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Tiede, Lydia Brashear --- "The rule of law, institutions, and economic development" [2018] ELECD 623; in May, Christopher; Winchester, Adam (eds), "Handbook on the Rule of Law" (Edward Elgar Publishing, 2018) 405

Book Title: Handbook on the Rule of Law

Editor(s): May, Christopher; Winchester, Adam

Publisher: Edward Elgar Publishing

ISBN: 9781786432438

Section: Chapter 24

Section Title: The rule of law, institutions, and economic development

Author(s): Tiede, Lydia Brashear

Number of pages: 14

Abstract/Description:

How does the rule of law influence economic development? While scholars have developed unique insights to answer this question, as of yet most studies provide limited answers due to the fact that scholars define rule of law in a limited way focusing only on a few aspects of this multifaceted concept. Further, many studies are constrained by the particular countries and time periods chosen for analysis as well as the measurements used to serve as proxies for the rule of law in empirical studies. This chapter suggests that in order to adequately discover the nexus between the rule of law and economic development, scholars must define this concept more expansively and work harder to ascertain causality.