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Think Tank Economic Efficiency of Law (2eD)
Rationale Of The Economic Efficiency of Law Programme
Over the last fifteen years or so, there has been renewed interest in law in relation to "effective government" programmes. More particularly, faced with the failure of a number of their policies, economic development agencies have been exploring the use of legal mechanisms in support of a strategy for economic growth. For example, the work of economist Hernando de Soto has been very influential internationally. It underlines the importance of enabling the poorest in society to register their real property and to use it as security in order to obtain credit.
In 2004, an international programme of research into the economic efficiency of law was launched, under the aegis of the Ministry of Justice. The foundation took over this programme in September 2007. It has a two-fold objective. This is firstly, to initiate a series of technical research projects concerning the relationship between law and the economy. Through these projects a well-supported framework of argument can be created, so that we can engage in debate at the international level, especially in relation to the conclusions of the World Bank's "Doing Business" reports, which are questionable. Secondly, it is to disseminate the results of this research internationally. To date, three works have been published.
The new management team's priorities are to supervise the progress of the studies already begun and to extract the greatest benefit from the existing publications, in particular by disseminating them through the international network of contacts established in the previous phase. The maintenance and development of this network is fundamental to the success of the programme. A new work within the series is expected in 2008.
The Technical Council of the Initiative has identified three areas of focus:
- long-term studies on the comparative cost of legal proceedings, the law of credit and finance, the effectiveness of administrative law, legal certainty, and regulation and control
- regular international conferences
- publicity: various types of publication, in electronic form and on paper, by way of "technical marketing". These include an annual report, the studies, a monthly newsletter and press articles.
Objective Of The Economic Efficiency of Law Programme
To establish a think tank dedicated to the practical exploitation of the research referred to above, on the economic effect of legal rules.
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