This paper examines the connection between the legal environment and financial development, and then traces this link through to long-run economic growth. Countries with legal and regulatory systems that (1) give a high priority to creditors receiving the full present value of their claims on corporations, (2) enforce contracts effectively, and (3) promote comprehensive and accurate financial r...

This introductory chapter to Economic Models of Law (forthcoming, Edward Elgar) discusses the use of economic models for understanding law. It also provides a survey of the contents of the volume, which consist of twenty-one previously published articles in the areas of torts, contracts, property, and legal process.

Metcalfe’s Law was widely accepted and used to explain internet boom. It has drawn a lot of criticism in explaining Web 2.0. This paper connects Transaction Cost Theory (TCT) with Metcalfe’s Law. It not only proves that they are consistent but also makes economical sense of the Law by introducing the second critical mass in to Metcalfe’s Law. Efforts are also used to explain exiting Web effect ...

OBJECTIVE To analyse trends in road traffic crashes, injuries and fatalities over 75 years in Sri Lanka. METHODS Data on road traffic crashes, injuries and fatalities between 1938 and 2013 were obtained from the Police Statistics Unit. Rates per 100,000 population were calculated and trends were analysed using joinpoint regression analysis. FINDINGS Road traffic crashes and injuries rose su...

Problems of violent youth groups have escalated in Indonesia, following economic recession, unemployment, and weakened state institutions. Young people have been hit by the lack of income and broken expectations. In consequence, youth groups emerge and arrange for members' economic revenue as well as identity creation and confidence. Religion in some cases is used to legitimize violence and to ...

As the largest energy consumer and carbon emitter, China has made substantial efforts to improve energy efficiency to save energy, while the energy rebound effect mitigates its effectiveness. This paper is based on the logical relationship among capital input, technical change, economic growth, and energy consumption, adapting an alternative estimation model to estimate the energy rebound effec...

This paper uses Benford’s Law, a mathematical law that predicts the frequency of naturally occurring numbers, to investigate the occurrence of the intentional manipulation of reported financial statement numbers during recessionary times. The analysis shows that reported financial statement data generally conforms to Benford’s Law. However, in periods surrounding recessions occurring since 1950...

The relationship between national income and government spending is one of the most debated topics between economists and policy makers during the last decades. The objective of this paper is to examine the Wagner’s law validity, and if it can be applied in the U.K. public spending expansion for the period 1850-2010. According to Wagner’s hypothesis, fundamental economic growth is a determinant...

a r t i c l e i n f o In this paper we consider whether economic growth in China could be constrained by the physical development of the energy distribution network. Specifically, we structurally test the network theory of electricity distribution of Dalgaard and Strulik (2011) using city level data for China. In their paper they argue that the relationship between the size of the economy, meas...

This paper cuts adrift the mainstream approach to the legal-origins debate on the law-growth nexus by integrating both overall economic and human components in our understanding of how regulation quality and the rule of law lie at the heart of economic and inequality adjusted human developments. Findings summarily reveal that legal-origin does not explain economic growth and human development b...