Constitutional political economy has emerged as an indispensable part of political economy. This book offers a concise survey of the questions, methods, and empirical findings central to this topic. What effects – if any – do constitutions have within autocracies? Can small electoral districts help reduce corruption? Does a country's leadership affect the size of its government? Can direct democratic institutions increase politicians' accountability to citizens? Stefan Voigt, a pioneer in the field, explores these questions and more throughout the course of this cutting-edge primer. As the number of courses in constitutional economics continues to grow, this book fills an important gap in the literature. This highly original project maintains curiosity about the questions it generates, identifying potential new areas of research whilst successfully demonstrating the impact constitutional rules have on political economy.
Design of Constitutions
Almost anywhere in the world, new constitutions are written and passed at almost any time. Over the last couple of years, an increasing number of economists have analysed constitutions based on an economic approach with an emphasis firstly on the (economic) effects of constitutions and followed by the factors determining their content. The contributions assembled in this volume go one step further: they ask how the knowledge gained over the last number of years can usefully be applied to constitutional design. This new branch could also be termed applied constitutional economics. Along with an original introduction, Professor Voigt has compiled a valuable research collection that will be of interest to scholars and practitioners in this growing field.
"This particular work presents - in one hand and copiously footnoted hardback volume - no less than 23 of the most authoritative and ground-breaking essays and articles currently available on this relatively new avenue of economic and legal research, published by a judicious selection of the world´s top universities... If you´re a lawyer, economic adviser, policy maker, student´or acadenmic, you should acquire this book."
- Phillip Taylor MBE and Elizabeth Taylor,
The Barrister Magazine
Why is it that some countries become rich while other remain poor? Do markets require regulation to function efficiently? If individuals even create firms? How are economic transactions organized in the absence of a state that could enforce contracts and guarantee property rights? Institutional economics has allowed social scientists to answer many fundamental questions about the organization and functioning of societies. This introduction to institutional economics is concise, yet easy to understand. It not only caters to students of economics but to anybody interested in this topical research area and its specific subfields. Both formal and informal institutions (such as customs, habits, and traditions) are discussed with respect to their causes and consequences, highlighting the important part they play for economic growth and development.
Research Handbook on the Economics of European Union Law
Edited by Thomas Eger, Professor of Law and Economics, University of Hamburg, Germany and Hans-Bernd Schäfer, Affiliated Professor, Bucerius Law School, Hamburg and Professor Emeritus, Faculty of Law, University of Hamburg, Germany
This comprehensive volume comprises original essays by authors well known for their work on the European Union. Together they provide the reader with an economic analysis of the most important elements of EU law and the mechanisms for decisions within the EU.
The Handbook focuses particularly on how the development of EU law negotiates the tension between market integration, national sovereignty and political democracy. The book begins with chapters examining constitutional issues, while further chapters address the establishment of a single market. The volume also addresses sovereign debt problems by providing a detailed analysis of the architecture of the EU’s monetary institutions, its monetary policy and their implications.
The depth and breadth of the Handbook’s coverage make it an essential reference for students, scholars and policymakers interested in the complexities of the European Union.
The Anatomy of Corporate Law
Professor Georg Ringe is among the authors of this leading international treatise on corporate law and governance. The authors start from the premise that corporations (or companies) in all jurisdictions share the same key legal attributes: legal personality, limited liability, delegated management, transferable shares, and investor ownership. Businesses using the corporate form give rise to three basic types of agency problems: those between managers and shareholders as a class; controlling shareholders and minority shareholders; and shareholders as a class and other corporate constituencies, such as corporate creditors and employees. After identifying the common set of legal strategies used to address these agency problems and discussing their interaction with enforcement institutions, The Anatomy of Corporate Law illustrates how a number of core jurisdictions around the world deploy such strategies. In so doing, the book highlights the many commonalities across jurisdictions and reflects on the reasons why they may differ on specific issues.
The analysis covers the basic governance structure of the corporation, including the powers of the board of directors and the shareholder meeting, both when management and when a dominant shareholder is in control. It then analyses the role of corporate law in shaping labour relationships, protection of external stakeholders, relationships with creditors, related-party transactions, fundamental corporate actions such as mergers and charter amendments, takeovers, and the regulation of capital markets.
The Anatomy of Corporate Law has established itself as the leading book in the field of comparative corporate law. Across the world, students and scholars at various stages in their careers, from undergraduate law students to well-established authorities in the field, routinely consult this book as a starting point for their inquiries.