Economic limits of (de)regulation in legal services market
Mlinarič, Franjo ; Oplotnik, Žan ; Brezovnik, Boštjan
Deregulation of professional services is universally praised for assisting lower prices, higher quality, and faster innovation pace benefiting the public. However, major authorities in economic ...science (from A. Smith to R. Coase) agreed that efficient regulation is needed to reduce frictions and promote trade. Particularly legal services demonstrate numerous forms of inefficiencies, requiring a thorough microeconomic evaluation before optimising the regulation. The highly polarised market is split in two segments with regulation mostly needed at its bottom. Our longitudinal study of Slovenian legal offices population mainly rejects the private capture hypothesis and exposes political risks of regulation, which might lead to the "tragedy of commons". Imposed lawyerʹs tariff freeze since 2003 paradoxically hurts the pillars of a network warranting physical and economic accessibility of legal services for most vulnerable groups. We estimate that the lawyerʹs tariff in Slovenia is undervalued almost by half, but only a slow increase can be expected due to political costs and fiscal effects. Dismal perspectives for lawyerʹs profession divert capable new entrants to start the career, causing long-term gap in labour supply. Thus, we concentrated on modelling the minimum requirements for a financially viable network coverage in order to support positive externalities.
It was not necessary to add the material to the shelf.
Bibliographic material was successfully added on shelf.
Adding bibliographical material on shelf was not successful.
Material is already on the shelf.
Permalink
URL:
Impact factor
Access to the JCR database is permitted only to users from Slovenia. Your current IP address is not on the list of IP addresses with access permission, and authentication with the relevant AAI accout is required.
Year
Impact factor
Edition
Category
Classification
JCR
SNIP
JCR
SNIP
JCR
SNIP
JCR
SNIP
Impact factor
Select the library membership card:
DRS,
in which the journal is indexed
Database name
Field
Year
Links to authors' personal bibliographies
Links to information on researchers in the SICRIS system
Subject headings in COBISS General List of Subject Headings
Select pickup location
The material from the parent unit is free. If the material is delivered to the pickup location from another unit, the library may charge you for this service.
PDF
