 4.:/5 (129 download)
Download or read book Foreign Direct Investment and Contract Enforcement written by Zhigang Tao and published by . This book was released on 2009 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: A long-standing deterrent to foreign direct investment in developing countries is weak enforcement of binding contracts. A local firm may learn business skills from a cooperating multinational firm and subsequently do business on its own based on the acquired skills. In a two-period double-moral-hazard model, non-binding contracts are shown to be preferred by all parties, implying that contract enforcement is unnecessary. Our results shed light on the puzzling phenomenon that substantial FDI has been carried out under contractual arrangements in developing countries in which contract enforcement is problematic. They can also explain some interesting stylized facts of contractual joint ventures between multinationals and local firms in the early stage of an economic transition.
