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The Great Rebirth
The fall of communism transformed the political and economic landscape in more than two dozen countries across Europe and Asia. In this volume published on the 25th anniversary of the fall, political leaders, scholars, and policymakers assess the lessons learned from the "great rebirth" of capitalism and highlight the policies that were most successful in helping countries make the transition to stable and prosperous market economies. Also discussed in this book are examples of countries reverting to political and economic authoritarianism. The authors of these essays conclude that the best outcomes resulted from visionary leadership, a willingness to take bold steps, privatization of state-owned enterprises, and deregulation. Recent backsliding in Russia and Hungary has cast a shadow over the legacy of the transition a quarter century ago, however. This volume grew out of a two-day symposium of experts and practitioners reflecting on the past, present, and future of reform, held in Budapest, Hungary, on May 6–7, 2014.
The Regulation of Entry
Simplifying entry regulation has been a popular reform since the publication of Djankov and others (2002). The inclusion of business entry indicators in the World Bank's Doing Business project has led to an acceleration in reform: in 2003-08, 193 reforms took place in 116 countries. A large academic literature has followed: 201 academic articles have used the data compiled by Djankov and others (2002) and subsequently by the World Bank. The author identifies three theories as to why some countries impose burdensome entry requirements. He also surveys the literature on the effects of making business entry easier.
Resolution of Financial Distress
The understanding of the economic and legal structure of the institutions of bankruptcy has increased considerably over the past decade. This publication describes the state of current knowledge. Containing both theoretical studies and evidence from recent case studies, it shows the possibilities and methods of legal reform and the pitfalls of misguided political action.
The Failure of Judges and the Rise of Regulators
Government regulation is ubiquitous today in rich and middle-income countries--present in areas that range from workplace conditions to food processing to school curricula--although standard economic theories predict that it should be rather uncommon. In this book, Andrei Shleifer argues that the ubiquity of regulation can be explained not so much by the failure of markets as by the failure of courts to solve contract and tort disputes cheaply, predictably, and impartially. When courts are expensive, unpredictable, and biased, the public will seek alternatives to dispute resolution. The form this alternative has taken throughout the world is regulation. The Failure of Judges and the Rise of ...
Inside the Euro Crisis
In mid-2009 Simeon Djankov, who had dealt with a variety of economic and financial crises as chief economist for finance and private sector development at the World Bank, was suddenly thrust into the job of finance minister of his native Bulgaria. For nearly four years in that post, he attended more than 40 meetings of European finance ministers and had a front row seat at the intense discussions and struggles to overcome the economic and financial crisis that threatened to unravel the historic undertaking of an economically integrated Europe. In this personal account, Djankov details his odyssey on the front lines, observing Europe's fitful efforts to contain crises in Greece, Hungary, Irel...
Methods of Comparative Law
Comprising an array of distinguished contributors, this pioneering volume of original contributions explores theoretical and empirical issues in comparative law. The innovative, interpretive approach found here combines explorative scholarship and research with thoughtful, qualitative critiques of the field. The book promotes a deeper appreciation of classical theories and offers new ways to re-orient the study of legal transplants and transnational codes. Methods of Comparative Law brings to bear new thinking on topics including: the mutual relationship between space and law; the plot that structures legal narratives, identities and judicial interpretations; a strategic approach to legal de...
World Development Report 2019
Work is constantly reshaped by technological progress. New ways of production are adopted, markets expand, and societies evolve. But some changes provoke more attention than others, in part due to the vast uncertainty involved in making predictions about the future. The 2019 World Development Report will study how the nature of work is changing as a result of advances in technology today.Technological progress disrupts existing systems. A new social contract is needed to smooth the transition and guard against rising inequality. Significant investments in human capital throughout a person’s lifecycle are vital to this effort. If workers are to stay competitive against machines they need to...
Asian Development Experience Vol. 2
This volume investigates the missing link, the complicated realities of the relations between governance and development through case studies of ASEAN countries. Its main objective is to explore a theoretical framework to overcoming the limitations of mainstream approaches by employing case studies on decentralization, crisis management, corporate governance and foreign aid management of both public and private entities. From the beginning of the 1990s onwards, the international aid community has increasingly stressed that good governance, together with democracy and protection of basic human rights, is indispensable for sustainable economic development. The terms, however, are complex, broad, and arguable. They largely refer to discipline of government institutions and the capacity of the public sector. While a wide variety of empirical studies has been done on the relations between good governance and development, it is still unclear how the differences in governance influence development performance in a real world.
Policy Reform and Chinese Markets
The diverse contributors to this book provide a unique set of essays that evaluate legal, regulatory, and economic aspects of China¿s transition from planned to market economy.
