The Economic Foundations and Public Policy Implications of Legal Rules short-course will equip participants with the basic analytical tools for conducting an economic analysis of law.
In Vietnam, there is a vast gulf between "law on the shelf" and "law on the ground". This divide creates an uncertain legal environment deterring foreign investment,
encumbering the mobilization of domestic savings, and obstructing the private sector’s expansion. Despite steady economic growth resulting from sound policies like the Enterprise Law,
Vietnam’s private sector has produced few large firms with the investment capital required to compete in the global market. This a major concern as Vietnam begins to integrate into the
world economy in anticipation of its World Trade Organization accession. and obligations arising under the BTA and AFTA. Among scholars and international businessmen,
there is a widely shared perception that Vietnam’s private firms suffer from underdeveloped legal institutions which create an uncertain environment for
investment decisions.
The Economic Foundations and Public Policy Implications of Legal Rules short-course will focus on human capital development by providing individuals at mid and senior levels of the government and private sector with the analytical tools necessary for
operating in and improving upon Vietnam’s imperfect legal environment. Government officials will learn how consistent and transparent administrative decisions create significant social welfare gains by reducing business risk. Legal instructors will develop the capacity to
use economic reasoning in their teaching and will be exposed to the latest developments in international legal scholarship. Legislators will discover how properly designed legal rules can facilitate socially beneficial exchange, and will have the analytical tools to forecast
the economic impact of potential changes to legal rules. Practioners will hone their analytical skills and will develop an economic fluency critical for understanding technical legal issues. In sum, participants will leave The Economic Foundations and Public Policy Implications
of Legal Rules short-course with an understanding that law is a critical element of economic development, an ability to analyze legal policy within an economic framework, and the capacity to design legal rules, whether as a government official, legal instructor, legislator,
or practioner, that reduce the costs of doing business.
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