Economic Analysis of India Law in India

by Raja, Angara; Babu, P. G.; Eger, Thomas; Schafer, Hans-Bernd; Somashekhar, T. S.

• ISBN13: 9780198060567
• ISBN10: 0198060564
• Format: Hardcover
• Copyright: 2010-07-01
• Publisher: Oxford University Press

Summary

Economic Analysis of India Law in Indiais an exciting collection from the truly interdisciplinary academic field known as 'law and economics'. As is well known, economic development in India has been phenomenal since the early 1990s, when began the period of liberalization and globalization. The editors of this volume contend that India is one of the few large developing countries where the law in action, adjudicated by judges and enforced by the state, plays a crucial and increasingly important role, despite certain well-known shortcomings. The increasing complexity of the economy as also growing connectivity with trade and financial networks worldwide have led to more and more 'anonymous transactions'. In these circumstances it becomes necessary to make the law stronger, more relevant, responsive, and functional. Some of the essays in this book focus exclusively on India. However, all issues covered in the text are of particular interest to the country and those practicing law in India. The issues include financial institutions and the importance of regulation, the 'double trust' dilemma, regulatory gaps, accident law and environmental problems, social cost minimization and the negligence rule, the low compliance trap and corruption, the new patents regime and its impact on innovation, and the judiciary's role in the efficient enforcement of law.

Author Biography

Angara Raj is a Professor in the Dept of Economics at the School of Social Sciences, University of Hyderabad.

P. G. Babu is a Professor at the Indira Gandhi Institute of Development Research (IGIDR), Mumbai and Adam Smith Guest Professor of Philosophy and Economics at the University of Bayreuth, Germany.

Thomas Eger is a Professor of Law and Economics at the University of Hamburg and the Managing Director of the Institute of Law and Economics.

Hans-Bernd Schafer is a Professor of Law and Economics at the Bucerius Law School, Hamburg. He is also the Founder of the Institute of Law and Economics at the University of Hamburg.

T. S. Somashekhar is an Assistant Professor at the National Law School of India University, Bangalore.