Download or read book Developing Commercial Law in Transition Economies written by Cheryl Williamson Gray and published by World Bank Publications. This book was released on 1995 with total page 56 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Developing Commercial Law in Transition Economies written by Gray and published by . This book was released on 1999 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: November 1995 Three things are essential to implement decentralized legal frameworks in any setting: reasonable laws, adequate institutions, and market-oriented incentives. The problem in transition economies is that all three must to a large extent be built from scratch. The question to ask at any point in time is not whether there is rule of law, but whether the country is moving in the right direction along all three dimensions. Implementing decentralized legal frameworks requires reasonable laws, adequate institutions, and market-oriented incentives. All three must exist together. Laws or institutions without each other or without a supportive framework of incentives are likely to lie dormant, while incentives by themselves will be frustrated without a reasonable legal framework and institutions to support and enforce them. Developing any of these elements is a major challenge, and progress along all three takes time. In transition economies, not only must new laws be drafted (a daunting task yet perhaps the easiest of the three) but they must be accompanied by the growth of supportive institutions (including formal judicial institutions and the watchdog institutions that we almost take for granted in advanced market economies). And they must be accompanied by economic reforms -- whether privatization (particularly with outside owners) or banking reforms -- that separate actors from the state and reinforce market-based incentives. Gray and Hendley use two case studies -- Hungarian bankruptcy law and Russian company law -- to illustrate the interaction of these three elements in practice. These cases illustrate their general view that Central Europe is somewhat further along on all three dimensions than Russia. Russia is not advanced in the development of either laws or institutions, among other reasons because it lacks Hungary's pre-war legacy of a legal tradition (Russia having never been a society or an economy ruled fundamentally by law) and because it launched economic reform much later. As for incentives, in both countries relevant actors exert weaker demand for proper implementation of the laws on the books -- weaker demand that there be stable rules of the game -- than one would expect in more mature market economies. The cases belie any simplistic notion that the rule of law can be mechanically dictated from above. Top-down reform of bankruptcy law in Hungary appears to have been at least marginally successful in changing expectations and behavior, partly because it stimulated the growth of new supporting institutions. It might have been more successful if other areas of government policy had created more complementary incentives, particularly in banks. Top-down reform of company law in Russia has had little impact to date on either institutional development or firm behavior. This paper -- a product of the Transition Economics Division, Policy Research Department -- was prepared for the John M. Olin Lecture Series at Harvard University.
Download or read book The Legal Framework for Private Sector Development in a Transitional Economy written by and published by World Bank Publications. This book was released on 1991 with total page 38 pages. Available in PDF, EPUB and Kindle. Book excerpt: Poland is rapidly developing a reasonable legal framework to support its transition to a market economy. Yet legal practice lags behind. Precedent and expertise must be built through training and experience.
Download or read book The Emerging Legal Framework for Private Sector Development in Viet Nam s Transitional Economy written by Pham van Thuyet and published by World Bank Publications. This book was released on 1995 with total page 60 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book The Law Reform Olympics written by Veronica L. Taylor and published by . This book was released on 2013 with total page 41 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper focuses on why 'indicators' and evaluative questions about the external form of commercial law in transition economies are now so much in vogue. I trace the objectives and methods of a four different evaluative projects sponsored by the World Bank and USAID that are designed to assess and ultimately to rank the legal systems of transition economies. One obvious impetus for the evaluative turn in technical legal assistance is that there are so many legal systems in 'transition' and so much money is being spent on them. Another is that global bureaucracies such as the World Bank, the IMF, the European Bank for Reconstruction and Development, the Asian Development Bank and the postindustrial states that sponsor them are predisposed to using evaluative techniques as forms of audit and control. The 'indicators' of commercial law now used in legal technical assistance projects are designed to allow ranking of legal systems according to their compliance with 'best-practice' models of commercial law in countries assumed to have well-established 'rule of law'. Significantly, the rankings are intended in many cases to guide allocative decision-making. This is the process that I call the 'law reform Olympics'
Download or read book Transnational Business Law written by Rumu Sarkar and published by . This book was released on 2003 with total page 478 pages. Available in PDF, EPUB and Kindle. Book excerpt: In developing countries, because of economic development pressures that deeply pervade all aspects of enterprise, international business transactions give rise to crucial issues that practitioners cannot afford to ignore. In this new book Rumu Sarkar, whose Development Law and International Finance has quickly taken its place as the preeminent theoretical analysis of the new legal discipline of development law, at last gives busy lawyers engaged in international business as practical a text as they could desire. Transnational Business Law shows that the decisions and strategies of lawyers involved in the hectic daily routines of creating and executing cross-border transactions can serve the best interests not only of their businesses but of economic development as well. In essence, this is a classic international business transactions handbook, with the overarching dimension of development law added. It offers detailed principles for structuring transactions, negotiating the underlying finance and related documents, and navigating dispute resolution mechanisms. It provides annotated forms, negotiating exercises, hypothetical examples, and actual case summaries and analyses. It presents economic development issues as they arise in such areas of activity as the following: cross-border financing of goods and services, technology transfers, and intellectual capital; structuring cross-border transactions through private equity, corporate debt, and multilateral development bank financing; managing commercial risks; negotiating debt work-outs for non-performing loans; mitigating non-commercial risks through credit enhancement strategies such as obtaining political risk insurance; and contracting for arbitration or other dispute resolution methods. Important factors such as 'long-arm' U.S. law, international legal regulation of business conduct, and relevant underlying local law and local legal traditions are all brought to bear on the issues when appropriate. Transnational Business Law will be especially useful to practitioners in developing countries whose legal decisions in relation to cross-border transactions often involve critical economic and political ramifications. Through her detailed exploration of how international transactions unfold within the context of economic development, Professor Sarkar greatly enhances the growth of a commitment among the international business community to achieve mutually constructive ways to conduct business between developed and developing countries.
Download or read book Law and the Transition to Business Sustainability written by Daniel R. Cahoy and published by Springer. This book was released on 2014-06-30 with total page 160 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book expands on law-related research by examining the legal aspects of sustainability with a focus on the impact on business strategies. It recognizes that firms must adopt an integrated approach to law and sustainability, considering multiple disciplines and goals, and serve as a forum for bringing together scholarship from fields such as environmental law, energy, government regulation and intellectual property. Firms increasingly have an interest in transitioning to sustainable business practices that take into consideration the fact that global resources are finite and will be increasingly scarce. They acknowledge that current actions have social, economic and environmental consequences and employ options to ensure that future generations have the same options and benefits. Examples of sustainable practices increasingly employed by firms include the institutionalization of “whole life-cycle” analysis in marketing and product design, utilization of sustainable inputs and energy sources, tracking and reporting sustainability performance, attempting the valuation of future generation prosperity and happiness as a discounting mechanism, and integrating sustainability into firm culture and management goals. It is clear that law and regulation have an extremely important role to play in the transition to more sustainable business practices. Broadly stated, law can provide structure for firms responding to forces that pull transition by enabling sustainability leadership and competitive advantage through funding models, intellectual property rights and collaboration means. Additionally, law can work to push transition by compelling firms to act through regulatory structures, accounting and governance mechanisms.
Download or read book Enforcing Contracts in Transition Economies written by Mads Tønnesson Andenæs and published by British Inst of International & Comparative. This book was released on 2005 with total page 204 pages. Available in PDF, EPUB and Kindle. Book excerpt: This important and incisive new book examines contractual enforcement mechanisms in Central and South-Eastern Europe and the Commonwealth of Independent States. The volume is an outcome of the cooperation between the European Bank for Reconstruction and Development and the British Institute of International and Comparative Law. The book highlights that after more than 13 years of transition, contract enforcement has not reached a stage where it provides the required basis for economic development. It requires sustained attention from national governments, regional bodies, and the international community. The book concludes by examining the appropriate way forward. The enforcement of contractual rights and obligations is a condition for economic development, and this book should appeal to a wide readership ranging from academics and practitioners to policy makers and the judiciary in both developed and developing economies.
Download or read book Commercial Law of the People s Republic of China written by Patricia Blazey and published by . This book was released on 2012 with total page 588 pages. Available in PDF, EPUB and Kindle. Book excerpt: Commercial law plays a large part in China's transition to its status as a major trading nation. This book contains chapters that focus on areas of the law pertinent to China's continuing economic development. It provides an analysis of the Five Year Plans and their effect on the development of and changes in commercial law. China is focused on developing its internal market and COMMERCIAL LAW OF THE PEOPLE'S REPUBLIC OF CHINA provides an examination of a number of highly relevant topics, such as Company Law, Labour Law, Property Law, Intellectual Property Law, Consumer Law, Energy Law and Renewable Energy Law. Chapters on Tax Law, Competition Law and Policy, and Commercial Arbitration Law written by experts in their field provide an up-to-date and in-depth coverage of other important commercial law subjects. This book acknowledges that Chinas rapid development is affected by policy changes on issues such as urbanisation, the structure of the industrial sector and the environment. These changes and their effect on the national economy and the legal system are discussed in the book.
Download or read book Company Law in the New Europe written by Janet Dine and published by Edward Elgar Publishing. This book was released on 2007-01-01 with total page 379 pages. Available in PDF, EPUB and Kindle. Book excerpt: This study on the potential of law to ensure the social responsibility of a company is an innovative and important study. It is a topical contribution to the sociology of market economies in transition. It is a unique effort to provide detailed practical guidance for the design of the company law in developing economies in general and the new Europe in particular. Christian Joerges, European University Institute Florence, Italy This book provides comprehensive analysis of the recent enlargement of the EU, shedding light on the rationale behind the EU s decisions to enlarge, examining the side effects these choices have on a range of EU policies and particularly on the effect of the Acquis on candidate countries. Emphasis is placed on the area of company law, which occupies a central part in a country s economic planning and therefore its commercial law. Past enlargements are thoroughly explained and the potential impact of the new political landscape in Europe in the wake of the popular rejection of the European Constitutional Treaty on future enlargements is evaluated. A comparative methodology for commercial law drafting in transition and developing economies is put forward and the book concludes with a complete draft of a model company law for transition (and developing) economies. The aim is to provide a template for discussion. This book will be of great interest to those interested in considering the influence that the prospect of EU membership has on transition countries in general, the emphasis being on laws vital to emerging market economies, particularly commercial and company law.
Download or read book Law Reform in Developing and Transitional States written by Tim Lindsey and published by Routledge. This book was released on 2006-12-05 with total page 448 pages. Available in PDF, EPUB and Kindle. Book excerpt: This informative book examines examples of law reform projects in post-socialist and post-authoritarian states in Asia, identifies common problems, and proposes analytical frameworks for understanding them.
Download or read book Law and Finance in Transition Economies written by Katharina Pistor and published by . This book was released on 2000 with total page 34 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Corporate Governance in Transition Economies written by Robert W. McGee and published by Springer Science & Business Media. This book was released on 2008-11-16 with total page 418 pages. Available in PDF, EPUB and Kindle. Book excerpt: "Corporate Governance in Transition Economies" will appeal to a wide segment of the academic market including accounting and finance professors and students because the main theme of the book deals with accounting and financial system reform. Economists in the subfields of transition economics and development economics for it addresses current issues in their field. It will also appeal to scholars in the field of Russian and East European Studies because the book discusses topics involving Russia, Ukraine and other East European countries. Policy analysts who deal with accounting, finance, transition economics or Russia or Eastern Europe will also find this book to be a valuable reference and source of current information.
Download or read book Judicial Systems in Transition Economies written by James Horton Anderson and published by World Bank Publications. This book was released on 2005 with total page 144 pages. Available in PDF, EPUB and Kindle. Book excerpt: 'Judicial Systems in Transition Economies' looks at the experience of countries in Central and Eastern Europe and the Baltics (CEE) and the Commonwealth of Independent States (CIS) as they reform their legal and judicial institutions to fit the needs of a market economy. The study shows, rather disturbingly, that less progress has been made in judicial reform than in most other areas of institutional reform in these countries. The transition from socialism to capitalism requires a fundamental reorientation of legal and judicial institutions. This study reviews the environment preceding reforms, forces that provoked and supported them, and the reform agendas undertaken in these countries since 1990. Against this background, it exposes the impact of reforms, implementation gaps, and the underlying determinants of success and failure. The report examines how courts have performed, and reveals their impact on public opinion and the business environment. It provides insight into linkages among reforms as well as linkages between reforms and public demand for a fair judiciary. The authors show that while each country presents different challenges and opportunities, certain lessons apply in most settings. Their insights and data would be useful to policy makers, judicial personnel, and those involved in reforming judiciaries. The study draws on numerous data sources. These include the World Bank, the European Bank for Reconstruction and Development (EBRD, the American Bar Association-Central European and Eurasian Law Initiative (ABA-CEELI), the World Values Survey, the World Economic Forum, and the University of Strathclyde.
Download or read book Law Reform in Developing and Transitional States written by Timothy Lindsey and published by Taylor & Francis. This book was released on 2007 with total page 449 pages. Available in PDF, EPUB and Kindle. Book excerpt: This informative book examines examples of law reform projects in post-socialist and post-authoritarian states in Asia, identifies common problems, and proposes analytical frameworks for understanding them.
Download or read book Global Perspectives on Trade Integration and Economies in Transition written by Erokhin, Vasily and published by IGI Global. This book was released on 2016-06-16 with total page 434 pages. Available in PDF, EPUB and Kindle. Book excerpt: In the era of globalization, foreign trade has an immense impact upon modern economies. To succeed in the global marketplace, sustainable development in trade practices is an imperative goal for countries to reach. Global Perspectives on Trade Integration and Economies in Transition is an authoritative reference source for the latest research on the dynamics of transitional economies and how certain obstacles can disrupt the effectiveness of the transition process. Highlighting the value of trade incorporation at the national and international levels, this book is ideally designed for researchers, professionals, government officials, policy makers, and upper-level students interested in the intersection of globalization, trade, and international economics.
Download or read book Transition Economies written by Rosolino Candela and published by . This book was released on 2018 with total page 8 pages. Available in PDF, EPUB and Kindle. Book excerpt: Must the rule of law spring upon us solely by accident and force, or can it also emerge as a product of political reflection and choice? As the lessons in the political and economic transition of centrally planned economies in Europe and Asia illustrate, the transitional movement requires an element of political reflection and deliberate choice, specifically the establishment a binding and credible commitment to limits on state action. In order to do so, credible commitment to the rule of law must be signaled ex-ante by political reformers if reform efforts are to be successful, from which economic development follows ex-post. The historical record shows, however, that efforts to establish the rule of law in transition economies has been mixed. This chapter explains why this is the case, specifically by comparing Russia and China as case studies of transitional political economy.
