Over the past 30 years, laws in Italy have become longer, more convoluted, and frequently unintelligible even to seasoned legal professionals. This column exploits variation in the ability of lower courts to interpret poorly drafted laws in alignment with Italy’s Supreme Court of Cassation to assess how legal uncertainty affects the local economy. The authors find that uncertainty discourages investment, hinders innovation, and stifles entrepreneurship, and that improving legislative quality to

Tag-uri: Italia