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- Title
The quality of the legal system and labor market performance around the world.
- Authors
Feldmann, Horst
- Abstract
Using data on 75 countries for six years in the period 1995–2003, this paper analyzes empirically whether and to what extent the quality of the legal system affects the performance of the labor market. According to the regression results, a legal system characterized by a dependent judiciary, biased courts, a lack of intellectual property protection and a lack of integrity increases unemployment and lowers the employment level. The magnitude of the effect seems to be substantial, particularly among young people.
- Subjects
LABOR laws; JUSTICE administration; RULE of law; UNEMPLOYMENT laws; LABOR market
- Publication
European Journal of Law & Economics, 2009, Vol 28, Issue 1, p39
- ISSN
0929-1261
- Publication type
Article
- DOI
10.1007/s10657-008-9092-4