Abstract
This article makes the case for developing law and macro-finance as an integrated research field that explores the role of credit and its regulation within the economic cycle. It highlights the importance of macro-financial conditions, such as leverage and liquidity, over traditional concerns like agency costs and efficiency when assessing the economic impact of the law. The article argues that the future of law and macro-finance research should focus on demonstrating (1) how the law operates under different macro-financial conditions, (2) how the law can shape these conditions, and (3) how these conditions influence legal frameworks. This research is partly inspired by, and could also be valuable for, organizations like the World Bank and IMF, which increasingly acknowledge the role of debt in financial crises and are beginning to promote policies that help countries better align the size of their credit markets with their economic needs.
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Artikel in diesem Heft
- Frontmatter
- Articles
- Government Supervision of Oil Palm Plantations in Indonesia: Legal Issues and Proposed Remedies
- How Democratic Police Reforms Fail: A Law and Development Perspective on Institutional Processes of Change and Resistance
- Sustainable Development Under AfCFTA: Dimensions, Limitations and Prospects
- Asset Recovery via Non-Conviction based Forfeiture: Rationale for Regulation and Recommendations for Implementation in Vietnam
- Law and Macro Finance
- Modernization of Nigeria’s Mining Industry: The Case for Participation and Sustainable Development of Local Communities
- Human Capital and Growth in Arctic Regional Economies: Evidence, Policies and Institutional Perspectives
- Notes
- Advancing New Governance Models for Gender Data in Climate Resilience Funding