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