Instructor(s) Ohnesorge, John
What roles do law and legal institutions play in economic development? Does legal system development lag economic development, or is a "good" legal system a prerequisite of economic development? If a "good" legal system is indeed a prerequisite, can institutions like the World Bank, the International Monetary Fund, or the aid agencies of the United States play a positive role in supporting legal system reform in developing countries? What economic theory would, or should, inform such efforts? What about democratic legitimacy, or national sovereignty? And what about countries like China, or South Korea before it, where high speed growth has gone hand in hand with seriously flawed legal orders? These are the kinds of questions we will explore throughout the semester, as we look at the history of ideas and practices in the field of Law & Development, as well as at national case studies. Students will write and present research papers on topics they choose, and these papers, together with class participation and short response papers, will provide the basis for grading.