Recent years have seen sharp growth in the number and scale of class actions filed before the UK Competition Appeal Tribunal ('Tribunal'). Pending claims are worth an estimated £134 billion. There are 655 million claimants, that is, ten claims per person. On average, there is roughly one new...

Recent years have seen sharp growth in the number and scale of class actions filed before the UK Competition Appeal Tribunal ('Tribunal'). Pending claims are worth an estimated £134 billion. There are 655 million claimants, that is, ten claims per person. On average, there is roughly one new...

This Brief introduces the Justice Pillars Towards Evidence-Based Reform (JUPITER) initiative, a standardized yet flexible, country-based assessment tool that evaluates the effectiveness of justice systems across countries. Developed by the World Bank's Global Program on Justice and the Rule of...

This Brief examines the complex relationship between statutory courts and customary law systems, highlighting the historical context that fostered legal pluralism in many countries. It argues that attempts to replace customary practices with uniform legal frameworks have largely failed,...

Judicial map reforms refer to an emerging stream of reform programs that attempts to improve the responsiveness of the justice system by adjusting the courts' location, size, and jurisdiction to demographic and socio-economic factors. Building on the World Bank's experience in supporting client...

This study examines the relationship between gender-related aid and legal frameworks governing women's economic opportunities. Using data from 116 countries (2009-2022), we analyze how significant (SGRA) and principal (PGRA) gender-related aid influence the Women, Business, and Law (WBL) Index,...

Seit Jahren sinkt die Zahl der tarifgebundenen Arbeitgeber kontinuierlich. Die 2022 verabschiedete Mindestlohnrichtlinie der Europäischen Union, die bis November 2024 von den Mitgliedstaaten umzusetzen ist, sieht für Mitgliedstaaten mit einer tariflichen Abdeckung von weniger als 80 Prozent...

This study employs China's judicial reform as a quasi-natural experiment to examine how judicial improvements affect corporate value. The findings reveal that: (1) compared with companies that were not affected by judicial reform, the market value of companies affected by judicial reform...

Kartellschadensersatzzahlungen erfordern eine angemessene Verzinsung, da der entstandene Schaden häufig lange zurückliegt. In Deutschland wird die Verzinsung dieser Ansprüche durch § 33a GWB in Verbindung mit §§ 288 und 289 BGB geregelt, wobei ein fixer Aufschlag von 5 % auf den...

This chapter, forthcoming in the Research Handbook on Law and Time (F. Fagan & S. Levmore eds., Edward Elgar 2024), offers a contribution to the economics of legal transition. It argues that the lawmaker should mitigate the burden generated by the risk of legal change by avoiding "extreme"...

Adequate budgeting of the judiciary is critical for the effective delivery of justice. This brief presents trends in judicial budgets. Courts account for less than 2 percent of total government expenditure on average, with significant portions dedicated to fixed costs such as salaries, thereby...

This note explores the use of technology to enhance the efficiency, transparency, and accessibility of judicial service delivery. It examines how technological solutions can support streamlining internal court processes, facilitate access for court users, and support the quality of judicial...

Small claims courts and procedures play an important role in enhancing the efficiency and accessibility of the justice system. When well-designed, they can significantly streamline judicial processes, reduce the burden on courts, and increase access to justice for individuals and small...

Die Arbeit überprüft die mit dem Zukunftsfinanzierungsgesetz (ZuFinG) vom 11. Dezember 2023 gebrachten Änderungen im aktienrechtlichen Kapitalerhöhungsrecht zur Erleichterung der Eigenkapitalaufnahme für deutsche Aktiengesellschaften. Nach einer Darstellung der Grundlagen werden zunächst...

This chapter systemically traces the notable rise of legal reforms for the adoption of anti-corruption corporate compliance programs in Latin America. Since 2009, nine countries in the region, including the seven largest economies, have embraced this strategy as part of their anti-corruption...

This paper studies a recent legal reform in Germany, which aims to lower commission rates of real estate agents by raising the cost salience of sellers. I find that the reform has backfired and real estate agents have exploited the transition to increase their commission rates. The findings...

Inheritance law is a family-oriented legal institution shaping how families transfer wealth across generations. This review discusses the main components of inheritance law (inheritance tax rate, and testamentary freedom), and how they impact business families. It also explores common strategies...

Felix Rützel’s assessment of algorithmic price discrimination focuses on the connections between various areas of law. By outlining the existing legal frameworks for each and pinpointing where changes need to be made in order to react to this pricing strategy, the author’s analysis offers...

Using the policy of unified management of local courts below the province, we found that the independence of the judiciary can significantly improve the success rate of firms in administrative litigation cases, promoting the corporate fixed assets investment rate. The positive influence of...

The Latin America and the Caribbean adolescent fertility rate is among the highest in the world: about 1.7 million children are born to teen mothers every year, and most of them are declared as being unintended pregnancies. The region also has the highest rate of unintended pregnancy of any...