Legal Framework analysis for rural and agricultural investment projects: Concepts and Guidelines
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In recent years, growing attention has centred on the role of law and legal institutions in development. This has coincided with a profound shift in thinking about the role of the state, and a reorientation of governance strategies towards the creation of suitable enabling environments for greater private and local initiative. Good laws and functioning legal institutions are essential contributors to the predictability, security and flexibility needed to define such environments. Conve rsely, poorly designed and implemented laws can constrain and inhibit investment, distort economic incentives and discourage appropriate government interventions.