|Legal Reform Project | 21-03-2001
|The project is carried out under the leadership of the Legal Reform Institute (US) and in partnership with Stockholm Institute of Transition Economics (Sweden).
Project Start: March 2001
Project End: ongoing
The general institutional environment in Russia is still in need of wide-ranging reform. The current government has embarked on an ambitious program addressing many of these deficiencies, but much remains to be done.
The objective of the Legal Reform Project, which includes a series of 10 studies in different areas, is to demonstrate how laws and regulations can and should be analyzed in carrying out legal reform. We assume that the main goal of legal reforms in the areas we are considering is to promote economic growth and to further economic and social development of the country. We want to understand the political economy of the reform in a respective area and make use of this understanding in the design of specific legal reform proposals.
The areas under consideration include:
- Theory of legal reform;
- Administrative reform;
- Accession to the WTO;
- Bankruptcy law, its economics and politics;
- Regulation of natural monopolies;
- Financial sector regulation;
- Corporate governance;
- Regulation of real estate markets;
- Judicial system reform (Russian commercial courts)
The studies utilize several common themes in examining each area of legislation. These are:
- Connections between the area of legislation being considered and economic growth;
- History and current status of an area of law with respect to the goal of economic growth;
- Public and private enforcement of laws and the incentives of enforcement agents;
- Process of law-making and the main political forces that have been relevant in that process;
- Role of corruption and bribes in the operation of law and influencing the law-making process,
- Policy successes and failures, and their reasons,
- When possible to identify, measures of legal reform progress.
The volume, which contains five studies on law and justice, bankruptcy, commercial courts, taxation, and impact of legal reforms on economic growth was published in 2004.