PRAWO A EKONOMIA
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Date
2006
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WydziaĆ Prawa i Administracji UAM
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LAW AND THE ECONOMY
Abstract
Law today constitutes an area of intense interdisciplinary research. An example of such research
may be the economic analysis of law. The author understands the concept of law as law in
action defined as the process of law formation and execution. Such a construction of law arises
from democracy and the rule of law which, when considered independently, allow to analyse the relations
between them. Next, the rule of law is analysed as a gradable concept, and the study on the
influence of law on the rate of investments, the development of the financial sector, the increase in
productivity and the ownership structure of firms and the availability of capital are presented.
The influence of administrative legal regulations on people's behaviour and economic development
(including, among others, moral hazard, social cost of extensive social protection and reasons
for unemployment) is also shown. Concluding, the author draws our attention to the results of
some empirical studies carried out recently worldwide and encourages similar studies to be carried
out in Poland.
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Citation
Ruch Prawniczy, Ekonomiczny i Socjologiczny 68, 2006, z. 2, s. 87-93.