The Costs of Complexity

Burbank, Stephen B.; Marcus, Richard L.; Sherman, Edward F.

doi:10.2307/1289061

Cited by 5 publications

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“…This shape of marginal costs of negative co‐ordination externality is the same as that employed in a theoretical model on this issue by Klibanoff and Morduch (), but also Kaplow () and Burbank () assume rising costs of regulatory complexity. Despite the previous theoretical analyses, the non‐linearity of the relationship between the indicator of legislative complexity and the external costs of legislative complexity emerges naturally in our framework, in consideration of the fact that the four sources of law production operate without any co‐ordination ex ante , and the relation among them is so complicated that it cannot be represented graphically, because each value of regulatory complexity index (aci) could be potentially identified in a four dimensions space.…”

Section: The Institutional Framework and Its Implications For Theory mentioning

confidence: 82%

Institutional quality and the growth rates of the Italian regions: The costs of regulatory complexity

Vita

2018

Papers in Regional Science

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In this paper we study the impact of regulatory complexity, a measure of institutional quality, on the GDP, on per capita income and on the growth rate of the Italian regions. For comparative reasons we also use the duration of civil disputes as a further indicator of institutional quality used in the regressions as an alternative to the indicator of regulatory complexity. From the theoretical point of view, we use the approach of negative co‐ordination externalities, among the four sources of regulatory production that are at work at the same time. Our approach may be applied in all the countries with a multi‐level government system. Using the random effects and quantile regressions models we are able to quantify the effects of an improvement in institutional quality on the GDP and the growth rate, making a comparison between the results obtained using regulatory complexity or the duration of civil disputes as covariates. We also check for spatial dependence among variables. Econometric analysis supports the theoretical assumption that regulatory complexity is an impediment to the growth of regional GDP and per capita income. The main finding of our analysis is that a reduction in regulatory complexity would be more effective than a reduction in the duration of civil disputes in increasing the income and growth rate. This result could be useful for the policy‐maker because by reducing regulatory complexity we may obtain a considerable by‐product in the shorter duration of civil disputes.

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Section: The Institutional Framework and Its Implications For Theory mentioning

confidence: 82%

Institutional quality and the growth rates of the Italian regions: The costs of regulatory complexity

Vita

2018

Papers in Regional Science

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Is legislation grease or sand to economic growth? An econometric analysis using data from Italian regions before and after the 2008 crisis

Vita

Ferrante

2021

Eur J Law Econ

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Equity, Imagination and Contested Narratives

Kirk-Smith

2023

Liverpool Law Rev

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Justice and the idea of the moral good pervade legal philosophy and underlie much of legal practice in different contexts. They are particularly resonant in the law of equity and the remedies it makes available. This article uses equity and conceptions of justice explores the role of narratives, fairness and values through the lens of the constructive trust, science fiction, temporality, the counterfactual imagination and creativity. This special edition’s theme of intersectionalities within law is a central analytical thread. Power dynamics and the place of equity in social dialogues around justice and fairness are set alongside socioeconomic vulnerability and othering in understanding how the law succeeds and fails in managing emerging inequalities. A lack of autonomy and voicelessness is often revealed through constrained access to law and legal services, as well as a more vulnerable relationship with time. Engaging the constructive trust provides interesting opportunities to examine the role of the trust within law, and through that explore wider discussions about the nature of legal systems and the remedies they may give rise to. Science fiction has always provided opportunities to create counterfactual worlds and engage hypothetical questions, many of which might illuminate contemporary debates or resonate forward to emerging concerns. Imagination is a central tenet of these worlds, as well as, increasingly, within law when faced with emerging technologies and the issues they present. The article concludes with an acknowledgement that such narratives and opportunities to question social norms can be a valuable tool in grounding societal change.

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The Costs of Complexity

Cited by 5 publications

References 0 publications

Institutional quality and the growth rates of the Italian regions: The costs of regulatory complexity

Institutional quality and the growth rates of the Italian regions: The costs of regulatory complexity

Is legislation grease or sand to economic growth? An econometric analysis using data from Italian regions before and after the 2008 crisis

Equity, Imagination and Contested Narratives

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