This book explores the objectives pursued in donor programs, the methods used to advance them, and the underlying assumptions and strategies. It emphasizes the unexpected and sometimes unpleasant consequences of ignoring not only political and societal constraints but also advances in our technical approaches to performance improvement, the one area where the First World has a comparative advantage. The geographic scope of the work is broad, incorporating examples from Eastern and Central Europe, Latin America, Africa, and the Asia-Pacific region as well as from several First World nations. Justice Reform and Development examines First World assistance to justice or "rule of law" reforms in developing and transitional societies, arguing that its purported failure is vastly exaggerated, largely because of unrealistic expectations as to what could be accomplished. Change nonetheless is needed if the programs are to continue and would be best based on targeting specific performance problems, incorporation of donor countries’ experience with their own reforms, and greater attention to relevant research. While contributing to an on-going debate among practitioners and academics involved in justice programs, this book will also be accessible to readers with little exposure to the topics, especially advanced undergraduate and graduate students in law, political science and areas studies.

This book examines the outcomes of the economic law reforms in Asian developing countries, guided by the leading international development financiers such as the World Bank and the Asian Development Bank. Included is a particular focus on the recent “insolvency law” reforms in the Asian emerging economies, such as Vietnam, Laos, and Myanmar. Such legal reforms are the results of the “transplant” of the model law provided by these donor agencies, a law that was created in the post-Asian Currency Crisis in the 1990s. This book therefore examines the outcomes of three decades of donor-guided legal reforms. Appropriately, it applies not only the static approach to the legal texts but also an empirical methodology through interview surveys of the corporate and financial sectors. Following the introduction in Chapter I, Chapter II reviews the basic theories and presents the methodological framework. Chapter III then analyzes the contents of insolvency law reforms in the major target countries, namely, Vietnam, Laos, and Myanmar. Chapter IV provides a closer investigation into the design choices of Myanmar’s 2020 Insolvency Law as a typical example of the law reform involving the inter-donor conflict of law models between the Asian Development Bank and Japan’s official development assistance project. Lastly, Chapter V applies an empirical approach to the functioning of insolvency law, through international collaboration for interview surveys with small and medium-sized enterprises (SMEs) and their financiers.

Asia’s demand for second-generation financial institutions and markets needs to be met in order for the region’s further development to be sustained. This book provides a compelling, fact-based assessment of current practices and regulations in Asia’s financial institutions and markets and carefully documents the exciting opportunities and challenges that lie ahead in the region’s financial systems. This book differs in design from typical treatments of financial institutions and markets because its focus is on Asia rather than using the US model (in terms of market configurations or products) as a benchmark, and its takes a contemporary and forward-looking view of financial markets. Examples of practice from Asia are used to illustrate major accepted themes in finance and financial regulation. To the extent that Asia’s main economies share characteristics that are distinct, for example, in the relationship between government and the banking sector, or in aspects of corporate governance, the book will discuss the consequences for market operation and intermediation. The book’s carefully structured facts and rigorously argued analysis carry important implications both for students in business and law and for professionals new to financial markets in Asia. It will change the way that Asian financial markets and institutions is taught in universities as well as provide a valuable resource for professionals working in finance in Asia.

China has recently entered a significant stage in its economic transition with the introduction of a new and seemingly sophisticated bankruptcy law drawing inspiration from mature insolvency systems. However, this new law is likely to face significant challenges within its implementation due to weaknesses in the countries legal and social infrastructure. China's New Enterprise Bankruptcy Law clearly presents the structure of China’s reformed legal bankruptcy system by introducing the framework and analyzing typical cases which have been or are being heard since the new bankruptcy law was operational. Written by Chinese experts with a professional interest and specialist knowledge of insolvency law, this volume serves as an indispensable guide for academics and researchers in the area, as well as practitioners and professionals involved with Chinese business law.

The use of indicators as a technique of global governance is increasing rapidly. Major examples include the World Bank's Doing Business Indicators, the World Bank's Good Governance and Rule of Law indicators, the Millennium Development Goals, and the indicators produced by Transparency International. Human rights indicators are being developed in the UN and regional and advocacy organizations. The burgeoning production and use of indicators has not, however, been accompanied by systematic comparative study of, or reflection on, the implications, possibilities, and pitfalls of this practice. This book furthers the study of these issues by examining the production and history of indicators, as well as relationships between the producers, users, subjects, and audiences of indicators. It also explores the creation, use, and effects of indicators as forms of knowledge and as mechanisms of making and implementing decisions in global governance. Using insights from case studies, empirical work, and theoretical approaches from several disciplines, the book identifies legal, policy, and normative implications of the production and use of indicators as a tool of global governance.

The World Bank Legal Review is a publication for policy makers and their advisers, attorneys, and other professionals engaged in the field of international development. It offers a combination of legal scholarship, lessons from experience, legal developments, and recent research on the many ways in which the application of the law and the improvement of justice systems promote poverty reduction, economic development, and the rule of law. In keeping with the theme of the World Development Report 2006: Equity and Development, and following the success of the World Bank Group’s Legal Forum on “Law, Equity, and Development” in December 2005, volume 2 of The World Bank Legal Review focuses on issues of equity and development. The volume draws together some of the key ideas of the Legal Forum, including articles by many of its distinguished participants, and explores the role of equity in the development process, highlighting how legal and regulatory frameworks and equitable justice systems can do much to level the playing field in the political, economic, and sociocultural domains, as well as how they can reinforce existing inequalities. Consistent with the interdisciplinary nature of this endeavour, Law, Equity and Development contains work by academics and practitioners in law, criminal justice, economics, human rights, social development, cultural studies, and anthropology.

Most readers, especially those with car loans or home mortgages, know about "collateral"--property that the lender can take away from the borrower in the event that the borrower defaults. In low/middle income countries, it is understood that conservative lenders exclude firms from credit markets with their excessive collateral requirements. Usually, this is because only some property is acceptable as collateral: large holdings of urban real estate and, sometimes, new motor vehicles. Microenterprises, SMEs, and the poor have little of this property but they do have an array of productive assets that could easily be harnessed to serve as collateral. It is only the legal framework which prevents firms from using these assets to secure loans. In countries with reformed laws governing collateral, property such as equipment, inventory, accounts receivable, livestock are considered excellent collateral. This book aims to better equip project managers to implement reforms to the legal and institutional framework for collateral (secured transactions). It discusses the importance of movable property as a source of collateral for firms, the relationship between the legal framework governing movable assets and the financial sector consequences for firms (better loan terms, increased access, more competitive financial sector), and how reforms can be put in place to change the lending environment.

The newly adopted post-2015 development agenda is centered on 17 sustainable development goals to be reached by 2030. This volume of the World Bank Legal Review looks at how law and justice systems can support the financing and implementation of these goals, including the role of the rule of law and economic and social rights. The contributors, including legal scholars, development practitioners, and financial experts, analyze the goals, explore ways in which they can be achieved, and examine ways that recent relevant law and justice programs have worked. A wide array of topics are covered, from the legal aspects of collecting and monitoring vital data, to improving legal identity programs, to creating innovative health care regulation, to legal and judicial reform, to providing private sector†“financing of public education projects to the provision of global public goods. Additionally, a special section on Europe looks at financial crisis management, enforcement of court decisions and the workings of the European Court of Justice. The opportunities and challenges of the 2030 agenda are many. This volume looks at both from multiple perspectives, demonstrating how sustainable development can go forward in a way in which everyone benefits.