The Private Sector in Economic Development (LAW278H1F)

Note: This course is complementary to Law, Institutions and Development [LAW243H1S] and neither is a pre-requisite to the other.

This seminar will examine the role of the private sector in economic development from a legal and institutional perspective. With global economic integration, the role of government has increasingly been seen as creating an enabling environment that allows the private sector to act as the primary agent of growth. Governments create that enabling environment through the enactment of laws and the creation of institutions to implement, administer and enforce those laws. The course will begin by examining the legal and institutional implications of a range of theories regarding the relative roles of the public and private sectors. It will then examine some of the persistent problems facing countries making the transition from colonial or communist regimes to market economies. The majority of the classes will focus upon the specific laws and institutions in five areas that allow for effective private sector activity: human capital development; foreign direct investment; information technology adoption; entrepreneurship; and business finance. Classes will also be devoted to the process of creating effective institutions and a case study.