Does Rule of Law Affect Economic Growth Positively

  title={Does Rule of Law Affect Economic Growth Positively},
  author={Asli Ozpolat and Gulsum Gunbala Guven and Ferda Nakipoglu Ozsoy and Ayşe D{\"u}riye Bahar},
  journal={Research in World Economy},
Efficient institutional structure resolves the uncertainties in the market and the problem of asymmetric information, and thus creates a positive exogeneity, ensures the efficient distribution of the resources and makes a positive impact on the functioning of the economy. In addition to this, especially rule of law forms the basis of the socio-economic development. In the presence of the factors such as prevention of corruption and freedom of expression, institutional structure has a… 

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The Institutional Framework and Economic Development
  • G. Scully
  • Economics
    Journal of Political Economy
  • 1988
The compound growth rates of per capita output and Farrell-type efficiency measures for 115 market economies over the period 1960-80 were compared with measures of political, civil, and economic