Proceedings of the International Conference on Law, Economics and Health (ICLEH 2020)

Increasing Economic Performance Through the Rule of Law in Indonesia: Law and Economics Perspective

Authors
Fajar Sugianto, Stevinell Mildova, Felicia Christina Simeon
Corresponding Author
Fajar Sugianto
Available Online 20 May 2020.
DOI
10.2991/aebmr.k.200513.019How to use a DOI?
Keywords
law and economics, efficiency, rule of law
Abstract

In the globalisation era, laws are forced and challenged to be able to adapt. Not only from economists, but lawyers also are hungry for the primacy of efficiency and start to duplicate the way most economists think, such as, in explicating efficiency and progressiveness of the rule of law. From law and economics perspectives, the rule of law shall provide clarification in order to improve its practices. The general theory is that law is best viewed as a social tool that promotes economic efficiency. With economic approach, efficiency is an ideal model that guides legal practice. In terms of the rule of law, law and economics considers how efficient rules produce the quality of law. This writing has answered three issues: first, how rationality affects people’s behaviour within legal situations. Second, how collective behaviour should have effect on legal rules. Third, understanding and planning strategic actions in the legal context.Since all economic activities regulated by the law, therefore, Indonesian laws need to promote economic efficiency in at least two ways: structure the law in order to remove impediments that encourages private bargaining; and structure the law to minimise the harm caused by failures in private bargaining.

Copyright
© 2020, the Authors. Published by Atlantis Press.
Open Access
This is an open access article distributed under the CC BY-NC license (http://creativecommons.org/licenses/by-nc/4.0/).

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Volume Title
Proceedings of the International Conference on Law, Economics and Health (ICLEH 2020)
Series
Advances in Economics, Business and Management Research
Publication Date
20 May 2020
ISBN
10.2991/aebmr.k.200513.019
ISSN
2352-5428
DOI
10.2991/aebmr.k.200513.019How to use a DOI?
Copyright
© 2020, the Authors. Published by Atlantis Press.
Open Access
This is an open access article distributed under the CC BY-NC license (http://creativecommons.org/licenses/by-nc/4.0/).

Cite this article

TY  - CONF
AU  - Fajar Sugianto
AU  - Stevinell Mildova
AU  - Felicia Christina Simeon
PY  - 2020
DA  - 2020/05/20
TI  - Increasing Economic Performance Through the Rule of Law in Indonesia: Law and Economics Perspective
BT  - Proceedings of the International Conference on Law, Economics and Health (ICLEH 2020)
PB  - Atlantis Press
SP  - 92
EP  - 99
SN  - 2352-5428
UR  - https://doi.org/10.2991/aebmr.k.200513.019
DO  - 10.2991/aebmr.k.200513.019
ID  - Sugianto2020
ER  -