Myths and Truths: The "Law and Finance Theory" Revisited

The law and finance theory identifies two dominating legal traditions, a common law tradition inherited from England, and a civil law tradition that is going back to 19th century codifications in France, Germany and Scandinavia. Another key notion of the theory is the distinction between insiders (stakeholders, "the State") and outsiders (shareholders as well as creditors). The micro foundation of this approach is the willingness to invest. The innovative addition of the law and finance theory to these ideas lies in the way it combines them with its peculiar view on legal history. The innovative addition of the law and finance theory to these ideas lies in the way it combines them with its peculiar view on legal history. The major conclusion of this theory is that the common law system provides the best basis for financial development and economic growth, followed by Scandinavian and German origin civil law and finally French origin civil law.

Who made the final decision?: Social characteristics and initiator status of marriage breakdown

In this lecture presented in August 2005, Belinda Hewitt from the University of Queensland discussed the findings from a report she co-authored with Associate Professor Mark Western and Professor Janeen Baxter from the University of Queensland Social Research Centre on the relationship between social characteristics that have been found to be associated with marriage breakdown and the initiator status of separation.

Who are the new two earner households?

This paper is an analysis of the characteristics of two earner households in which both partners are in full-time employment and there are young dependent children. ABS data show that this household type has increased substantially over the last two decades. The paper uses the HILDA data to investigate the demographic and social characteristics of this group and the differences between them and the more traditional breadwinner household forms. The aim is to understand what characteristics encourage couples with dependent children to pursue full-time employment compared to couples who opt for other strategies. The paper uses a combination of descriptive methods and statistical modeling to identify socioeconomic and attitudinal differences amongst couples. The findings are discussed in light of recent policy directions that encourage women with young children to remain at home or to work part-time.

Who creates the jobs?

Small business start-ups create most of the new jobs in our economy. It is an attractive argument to those who want governments to support small businesses. But is it true? Or are large firms the ones that generate most jobs? Michael Anyadike-Danes, Mark Hart and Karen Bonner examine a long-running and acrimonious dispute.