Law & Capitalism

What Corporate Crises Reveal about Legal Systems and Economic Development around the World

By: Curtis J. Milhaupt, Katharina Pistor

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Paperback | 23 April 2010 | Edition Number 1

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280 Pages

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22.86 x 15.8 x 1.7

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$83.75

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Recent high-profile corporate scandals-such as those involving Enron in the United States, Yukos in Russia, and Livedoor in Japan-demonstrate challenges to legal regulation of business practices in capitalist economies. Setting forth a new analytic framework for understanding these problems, Law and Capitalism examines such contemporary corporate governance crises in six countries, to shed light on the interaction of legal systems and economic change. This provocative book debunks the simplistic view of law's instrumental function for financial market development and economic growth.
Using comparative case studies that address the United States, China, Germany, Japan, Korea, and Russia, Curtis J. Milhaupt and Katharina Pistor argue that a disparate blend of legal and nonlegal mechanisms have supported economic growth around the world. Their groundbreaking findings show that law and markets evolve together in a "rolling relationship," and legal systems, including those of the most successful economies, therefore differ significantly in their organizational characteristics. Innovative and insightful, Law and Capitalism will change the way lawyers, economists, policy makers, and business leaders think about legal regulation in an increasingly global market for capital and corporate governance.

Industry Reviews

"Two of the world's best scholars in law and economic development have teamed up to explain how different governments try to promote economic growth.... The 'institutional autopsies' - case studies of firm-level scandals around the world like Enron - engage the reader and draw the general out of the particular. You enjoy this book as you learn from it." - Robert Cooter, University of California, Berkeley.

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Non-Fiction Law Laws of Specific Jurisdictions Company Law Business Law Commercial Law Economics Microeconomics Jurisprudence & General Issues Comparative Law Economic Systems & Structures Constitutional & Administrative Law

International Law Miscellaneous Items

Preface	p. ix
Introduction	p. 1
From Weber to the World Bank, and Beyond
The Prevailing View: Impact, Assumptions, and Problems	p. 17
Rethinking the Relation between Legal and Economic Development	p. 27
Institutional Autopsies
The Enron Scandal: Legal Reform and Investor Protection in the United States	p. 47
The Mannesmann Executive Compensation Trial in Germany	p. 69
The Livedoor Bid and Hostile Takeovers in Japan: Postwar Law and Capitalism at the Crossroads	p. 87
Law, Growth, and Reform in Korea: The SK Episode	p. 109
The China Aviation Oil Episode: Law and Development in China and Singapore	p. 125
“Renationalizing” Yukos: Law and Control over Natural Resources in the Russian Economy	p. 149
Implications and Extensions
Understanding Legal Systems	p. 173
Legal Change	p. 197
Conclusion	p. 219
Notes	p. 225
References	p. 249
Index	p. 263
Table of Contents provided by Ingram. All Rights Reserved.

Law & Capitalism

What Corporate Crises Reveal about Legal Systems and Economic Development around the World

At a Glance

Paperback

Industry Reviews

Shipping

How to return your order

Defective items

You Can Find This Book In

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