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Yuniwati Yuniwati, Yuniwati
Jurusan Ilmu Perpustakaan, Fakultas Ilmu Budaya, Universitas Diponegoro.
Humanities Computer Science & IT Decision Sciences, Operations Research & Management Economics, Econometrics & Finance Education Health Professions Languange, Linguistic, Communication & Media Law, Crime, Criminology & Criminal Justice Library & Information Science Mathematics Public Health Social Sciences Other

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Normative Approach to Law and Economics in Developing Countries: Challenges in Establishing Efficient and Just Market Regulations Meitasari, Intan; Suratno, Suratno; Yuniwati, Yuniwati
Journal of Law and Economics Vol. 4 No. 2 (2025): NOVEMBER
Publisher : Yayasan Kawanad

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.56347/jle.v4i2.373

Abstract

Market regulation in developing economies confronts a fundamental dilemma: how to achieve allocative efficiency without sacrificing distributive justice. Drawing on normative–empirical analysis of legal materials, policy frameworks, and comparative data from Indonesia, India, and Brazil, the research exposes persistent friction between growth-maximizing policies and principles of equity, legal certainty, and institutional legitimacy. Regulatory systems across these jurisdictions consistently favor efficiency metrics while sidelining distributional consequences—a pattern that widens socioeconomic gaps and weakens public confidence in state institutions. Countries with stronger legal infrastructures and mature normative traditions demonstrate greater capacity to embed justice considerations within economic governance. The study proposes a law–economics model where legal normativity operates not as ancillary to economic logic but as foundational to regulatory design, anchoring policy in fairness, predictability, and collective welfare. Theoretically, the work recasts law's dual role as both boundary and catalyst in economic systems. Practically, it outlines strategies for enhancing regulatory clarity, institutional responsibility, and policy credibility in developing settings—charting routes to prosperity that do not undermine social solidarity.
Co-Authors Ahmad Muzaki Nurdin, Ahmad Muzaki Anwar, Mashuril Besti Lilyana, Besti Delli Maria Dian Mustika Fadhilah, Alif Vinita handoyo widi nugroho Jaka Darmawan Laurensius Salem Lumamuly, Arianti Natalia Martono Martono Meiliana, Reva Meitasari, Intan Nolita Yeni Siregar, Nolita Yeni Omega, Jessica Anatasya Ramadhaniyah, Rieka SRI RAHAYU Suratno Suratno Zatika, Dinda Anna Zulfikar Ali, Zulfikar