Using new field-level and international survey evidence we highlight one channel via which weak legal institutions may lower Indian productivity and growth. We provide evidence that top executives in Indian firms are highly centralized and do not delegate functional responsibility and decision making to middle-management. Case-study evidence and large-scale firm surveys suggest executives fear that managers will misappropriate firm assets given the opportunity to do so, in part because the weak legal system is unlikely to successfully punish the culprits and recover the assets.
Over the last fifteen years the world's largest developing countries have initiated market reforms in their electric power sectors from generation to distribution. This book evaluates the experiences of five of those countries - Brazil, China, India, Mexico and South Africa - as they have shifted from state-dominated systems to schemes allowing for a larger private sector role.
An intensive global search is on for the "rule of law," the holy grail of good governance, which has led to a dramatic increase in judicial reform activities in developing countries. Very little attention, however, has been paid to the widening gap between theory and practice, or to the ongoing disconnect between stated project goals and actual funded activities. Beyond Common Knowledge examines the standard methods of legal and judicial reform.
This volume centers on the movement toward global legal standards, an increasingly recognized dimension of the quest to improve the rule of law. Although the drive to make law uniform across disparate political jurisdictions has a rich and imposing history, the contemporary enterprise to enact and enforce standard legal norms and procedures in fields as diverse as the law of companies, financial regulation, labor, constitutional dimensions of trade disputes resolution, environment and criminal procedure is clearly a growth industry.