Rule of Law and Trade: The Case of the EU

Over the past decade, several European Union member states have experienced a significant decline in their rule of law. This is especially so in Hungary and Poland that have been at the forefront of discussions revolving around the decline of the rule of law in Europe and the rise of populism and illiberal democracies. One question raised by this decline of rule of law is whether it has an economic impact. Theory and empirical research on the rule of law and economic growth have established a positive relationship between them. Implicit in that is the expectation that a rule of law decline would result in negative economic effects. However, if political regimes responsible for the erosion of the rule of law do not experience negative economic consequences to such conduct, they can be economically sustainable and, thus, more likely to politically sustain themselves as well. This study provides empirical evidence on the economic effects of rule of law decline.

ABOUT THE SPEAKER

Janka Deli is the Gerhard Casper Fellow in Rule of Law at CDDRL and a JSD Candidate at Stanford Law School. Prior to becoming a Fellow, she was a Data Science Scholar at Stanford Data Science for three years.

Janka conducts rule of law impact studies with a novel approach. Her current projects investigate how much the rule of law matters for firm value and international trade in the European Union, leveraging quantitative methods. Her knowledge in political science, economics, causal inference, and data science complements her comprehensive legal training.

Janka’s research has been generously supported by Stanford Data Science, the Office of the Vice Provost for Graduate Education, László Sólyom former Chief Justice of the Constitutional Court and former President of Hungary, the Rosztoczy Foundation, the American Association of University Women, the Hungary Initiatives Foundation, as well as the Dr. Elemér and Éva Kiss Scholarship Fund. As an acknowledgement of her outstanding academic performance at Stanford, she has received the Gerald J. Lieberman Fellowship and the Gerald Gunther Prize.

Janka received a JD degree along with a Certificate in Finance and Entrepreneurship from Pázmány Péter Catholic University in 2017 and obtained her JSM degree at Stanford in 2019.

Virtual to Public. Only those with an active Stanford ID with access to E008 in Encina Hall may attend in person.