Judicial Systems in Transition Economies


Book Description

'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.




Law and Finance in Transition Economies


Book Description

This paper offers the first comprehensive analysis of legal change in the protection of shareholder and creditor rights in transition economies and its impact on the propensity of firms to raise external finance. Following La Porta et al. (1998), the paper constructs an expanded set of legal indices to capture a range of potential conflicts between different stakeholders of the firm. It supplements the analysis of the law on the books with an analysis of the effectiveness of legal institutions. Our main finding is that the effectiveness of legal institutions has a much stronger impact on external finance than does the law on the books, despite legal change that has substantially improved shareholder and creditor rights. This finding supports the proposition that legal transplants and extensive legal reforms are not sufficient for the evolution of effective legal and market institutions.




Model Rules of Professional Conduct


Book Description

The Model Rules of Professional Conduct provides an up-to-date resource for information on legal ethics. Federal, state and local courts in all jurisdictions look to the Rules for guidance in solving lawyer malpractice cases, disciplinary actions, disqualification issues, sanctions questions and much more. In this volume, black-letter Rules of Professional Conduct are followed by numbered Comments that explain each Rule's purpose and provide suggestions for its practical application. The Rules will help you identify proper conduct in a variety of given situations, review those instances where discretionary action is possible, and define the nature of the relationship between you and your clients, colleagues and the courts.




Courts in Federal Countries


Book Description

Courts are key players in the dynamics of federal countries since their rulings have a direct impact on the ability of governments to centralize and decentralize power. Courts in Federal Countries examines the role high courts play in thirteen countries, including Australia, Brazil, Canada, Germany, India, Nigeria, Spain, and the United States. The volume’s contributors analyse the centralizing or decentralizing forces at play following a court’s ruling on issues such as individual rights, economic affairs, social issues, and other matters. The thirteen substantive chapters have been written to facilitate comparability between the countries. Each chapter outlines a country’s federal system, explains the constitutional and institutional status of the court system, and discusses the high court’s jurisprudence in light of these features. Courts in Federal Countries offers insightful explanations of judicial behaviour in the world’s leading federations.




Annual World Bank Conference on Development Economics Regional 2007


Book Description

Global Development Finance (GDF), is the World Bank's annual review of recent trends in and prospects for financial flows to developing countries. It is an indispensable resource for governments, economists, investors, financial consultants, academics, bankers, and the entire development community. Vol I: Analysis and Outlook reviews recent trends in financial flows to developing countries. Also available as a two volume set, Vol II. Summary and Country Tables* includes comprehensive data for 138 countries, as well as summary data for regions and income groups.




Law in Transition


Book Description

The states of Central and Eastern Europe have, to different extents and with varying levels of success, engaged in the transition from authoritarian rule. The (re-) construction of democratic, law-based governance has turned out to be a lengthy and - at times - frustrating process. The agenda for post-communist reform contains many entries, yet a transition-blue-print is not available. The papers collected in this volume explore the implications of the transition process in various areas. While not all aspects of post-communist law are covered, several crucial issues receive an in-depth treatment. These are: the development of (supra-) governmental systems, the procuracy, minority rights, contract law, land ownership and industrial property rights. Displaying remarkable scholarly as well as practical legal expertise, the various contributors to this volume illustrate the problems in, and the potential of, these policy areas.




Corporate Governance Lessons from Transition Economy Reforms


Book Description

Corporate Governance Lessons from Transition Economy Reforms explores a timely topic at the intersection of economics, law, and policy reform. To date, most sophisticated theoretical work on corporate governance has focused on advanced market economies. In post-socialist countries, corporate finance and transition economics scholars have often done little more than convey the received theory to transition policymakers. This volume focuses, for the first time, on the reverse concern: what, if anything, do the reform experiences of transition countries teach about corporate governance theory more generally? To investigate this question, Merritt Fox and Michael Heller have assembled a stellar group of corporate governance theorists. The answers are startling. The principal essays approach the problem from three complementary perspectives that form the organizing themes of the book. The first part refines core corporate theory terms. The second presents important empirical work that explores the channels through which "good corporate governance" may link to the real economy. The final part links corporate governance theory to practical reforms. After fifteen years of experience, practice can now inform theory. Together, these essays present a comprehensive new view on a provocative theme. Written in an accessible style, they will be of interest to a broad range of scholars, commentators, and policymakers.




Transitional Economies


Book Description

The integration of the countries of Central and Eastern Europe and the Commonwealth of Independent States international financial system was arguably one of the most profound changes experienced by the world economy in the 1990s. This book examines these countries in reforming their financial systems in the first decade of transition. Through case studies as well as more thematic approaches contributors deal with crucial elements of building a market-based financial system, the transformation of the banking sector, and non-bank reform and regulation of financial markets. They emphasise the importance of institution-building to the process of financial sector transformation and highlight the lessons to be learned from transitional financial experiences.




Corporate Governance in Transition Economies


Book Description

"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.




Law Reform in Developing and Transitional States


Book Description

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.