Law and Long-Term Economic Change: A Eurasian Perspective (Stanford Economics and Finance)

Recently, a growing body of work on "law and finance" and "legal origins" has highlighted the role of formal legal institutions in shaping financial institutions. However, these writings have focused largely on Europe, neglecting important non-Western traditions that prevail in a large part of the world. Law and Long-Term Economic Change brings together a group of leading scholars from economics, economic history, law, and area studies to develop a unique, global and, long-term perspective on the linkage between law and economic change.Covering the regions of Western Europe, East and South Asia, and the Middle East, the chapters explore major themes regarding the nature and evolution of different legal regimes; their relationship with the state or organized religion; the definition and interpretation of ownership and property rights; the functioning of courts, and other mechanisms for dispute resolution and contract enforcement; and the complex dynamics of legal transplantations through processes such as colonization. The text makes clear that the development of legal traditions and institutions—as embodiments of cultural values and norms—exerts a strong effect on long-term economic change. And it demonstrates that a good understanding of legal origins around the world enriches any debate about Great Divergence in the early modern era, as well as development and underdevelopment in 19th-20th century Eurasia. This Title Develops A Global And Long-term Perspective On The Linkage Between Law And Economic Change. Covering Western Europe, East And South Asia, And The Middle East, It Explores The Evolution Of Different Legal Regimes; Their Relationship With The State Or Organized Religion; The Definition Of Ownership, And Much More. Law And Long-term Economic Change : An Editorial Introduction / Debin Ma And Jan Luiten Van Zanden -- The Evolution Of Law : Political Foundations Of Private Law In Medieval Europe And Japan / John Haley -- Law And Economy In Traditional China : A Legal Origin Perspective On The Great Divergence / Debin Ma -- Property Rights, Land And Law In Imperial China / Mio Kishimoto -- Contracts, Property Rights, And Litigation : Intermediation And Adjudication In The Huizhou Region (anhui) In Sixteenth-century China / Harriet Zurndorfer -- Law And Economic Change In India : 1600-1900 / Tirthankar Roy -- Land And Law In Colonial India / Anand Swamy -- The Political Economy Of Law And Economic Development In Islamic History / Metin M. Coşgel -- Islamic Legal Institutions Of Contracts And Courts : A Comparative Perspective / Miura Toru -- Bankruptcy Laws : Part Of Global History / Jérôme Sgard -- Debt Litigation In Medieval Holland, 1200-1350 / Jessica Dijkman -- The Resolution Of Commercial Conflicts In Bruges, Antwerp, And Amsterdam (1250-1650) / Oscar Gelderblom -- The Portuguese Judicial System In The Nineteenth Century : Rules, Risks, And Judges / Jaime Reis -- The Evolution Of Self And State Regulation Of The London Stock Exchange, 1688-1878 / Larry Neal -- British Legal Institutions And Transaction Costs In The Early Transport Revolution / Dan Bogart. Edited By Debin Ma And Jan Luiten Van Zanden. Includes Bibliographical References And Index. Contents......Page 6 List of Figures......Page 8 List of Tables......Page 10 Contributors......Page 12 1. Law and Long-Term Economic Change: An Editorial Introduction......Page 18 2. The Evolution of Law: Political Foundations of Private Law in Medieval Europe and Japan......Page 36 3. Law and Economy in Traditional China: A “Legal Origin” Perspective on the Great Divergence......Page 63 4. Property Rights, Land, and Law in Imperial China......Page 85 5. Contracts, Property, and Litigation: Intermediation and Adjudication in the Huizhou Region (Anhui) in Sixteenth-Century China......Page 108 6. Law and Economic Change in India, 1600–1900......Page 132 7. Land and Law in Colonial India......Page 155 8. The Political Economy of Law and Economic Development in Islamic History......Page 175 9. Islamic Legal Institutions of Contracts and Courts: A Comparative Perspective......Page 195 10. Bankruptcy Laws: East versus West......Page 215 11. Debt Litigation in Medieval Holland, 1200– 1350......Page 238 12. The Resolution of Commercial Conflicts in Bruges, Antwerp, and Amsterdam (1250– 1650)......Page 261 13. The Portuguese Judicial System in the Nineteenth Century: Rules, Risks, and Judges......Page 294 14. The Evolution of Self- and State Regulation of the London Stock Exchange, 1688– 1878......Page 317 15. British Legal Institutions and Transaction Costs in the Early Transport Revolution......Page 340 Index......Page 360 Recently, a growing body of work on "law and finance" and "legal origins" has highlighted the role of formal legal institutions in shaping financial institutions. However, these writings have focused largely on Europe, neglecting important non-Western traditions that prevail in a large part of the world. Law and Long-Term Economic Change brings together a group of leading scholars from economics, economic history, law, and area studies to develop a unique, global and, long-term perspective on the linkage between law and economic change. Covering the regions of Western Europe, East and South Asia, and the Middle East, the chapters explore major themes regarding the nature and evolution of different legal regimes; their relationship with the state or organized religion; the definition and interpretation of ownership and property rights; the functioning of courts, and other mechanisms for dispute resolution and contract enforcement; and the complex dynamics of legal transplantations through processes such as colonization. The text makes clear that the development of legal traditions and institutions--as embodiments of cultural values and norms--exerts a strong effect on long-term economic change. And it demonstrates that a good understanding of legal origins around the world enriches any debate about Great Divergence in the early modern era, as well as development and underdevelopment in 19th-20th century Eurasia Law and long-term economic change : an editorial introduction / Debin Ma and Jan Luiten van Zanden The evolution of law : political foundations of private law in medieval Europe and Japan / John O. Haley Law and economy in traditional China : a "legal origin" perspective on the great divergence / Debin Ma Property rights, land, and law in imperial China / Mio Kishimoto Contracts, property, and litigation : intermediation and adjudication in the Huizhou Region (Anhui) in sixteenth-century China / Harriet T. Zurndorfer Law and economic change in India : 1600-1900 / Tirthankar Roy Land and law in colonial India / Anand V. Swamy The political economy of law and economic development in Islamic history / Metin M. Coşgel Islamic legal institutions of contracts and courts : a comparative perspective / Miura Toru Bankruptcy laws : East versus West / Jérôme Sgard Debt litigation in medieval Holland, 1200-1350 / Jessica Dijkman The resolution of commercial conflicts in Bruges, Antwerp, and Amsterdam (1250-1650) / Oscar Gelderblom The Portuguese judicial system in the nineteenth century : rules, risks, and judges / Jaime Reis The evolution of self and state regulation of the London Stock Exchange, 1688-1878 / Larry Neal British legal institutions and transaction costs in the early transport revolution / Dan Bogart. Contents 6 List of Figures 8 List of Tables 10 Contributors 12 1. Law and Long-Term Economic Change: An Editorial Introduction 18 2. The Evolution of Law: Political Foundations of Private Law in Medieval Europe and Japan 36 3. Law and Economy in Traditional China: A “Legal Origin” Perspective on the Great Divergence 63 4. Property Rights, Land, and Law in Imperial China 85 5. Contracts, Property, and Litigation: Intermediation and Adjudication in the Huizhou Region (Anhui) in Sixteenth-Century China 108 6. Law and Economic Change in India, 1600–1900 132 7. Land and Law in Colonial India 155 8. The Political Economy of Law and Economic Development in Islamic History 175 9. Islamic Legal Institutions of Contracts and Courts: A Comparative Perspective 195 10. Bankruptcy Laws: East versus West 215 11. Debt Litigation in Medieval Holland, 1200– 1350 238 12. The Resolution of Commercial Conflicts in Bruges, Antwerp, and Amsterdam (1250– 1650) 261 13. The Portuguese Judicial System in the Nineteenth Century: Rules, Risks, and Judges 294 14. The Evolution of Self- and State Regulation of the London Stock Exchange, 1688– 1878 317 15. British Legal Institutions and Transaction Costs in the Early Transport Revolution 340 Index 360 0804772738,9780804772730 Stanford University Press 2011 This edited volume provides a unique multidisciplinary perspective on the relationship between legal regimes and long-term economic development across major civilizations in Eurasia.