What Is the Relationship Between Legal and Economic Development? Is the Marketisation of the Economy the Most Important Force Behind Legal Change in Contemporary China?
Mid-term Research Essay
Topic: What is the relationship between legal and economic development? Is the marketisation of the economy the most important force behind legal change in contemporary China?
Table of content:
I. Abstract ……………………………………………………………………………..2
II. Relationship between legal and economic development ……………………..……2
A. Max Weber’s theory ……………………………………………………….2
B. Believes of Douglass North and Kanishka Jayasuriya …………………….4
C. Contemporary views ……………………………………………………….4
III. Key drivers for legal reform in China …………………………………………….7
A. Pre- culture revolution ……………………………………………………..8
B. Post- culture revolution…………………………………………………….9
C. China’s accession to WTO ……………………………………………….11
IV. Conclusion ………………………………………………………………………12
V. Reference list ……………………………………………………………………..14
I. Abstract
This research paper is split into two parts. First part aims to examine the relationship between legal and economic development by literature review and to see what lessons one can learn from the East Asia Miracle. This leads to the second part of the paper which is to understand the legal reform in contemporary China and to determine whether marketisation is the main driver.
II. Relationship between legal and economic development
The relationship between legal and economic development does not seem to be very clear due to many environmental factors. Nevertheless, legal scholars and economists have tried to establish the link between legal and economic development over the years. To assess the relationship, this session is split into three parts: A) Max Weber’s theory B) Believes of Douglass North and Kanishka Jayasuriya and C) Contemporary view on the issue.
A. Max Weber’s theory
Weber believed that a rational legal system is a key to economic development[1] since some certainty and predictability are necessary to encourage individual to enter any kind of private transactions. Further, he
Topic: What is the relationship between legal and economic development? Is the marketisation of the economy the most important force behind legal change in contemporary China?
Table of content:
I. Abstract ……………………………………………………………………………..2
II. Relationship between legal and economic development ……………………..……2
A. Max Weber’s theory ……………………………………………………….2
B. Believes of Douglass North and Kanishka Jayasuriya …………………….4
C. Contemporary views ……………………………………………………….4
III. Key drivers for legal reform in China …………………………………………….7
A. Pre- culture revolution ……………………………………………………..8
B. Post- culture revolution…………………………………………………….9
C. China’s accession to WTO ……………………………………………….11
IV. Conclusion ………………………………………………………………………12
V. Reference list ……………………………………………………………………..14
I. Abstract
This research paper is split into two parts. First part aims to examine the relationship between legal and economic development by literature review and to see what lessons one can learn from the East Asia Miracle. This leads to the second part of the paper which is to understand the legal reform in contemporary China and to determine whether marketisation is the main driver.
II. Relationship between legal and economic development
The relationship between legal and economic development does not seem to be very clear due to many environmental factors. Nevertheless, legal scholars and economists have tried to establish the link between legal and economic development over the years. To assess the relationship, this session is split into three parts: A) Max Weber’s theory B) Believes of Douglass North and Kanishka Jayasuriya and C) Contemporary view on the issue.
A. Max Weber’s theory
Weber believed that a rational legal system is a key to economic development[1] since some certainty and predictability are necessary to encourage individual to enter any kind of private transactions. Further, he