Purpose: This study aimed to better define the boundary conditions of voluntary business engagement for social and economic transformation. Approach: Case study of the Consultative Business Movement (CBM) in South Africa's democratic transition through historical narrative and analysis, applying...

Institutions may rely on fundamental principles, e.g., of legal philosophy, but may also have evolved according to institutional fitness, as gauged by a society's well-being. In our stylized framework where two fundamental principles, equality and efficiency, conflict with each other, one of the...

Securing central bank independence (CBI) is considered a vital and common practice in a large number of countries, since this independence is often associated with favorable economic performance, and it isolates monetary policy from the distortions of political business cycles, associated with...

Despite the widespread debate about crime in Brazil and the alarming increase in homicides in recent years, few studies have analyzed or expos ed evidence of the impact of public security spending on det erring violence in the country . This may be due to issues of endogeneity when estimating...

Crime and violence generate many distortions in the allocation of private and public resources and engender economic and social costs that hinder development. In Latin America and the Caribbean, which is the most violent region on earth, the costs of crime represent at least 3.5% of the regional...

Am 9. April 2020 einigten sich die Finanzminister der Eurozone auf Kreditlinien beim Europäischen Stabilisierungsmechanismus (ESM), um der Corona-Krise entgegenzutreten. Die ESM-Kredite werden mit 200 Mrd. Euro beziffert. Dieser Wert ist jedoch irreführend, denn nur wenige Staaten hätten...

Recreational cannabis markets possibly increase labor demand through investments in facilities for growing, processing, and retail sales of cannabis, as well as through other industries such as manufacturing, leisure, and hospitality. However, this increase in labor demand may vary substantially...

Financial inclusion, for which the keystone is access to a bank account, is crucial to overcome the socioeconomic backwardness of African countries and to improve the African societies' well-being. The study concentrates on this continent to better understand the nature of its development in...

In Europe, legislators are increasingly introducing sustainability goals into the system of private law. By prohibiting certain conduct, increasing transparency, nudging companies, as well as changing institutions, procedures and liability regimes, legislators complement private law with tools...

The emerging field of law and macroeconomics is dominated by Keynesianism, which is used to defend interventionism. Law fluctuates with economic fluctuations. I defend an alternative approach that resists fluctuations in the law and supports the rule of law. This approach emerges from...