Rule of law efforts in developing countries have had little success in achieving their goals of legal reform for the benefit of the majority. A new article by Kevin Davis and Michael Trebilcock provides an excellent summary review of the literature on point and concludes that, while we don't know which legal institutions are necessary for economic growth, we know that they are necessary in some form.
I just uploaded my latest working paper addressing one type of legal institution, informal legal mechanisms. It considers the contribution made by informal dispute resolution, contract enforcement, labor regulation and property titling, carried out largely in the informal economy in developing countries. The article is available here: http://ssrn.com/abstract=1144643.
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