Trade and Harmonization : If Your Institutions are Good, Does it Matter if They are Different ?
Good institutional quality (function) and similar institutional design (form) can promote international trade by reducing transactions costs. The authors evaluate the relative importance of function versus form in a gravity model, using an indicator of different legal systems as a proxy for differen...
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| Format: | Policy Research Working Paper |
| Language: | English |
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World Bank, Washington, DC
2012
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| Online Access: | http://documents.worldbank.org/curated/en/2006/05/6762296/trade-harmonization-your-institutions-good-matter-different http://hdl.handle.net/10986/8678 |
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okr-10986-86782021-04-23T14:02:40Z Trade and Harmonization : If Your Institutions are Good, Does it Matter if They are Different ? Islam, Roumeen Reshef, Ariell AGRICULTURE AUTHORITY BILATERAL TRADE CIVIL LAW CIVIL LAW SYSTEMS COMMON LAW COMPARATIVE ADVANTAGE COMPETITION LAW CONSUMER PREFERENCES CONTROL CONTROL OF CORRUPTION CORRUPTION CUSTOMS CUSTOMS PROCEDURES DECENTRALIZATION ECONOMIC OUTCOMES ECONOMICS LITERATURE ELASTICITY EUROPEAN UNION EXPORTS EXTERNALITIES FACE VALUE FEDERALISM FINANCIAL SECTOR FREE TRADE GATT GDP GDP PER CAPITA GENERAL SYSTEM OF PREFERENCES GOVERNMENT SUBSIDIES INDUSTRIALIZED COUNTRIES INFORMAL INSTITUTIONS INTELLECTUAL PROPERTY INTELLECTUAL PROPERTY RIGHTS INTERNATIONAL AGREEMENTS INTERNATIONAL TRADE LANDLOCKED COUNTRIES LAWS LEGAL DEVELOPMENT LEGAL LITERATURE LEGAL PROCEDURES LEGAL RECOURSE LEGAL SYSTEM LEGAL SYSTEMS LEGISLATION LESS DEVELOPED COUNTRIES MARKET ACCESS MARKET SHARE POLICY RESEARCH POSITIVE EFFECTS PRICE LEVELS PRIVATE PROPERTY PROPERTY RIGHTS QUALITY REDISTRIBUTION REGIONAL TRADE REGIONAL TRADE AGREEMENTS SHIPMENTS SUFFICIENT EVIDENCE SYSTEM OF PREFERENCES TRADE AGREEMENTS TRADE FLOWS TRANSACTIONS COSTS TRANSITION ECONOMIES WTO Good institutional quality (function) and similar institutional design (form) can promote international trade by reducing transactions costs. The authors evaluate the relative importance of function versus form in a gravity model, using an indicator of different legal systems as a proxy for differences in form, together with indicators of overall institutional quality. They find that good institutions promote trade much more than similar legal systems and have much more explanatory power. This effect is economically large-up to 10 times the effect of different legal systems. Moreover, better infrastructure matters as much as good institutions. 2012-06-21T18:04:58Z 2012-06-21T18:04:58Z 2006-05 http://documents.worldbank.org/curated/en/2006/05/6762296/trade-harmonization-your-institutions-good-matter-different http://hdl.handle.net/10986/8678 English Policy Research Working Paper; No. 3907 CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo/ World Bank World Bank, Washington, DC Publications & Research :: Policy Research Working Paper Publications & Research |
| repository_type |
Digital Repository |
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Foreign Institution |
| institution |
Digital Repositories |
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World Bank Open Knowledge Repository |
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World Bank |
| language |
English |
| topic |
AGRICULTURE AUTHORITY BILATERAL TRADE CIVIL LAW CIVIL LAW SYSTEMS COMMON LAW COMPARATIVE ADVANTAGE COMPETITION LAW CONSUMER PREFERENCES CONTROL CONTROL OF CORRUPTION CORRUPTION CUSTOMS CUSTOMS PROCEDURES DECENTRALIZATION ECONOMIC OUTCOMES ECONOMICS LITERATURE ELASTICITY EUROPEAN UNION EXPORTS EXTERNALITIES FACE VALUE FEDERALISM FINANCIAL SECTOR FREE TRADE GATT GDP GDP PER CAPITA GENERAL SYSTEM OF PREFERENCES GOVERNMENT SUBSIDIES INDUSTRIALIZED COUNTRIES INFORMAL INSTITUTIONS INTELLECTUAL PROPERTY INTELLECTUAL PROPERTY RIGHTS INTERNATIONAL AGREEMENTS INTERNATIONAL TRADE LANDLOCKED COUNTRIES LAWS LEGAL DEVELOPMENT LEGAL LITERATURE LEGAL PROCEDURES LEGAL RECOURSE LEGAL SYSTEM LEGAL SYSTEMS LEGISLATION LESS DEVELOPED COUNTRIES MARKET ACCESS MARKET SHARE POLICY RESEARCH POSITIVE EFFECTS PRICE LEVELS PRIVATE PROPERTY PROPERTY RIGHTS QUALITY REDISTRIBUTION REGIONAL TRADE REGIONAL TRADE AGREEMENTS SHIPMENTS SUFFICIENT EVIDENCE SYSTEM OF PREFERENCES TRADE AGREEMENTS TRADE FLOWS TRANSACTIONS COSTS TRANSITION ECONOMIES WTO |
| spellingShingle |
AGRICULTURE AUTHORITY BILATERAL TRADE CIVIL LAW CIVIL LAW SYSTEMS COMMON LAW COMPARATIVE ADVANTAGE COMPETITION LAW CONSUMER PREFERENCES CONTROL CONTROL OF CORRUPTION CORRUPTION CUSTOMS CUSTOMS PROCEDURES DECENTRALIZATION ECONOMIC OUTCOMES ECONOMICS LITERATURE ELASTICITY EUROPEAN UNION EXPORTS EXTERNALITIES FACE VALUE FEDERALISM FINANCIAL SECTOR FREE TRADE GATT GDP GDP PER CAPITA GENERAL SYSTEM OF PREFERENCES GOVERNMENT SUBSIDIES INDUSTRIALIZED COUNTRIES INFORMAL INSTITUTIONS INTELLECTUAL PROPERTY INTELLECTUAL PROPERTY RIGHTS INTERNATIONAL AGREEMENTS INTERNATIONAL TRADE LANDLOCKED COUNTRIES LAWS LEGAL DEVELOPMENT LEGAL LITERATURE LEGAL PROCEDURES LEGAL RECOURSE LEGAL SYSTEM LEGAL SYSTEMS LEGISLATION LESS DEVELOPED COUNTRIES MARKET ACCESS MARKET SHARE POLICY RESEARCH POSITIVE EFFECTS PRICE LEVELS PRIVATE PROPERTY PROPERTY RIGHTS QUALITY REDISTRIBUTION REGIONAL TRADE REGIONAL TRADE AGREEMENTS SHIPMENTS SUFFICIENT EVIDENCE SYSTEM OF PREFERENCES TRADE AGREEMENTS TRADE FLOWS TRANSACTIONS COSTS TRANSITION ECONOMIES WTO Islam, Roumeen Reshef, Ariell Trade and Harmonization : If Your Institutions are Good, Does it Matter if They are Different ? |
| relation |
Policy Research Working Paper; No. 3907 |
| description |
Good institutional quality (function) and similar institutional design (form) can promote international trade by reducing transactions costs. The authors evaluate the relative importance of function versus form in a gravity model, using an indicator of different legal systems as a proxy for differences in form, together with indicators of overall institutional quality. They find that good institutions promote trade much more than similar legal systems and have much more explanatory power. This effect is economically large-up to 10 times the effect of different legal systems. Moreover, better infrastructure matters as much as good institutions. |
| format |
Publications & Research :: Policy Research Working Paper |
| author |
Islam, Roumeen Reshef, Ariell |
| author_facet |
Islam, Roumeen Reshef, Ariell |
| author_sort |
Islam, Roumeen |
| title |
Trade and Harmonization : If Your Institutions are Good, Does it Matter if They are Different ? |
| title_short |
Trade and Harmonization : If Your Institutions are Good, Does it Matter if They are Different ? |
| title_full |
Trade and Harmonization : If Your Institutions are Good, Does it Matter if They are Different ? |
| title_fullStr |
Trade and Harmonization : If Your Institutions are Good, Does it Matter if They are Different ? |
| title_full_unstemmed |
Trade and Harmonization : If Your Institutions are Good, Does it Matter if They are Different ? |
| title_sort |
trade and harmonization : if your institutions are good, does it matter if they are different ? |
| publisher |
World Bank, Washington, DC |
| publishDate |
2012 |
| url |
http://documents.worldbank.org/curated/en/2006/05/6762296/trade-harmonization-your-institutions-good-matter-different http://hdl.handle.net/10986/8678 |
| _version_ |
1764406117802180608 |