From Institutional Law And Economics To Economic Analysis Of Law

Law and economics is the important development in legal theory in the late 20th century. Whether it belongs to economics or legal subject is still a question. It is in a heat discussion. From the point of transformation of its paradigm, the author points out that law and economics has turned into an independent legal subject. At present, the study of law and economics is at the translation and introduction of foreign works in this field. Scholars and experts seldom study it in a whole view. Based on the understanding of relative works of law and economics, the author analyzes the process. The author holds up the view that the process of law and economics can be divided into two stages: the first stage is the institutional law and economics, which is mainly concerned with institutional logic of economy. It seldom concerns with legal values and just concerns with functions of institution to promotion of economic efficiency. It pertains to economics. The second stage is economic analysis of law, which is mainly concerned with economic logic of law. The goal of it is to solve legal issues. It key goal is to probe legal values and pertains to legal science. The second stage succeeded to the first stage. The dissertation is mainly concerned with the transformation from institutional law and economics to economic analysis of law and analyzes the causes in history and logic.