The World Bank’s uses of the “rule of law”
promise in economic development
Alvaro Santos∗
INTRODUCTION
Law is at the center of development discourse and practice today .The idea that
the legal system is crucial for economic growth now forms part of the conventional wisdom in
development theory. This idea’s most common expression is
the “rule of law” (ROL): a legal order consisting of predictable, enforceable
and efficient rules required for a market economy to flourish. Enthusiasm for
law reform as a development strategy boomed during the 1990 sand resources
for reforming legal systems soared everywhere.