The Quality of the Legal System and Labor Market Performance around the World

Reference:

Feldmann, H., 2009. The Quality of the Legal System and Labor Market Performance around the World. Working Paper. Bath, UK: Department of Economics, University of Bath. (Bath Economics Research Working Papers; 12/09)

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Official URL:

http://www.bath.ac.uk/economics/research/workingpapers.html

Abstract

Using data on 75 countries for six years in the period 1995 to 2003, this paper analyzes empirically whether and to what extent the quality of the legal system affects the performance of the labor market. According to the regression results, a legal system characterized by a dependent judiciary, biased courts, a lack of intellectual property protection and a lack of integrity increases unemployment and lowers the employment level. The magnitude of the effect seems to be substantial, particularly among young people.

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