LEGAL INSTITUTIONS, INNOVATION, AND GROWTH

Legal institutions , innovation and growth

We analyze the relationship between legal institutions, innovation and growth. We compare a rigid (law set ex-ante) legal system and a flexible one (law set after observing current technology). The flexible system dominates in terms of welfare, amount of innovation and output growth at intermediate stages of technological development periods when legal change is needed. The rigid system is pref...

Legal status of revolutionary institutions in Iran's administrative legal system

The revolutionary institutions, due to the authority of the public power, form an important part of the administrative organization in Iran. the legal status of the institutions in question was ambiguous, The legislator tried to create a legal personality by adopting the Public Accounts Act of 1366 and the Law on the List of Non-Governmental Organizations and Public Institutions approved in 137...

Legal Institutions and Financial Development

A burgeoning literature finds that financial development exerts a first-order impact on long-run economic growth, which raises critical questions, such as why do some countries have welldeveloped growth-enhancing financial systems, while others do not? The law and finance theory focuses on the role of legal institutions in explaining international differences in financial development. First, th...

Do Legal Institutions Matter for Growth: Evidence from Africa*

Technology, institutions, and innovation systems

There has been very little overlap or even interchange between scholars studying technological advance, and scholars in the field of cognitive science. Yet both fields of study are concerned with human know-how, the former at the level of society, and the latter at the level of the individual. Recent developments in cognitive science have made possible greater contact between the two fields. Th...