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The Role of Legal Systems in Economic Growth
November 22, 2023
How does a country's legal system impact economic growth?
A well-functioning legal system that ensures property rights protection, contract enforcement, and rule of law is crucial for economic growth. It fosters investor confidence, encourages entrepreneurship, facilitates business transactions, and provides a framework for fair competition, promoting economic development. Conversely, weak legal systems may hinder growth by creating uncertainty and impeding business activities.
Tags : Legal System , Economic Growth