An efficient legal system has a direct impact on economic development. A legal system that clearly establishes easily-ascertainable, evenly-applied rules reduces the uncertainty of doing business. This in turn reduces associated costs, enabling a greater number of transactions. Asian Economic and Legal Development: Uncertainty, Risk, and Legal Efficiency applies this theory to several Asian nations that have long been leaders in economic development -- Japan, Korea, People's Republic of China, Hong Kong, Indonesia, and Thailand. The theoretical model effectively explains both their successful growth and their recent collapse. This book describes economic development from a variety of disciplines -- history, jurisprudence, economics, anthropology, economic history, and economic development. The authors find unifying theme to development --the efficiency of the legal system and its ability to reduce business and political certainty as an influential factor. The authors have both writing and teaching experience as well as extensive backgrounds as practitioners in private firms and as counsel for corporations. Businesspeople, government leaders, academics, and students will find this book a unique and valuable mechanism for understanding economic growth in Asia and its current problems.
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