Journal Article

Evolution of Corporate Law and the Transplant Effect: Lessons from Six Countries

Katharina Pistor, Yoram Keinan, Jan Kleinheisterkamp and Mark D. West

in The World Bank Research Observer

Published on behalf of World Bank

Volume 18, issue 1, pages 89-112
Published in print March 2003 | ISSN: 0257-3032
Published online March 2003 | e-ISSN: 1564-6971 | DOI: http://dx.doi.org/10.1093/wbro/lkg003
Evolution of Corporate Law and the Transplant Effect: Lessons from Six Countries

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The pattern of legal change in countries that have their legal systems transplanted from abroad differs markedly from countries that develop their own systems, irrespective of the legal family from which their laws come. In “transplant” countries, law often stagnates for long periods of time; when change takes place, it tends to be radical, if not erratic. External models remain dominant even years after the law was transplanted. Although there is some evidence that transplant countries have engaged in comprehensive legal reforms in response to the pressures of globalization, it is still too early to judge whether these new changes can be taken as a sign that the legal systems in these countries have started a process of endogenous legal evolution.

Journal Article.  0 words. 

Subjects: Development Planning and Policy

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