This paper examines the reiationship between the legal system and banldng development and traces this connection through to long-ran rates of per capita GDP growth, capital stock growth, and productivity growth. Tlie data indicate that countries where the legal system (1) emphasizes creditor rights and (2) rigorously enforces contracts have better-developed banks than countries where laws do no...

The STD experiments in Guatemala from 1946-1948 have earned a place of infamy in the history of medical ethics. But if the Guatemala STD experiments were so "ethically impossible," how did the U.S. government approve their funding? Although much of the literature has targeted the failings of Dr. John Cutler, we focus on the institutional context and research ethos that shaped the outcome of the...

The formation of online contracts has enjoyed considerable judicial and academic attention in American law. Generally, courts are the view that rise not necessitated any changes to fundamental principles law contract, although commentators argue enforcement stretched requirement mutual assent beyond recognition. This article engages a comparative evaluation these arguments, as well some proposa...

Regulatory governance—how regulators manage concession contracts, or other public-private contractual arrangements and sector laws—can affect the private sector’s perception of regulatory risk and thus the availability of private capital for infrastructure projects. Four key elements of the regulatory governance structure can reduce the risk of regulatory failure: political and financial autono...

Within an incomplete contracts theoretic framework, we examine the consequences of contract renegotiation for contract design/enforcement and training market efficiency. Specifically, we show how the imposition of either firing costs or exit costs can bind together employers and employees in longer-lasting employment relationships that allow both agents to amortise their training investment. Ne...

the current study examines the impact of trade openness and business environment on foreign direct investment among 23 countries in southwest asia over the period 2004 to 2012. the research approach is econometric and the generalized regression of panel data was used to test the effect of the variables of interest. the results show that trade openness directly (coefficient of 0.002, p-value = 0...

47 As recently as several years ago, technology gurus predicted that the next big trend in software system development would be service-oriented architecture: that is, a successful integration of loosely coupled services belonging to different organisations, sometimes competing but on specific tasks collaborating , would storm the world. This would create a myriad of new business opportunities,...

At common law, courts will not enforce liquidated damages clauses unless the stipulated sum bears a reasonable relation to either the anticipated or actual losses that result from breach. Penalty clauses, intended to compel performance, are per se unenforceable. Commentators have set forth arguments both for and against this common-law rule on the basis of efficiency. One of the main principles...

This thesis deals with two methodologies in software construction: Aspect Oriented Programming and Design by Contract. It was already claimed that the design by contract methodology is an aspect of the software system. As such, a contract can be expressed in AOP terminology, and hence could be enforced using an aspect oriented based tool. The work presented here describes the enforcement proces...

This article aims to study lease and hiring contract in the Iranian-Islamic setting and analyze the asymmetric information problem in these contracts. For doing this, we study the characteristics of lease and hiring contracts in Iran (real world experimental characteristics that recognized in other studies), using library method, then we mathematically model different aspects of asymmetric info...