NB! Open Access Paper on empirical coevolutionary relations between law and economy

OPEN ACCESS

JOHN BUCHANAN, DOMINIC HEESANG CHAI and SIMON DEAKIN. 2013. Empirical analysis of legal institutions and institutional change: multiple-methods approaches and their application to corporate governance research. – Journal of Institutional Economics / Volume 10 / Issue 01 / Märts 2014, pp 1-20.

Copyright © Millennium Economics Ltd 2013 The online version of this article is published within an Open Access environment subject to the conditions of the Creative Commons Attribution licence

DOI: http://dx.doi.org/10.1017/S1744137413000349 (About DOI), Published online: November 28 2013.

 

Abstract:

The claim that institutions matter for economic growth and development has so far received a more extensive theoretical treatment than an empirical or methodological one. Basing our approach on a coevolutionary conception of relations between law and the economy, we link theory to method and explore three techniques for analysing legal institutions empirically: ‘leximetric’ measurement of legal rules, time-series econometrics and interview-based fieldwork. We argue that while robust measurement of institutions is possible, quantitative techniques have their limits, and should be combined with fieldwork in a multiple-methods approach.

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