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Legal Systems and Economic Growth By Vadym Cemmasson and Dariane Dank. Legal Systems. Three major legal systems Civil Law (France, Germany, Italy, Brazil, Mexico, Russia) (80) Common Law (GB, USA (-Louisiana), Canada (- Quebec), Australia) (23)

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legal systems
Legal Systems
  • Three major legal systems
  • Civil Law (France, Germany, Italy, Brazil, Mexico, Russia) (80)
  • Common Law (GB, USA (-Louisiana), Canada (- Quebec), Australia) (23)
  • Religious Law (Afghanistan, Saudi Arabia, Maldives Islands) (4)
legal systems2
Legal Systems

Civil Law

  • The oldest and most widespread system of law in the world
  • Based on Roman law especially Corpus Juris Civilis (“Body of Civil Law”) -> compiled to the code under the Byzantine Emperor Justinian
  • Prominent example: Code Civil is the French Law Code established by Napoléon Bonaparte (Code Napoléon)
  • Civil law is interpreted by judges rather than developed or made by them
legal systems3
Legal Systems

Common Law

  • System of law whose sources are the decisions in cases by judges
  • Legislature passes new laws and statutes -> do not amend a collected and codified body of law
  • Developed in England and influenced by the Norman conquest of England (William the Conqueror)
  • Inherited by the Commonwealth of Nations (adopted by almost every former British colony)
  • Magna Carta -> fundamental document (limited on the power of the English Kings)
  • Stare decisis -> major difference to civil law system
legal systems4
Legal Systems

Religious Law

  • Refers to the notion of a religious system or document being used as a legal source
  • The use of Jewish Halakah for public law-> precluding amendment through legislative acts of government or development through judicial precedent
  • Christian Canon law is more similar to civil law
  • Islamic Sharia law is based on legal precedent and reasoning by analogy
legal systems5
Legal Systems

Pluralistic Law

  • Civil law and common law (Israel, Philippines)
  • Civil law and religious law (Iraq, Iran, Egypt)
  • Common law and religious law (India, Bangladesh)
legal systems6
Legal Systems

Comparative Law

The study of differences and similarities between the law in

different countries.

Separate branches of comparative law:

  • Constitutional law
  • Administrative law
  • Civil law
  • Commercial law
  • Criminal law
legal systems7
Legal Systems

International Law

The system of implicit and explicit agreements that bind

together nation-states in adherence to recognized values

and standards.

  • It primarily concerns states rather than private citizens
  • Public international law
  • Private international law
  • Supranational law
economic growth
Economic Growth
  • Common law countries tend to protect investors (directly) more than civil law countries

(shareholders value)

  • Civil law countries => adaptive protection mechanisms (indirect protection f.e. different accounting standards)

(stakeholder value)

„Law and Finance“,La Porta, Shleifer; Harvard University

average gni
Average GNI
  • Gross National Income(GNI) comprises the total value produced within a country (i.e. its Gross Domestic Product), together with its income received from other countries (notably interest and dividends), less similar payments made to other countries.
  • Legal Systems with civil law components: 6 449
  • Legal systems with common law components: 7 150
  • Legal systems with civil law and common law components: 11 948