dunnettreader + law-and-economics   36

Brian Z. Tamanaha - The Knowledge and Policy Limits of New Institutional Economics on Development :: SSRN - Dec 2014, Journal of Economic Issues, 2015, Forthcoming
Washington University in Saint Louis - School of Law -- New Institutional Economics (NIE) has secured impressive achievements in academia and policy circles. The World Bank and other development organization in the past two decades have expended billions of dollars on efforts to build “good governance” and the “rule of law” informed by the NIE theory that economic development requires supportive political and legal institutions. NIE appears to be the new consensus view of development thinking, supplanting the neo-liberal Washington Consensus (..) This essay elaborates on the barriers that stand in the way of the knowledge and policy goals of NIE. Foremost is the “interconnectedness of society:” cultural, technological, legal, political, and economic activities all affect one another and are affected by one another, often in ways that are subtle and all but invisible; each situation unique in its constellation of social forces and is dynamic, constantly changing in reaction to surrounding influences. (..) I explore the ongoing struggle to identify a shared conception of “institution” — and I explain why this cannot be solved. For reasons I go on to elaborate, NIE scholars also will not be able to get a precise grip on the surrounding institutional influences that affect economic development. (..) NIE scholars today, it turns out, are repeating lessons announced five decades ago in the law and development field. The problems were insuperable then and will remain so. (..) While critical of NIE knowledge and policy objectives, this essay is not negative in orientation. NIE research is illuminating. Greater awareness of the limits will help orient future work in the field in the most fruitful directions. - Pages in PDF File: 35 -- Keywords: economic development, new institutional economics, old institutional economics, legal development, rule of law, legal theory -- downloaded pdf to Note
article  SSRN  institutional_economics  law-and-economics  institutions  legal_culture  political_culture  institution-building  institutional_change  institutionalization  development  rule_of_law  legal_reform  legal_theory  downloaded 
october 2015 by dunnettreader
Leo E. Strine - The Dangers of Denial: The Need for a Clear-Eyed Understanding of the Power and Accountability Structure Established by the Delaware Law :: SSRN Wake Forest Law Review, 2015, Forthcoming (March 20, 2015)
Supreme Court of Delaware; Harvard Law School; Penn Law School -- There is now a tendency among those who believe that corporations should be more socially responsible to pretend that corporate directors do not have an obligation under Delaware corporate law to make stockholder welfare the sole end of corporate governance within the limits of their legal discretion. These advocates of CSR contend that Delaware directors may subordinate stockholder welfare to other interests, such as those of the company’s workers or society generally. (..) But, the problem with that argument is that it is inconsistent with both judge-made common law of corporations in Delaware and the design of the Delaware General Corporation Law. More important, pretending that the nation’s leading corporate law is fundamentally different than it is runs contrary to the goal of ensuring that for-profit corporations behave lawfully, responsibly, and ethically. Lecturing others to do the right thing without acknowledging the rules that apply to their behavior and the power dynamics to which they are subject is not a responsible path to social progress. Rather, it provides an excuse to avoid tougher policy challenges, such as advocating for stronger externality regulation and encouraging institutional investors to exercise their power as stockholders responsibly. Those challenges must be confronted if we are to ensure that for-profit corporations are vehicles for responsible, sustainable, long-term wealth creation. -- PDF File: 43 -- downloaded pdf to Note
US_legal_system  US_politics  corporate_law  corporate_citizenship  corporate_governance  shareholder_value  profit_maximization  principal-agent  fiduciaries  law-and-economics  CSR  capital_as_power  duties-legal  duties-civic  duty_of_care  duty_of_loyalty  Delaware_law  downloaded 
july 2015 by dunnettreader
Lyman Johnson, David Millon - Recalling Why Corporate Officers are Fiduciaries :: SSRN - William & Mary Law Review, Vol. 46, 2005
Lyman Johnson, Washington and Lee U Law School; U of St. Thomas, St. Paul/Minneapolis, MN - School of Law -- David Millon,Washington and Lee U Law School -- For all the recent federal attention to ...corporate officer and director functions, ... state fiduciary duty law makes no distinction between the fiduciary duties of these two groups. (..) The thesis of this article is that corporate officers are fiduciaries because they are agents. (..) drawing on the fiduciary duties of agents for guidance in fashioning modern understandings of corporate officer duties - and differentiating those duties from those of directors - can provide much-needed structure to what otherwise threatens to be an ad hoc enterprise. There are at least 3 benefits of our thesis. (1) state law remains the primary source for establishing the basic framework of corporate governance relations, both through corporate statutes and through judge-made fiduciary duty law. (..) (2) our thesis clarifies immensely why courts can and should more closely scrutinize officer conduct than they now review director performance (..). (3) At a theoretical level, ...our thesis has several implications. (..) we are entering an era when, due to heavier corporate regulation, the entity conception of the firm will be strengthened, as positive law, including agency law, still builds on that understanding of corporate relations. This period follows a span of perhaps 20 years when a highly disaggregated conception of corporate relations - the nexus of contracts theory - has predominated. We also believe that in the policy arguments for and against strong fiduciary duties over the years, virtually no attention has been given to distinguishing whether what is fitting for outside directors in the fiduciary duty area - relatively slack duties - is also fitting for corporate officers. -- saved to briefcase
article  SSRN  corporate_law  financial_regulation  capital_markets  fiduciaries  principal-agent  agents  duties-legal  officers-&-directors  corporate_governance  shareholders  investors  state_law  federalism  federal_preemption  SEC  SROs  corporate_personhood  directors  duty_of_care  duty_of_loyalty  conflict_of_interest  legal_remedies  law-and-economics  law-and-finance 
july 2015 by dunnettreader
Lyman Johnson, David Millon - Corporate Law after Hobby Lobby :: SSRN (rev'd Jan 2015) THE BUSINESS LAWYER, Vol 70 - November 2014
Lyman Johnson, Washington and Lee University - School of Law; University of St. Thomas, St. Paul/Minneapolis, MN - School of Law -- David Millon
Washington and Lee University - School of Law -- We evaluate the U.S. Supreme Court's controversial decision in the Hobby Lobby case from the perspective of state corporate law. We argue that the Court is correct in holding that corporate law does not mandate that business corporations limit themselves to pursuit of profit. Rather, state law allows incorporation 'for any lawful purpose.' We elaborate on this important point and also explain what it means for a corporation to 'exercise religion.' In addition, we address the larger implications of the Court's analysis for an accurate understanding both of state law's essentially agnostic stance on the question of corporate purpose and also of the broad scope of managerial discretion. -- PDF File: 33 -- Keywords: Corporate purpose, Corporate personhood, Shareholder wealth maximization, Shareholder primacy, Corporate social responsibility -- downloaded pdf to Note
article  SSRN  corporate_law  corporate_citizenship  corporate_governance  shareholders  freedom_of_conscience  SCOTUS  civil_liberties  corporate_control  corporate_personhood  limited_liability  corporations-closely-held  corporations  CSR  shareholder_value  shareholder_voting  profit_maximization  law-and-economics  labor_law  employee_benefits  power-asymmetric  capital_as_power  constitutional_law  downloaded 
july 2015 by dunnettreader
Edward B. Rock - Institutional Investors in Corporate Governance (Jan 2015) :: SSRN - Oxford Handbook on Corporate Law and Governance, 2015, Forthcoming
Penn Law School -- chapter examines the role of institutional investors in corporate governance and the role of regulation in encouraging institutional investors to become active stewards. (..) what lessons we can draw from the US experience for the EU’s 2014 proposed amendments to the Shareholder Rights Directive.(...) survey how institutional investors themselves are governed and how they organize share voting. (...) 2 central questions: (a) why, over the last 25 years, have institutional investors not fulfilled the optimists’ hopes?; and (b) can the core incentive problems that subvert Institutional Investor activism be cured by regulation? The US experience [substantial deregulation led to only modest increases in shareholder activism], suggests (..) institutional investors’ relative passivity is a fundamental lack of incentives. I examine the disappointing results of the SEC’s long experiment with incentivizing mutual funds to vote their shares (...) the EU efforts are likely to be similarly disappointing. I then examine the important role that hedge funds now play in catalyzing institutional shareholders, and consider some of the risks in relying on such highly incentivized actors. -- PDF File: 26 -- saved to briefcase
chapter  books  SSRN  law-and-economics  behavioral_economics  financial_economics  financial_regulation  corporate_governance  corporate_law  corporate_finance  capital_markets  corporate_control_markets  institutional_investors  shareholders  shareholder_voting  mutual_funds  incentives  activist_investors  investors  hedge_funds  proxies  comparative_law  administrative_law  EU-law  regulation-harmonization  regulation-enforcement  fiduciaries  profit_maximization  EU-regulation 
july 2015 by dunnettreader
David Millon - Radical Shareholder Primacy :: SSRN - Aug 2014
Washington and Lee University - School of Law -- University of St. Thomas Law Journal, Vol. 10:4 (2013) -- Washington & Lee Legal Studies Paper No. 2014-17 -- written for a symposium on the history of CSR, seeks to make sense of the surprising disagreement on the foundational legal question of corporate purpose: does the law require shareholder primacy or not? (..) disagreement is due to the unappreciated ambiguity in the shareholder primacy idea. (.. ) 2 models, the 'radical' and the 'traditional.' Radical shareholder primacy originated at Chicago in the later 1970s, (Daniel Fischel and Frank Easterbrook). [It asserts] that corporate management is the agent of the shareholders, charged with maximizing their wealth. There is no legal authority for this claim; Fischel drew it from the financial economists Michael Jensen and William Meckling, who used the agency idea in a non-legal sense. [The traditional model is] the idea that shareholders hold a privileged position within the corporation's governance structure, ... and (..) fiduciary duties as being owed to 'the corporation and its shareholders.' (..) shareholders enjoy primacy over (..) other stakeholders, although there is no maximization mandate and shareholders [have limited effective legal means] to insist that management privilege their interests. Nevertheless, this version of shareholder primacy is enshrined in the law, and, if the radical version's agency claim is laid to rest, there is no harm in acknowledging that fact. -- PDF File: 34 -- saved to briefcase
paper  SSRN  corporate_law  corporate_citizenship  corporate_governance  shareholder_value  profit_maximization  principal-agent  fiduciaries  law-and-economics  CSR  capital_as_power  status_quo_bias 
july 2015 by dunnettreader
Andrew S. Gold, Paul B. Miller, eds. -- Introduction: Philosophical Foundations of Fiduciary Law (Oxford UP 2014) :: SSRN
Andrew S. Gold, DePaul University, College of Law and Paul B. Miller, McGill University Faculty of Law -- This Introduction outlines core questions of fiduciary law theory and provides thematic discussion of the contributions to the volume. The volume includes chapters by Richard Brooks, Hanoch Dagan, Evan Criddle, Deborah DeMott, Avihay Dorfman, Justice James Edelman, Evan Fox-Decent, Tamar Frankel, Joshua Getzler, Andrew Gold, Michele Graziadei, Sharon Hannes, Genevieve Helleringer, Ethan Leib, Daniel Markovits, Paul Miller, Irit Samet, Robert Sitkoff, Henry Smith, and Lionel Smith. -- PDF File: 17 -- Keywords: Philosophy of Law, Legal Theory, Philosophy of Private Law, Private Law Theory, Fiduciary Law, Fiduciary Relationships, Fiduciary Duties, Fiduciary Remedies, Duty of Loyalty, Duty of Care, Duty of Candour -- downloaded pdf to Note
chapter  books  SSRN  philosophy_of_law  jurisprudence  legal_theory  legal_reasoning  fiduciaries  principal-agent  agents  duties-legal  rights-legal  trust  trusts  duty_of_care  duty_of_loyalty  conflict_of_interest  legal_remedies  law-and-economics  law-and-finance  Roman_law  civil_law  common_law  property  inheritance  family_law  downloaded 
july 2015 by dunnettreader
David Millon - The Single Constituency Argument in the Economic Analysis of Business Law :: SSRN - Jan 2007
David Millon, Washington and Lee University - School of Law -- Research in Law and Economics, 2007 -- Washington & Lee Legal Studies Paper No. 2007-01 -- The essay points out an interesting parallel in law-and-economics business law scholarship. Working largely independently of each other, economically oriented scholars working in different areas have argued that the law should focus on the interests of a single constituency - shareholders in corporate law, creditors in bankruptcy law, and consumers in antitrust law. Economic analysts thus have rejected arguments advanced by progressive scholars working in each of these areas that the law should instead concern itself with the full range of constituencies affected by business activity. The law-and-economics single constituency claim rests in part on skepticism about judicial competence but the underlying objection is to the use of law for redistributive purposes. The primary value is efficiency, defined in terms of market-generated outcomes. In this essay, I question this political commitment, suggesting that it implies a strong tendency toward maintenance of the existing distribution of wealth. Even more importantly, the single constituency claim may actually have redistributive implications. In each of these areas of business law, however, it is a regressive program that favors owners of capital against those who are generally less well of, such as workers and small business owners. -- Number of Pages in PDF File: 31 -- saved to briefcase
paper  SSRN  philosophy_of_law  jurisprudence  legal_theory  political_philosophy  political_economy  law-and-economics  conflict_of_interest  principal-agent  profit_maximization  incentives  incentives-distortions  efficiency  shareholder_value  creditors  consumers  consumer_protection  competition  status_quo_bias  capital  inequality-wealth  inequality-opportunity  power-asymmetric  capital_as_power  distribution-income  distribution-wealth  corporate_governance  corporate_law  corporate_citizenship  bankruptcy  antitrust  conservative_legal_challenges 
july 2015 by dunnettreader
Robert H. Sitkoff - An Economic Theory of Fiduciary Law :: SSRN - Philosophical Foundations of Fiduciary Law, Andrew Gold & Paul Miller eds. (Oxford UP, 2014
Harvard Law -- In consequence of this common economic structure [agency problem], there is a common doctrinal structure that cuts across the application of fiduciary principles in different contexts. However, (..) the particulars of fiduciary obligation vary in accordance with the particulars of the agency problem in the fiduciary relationship at issue. This explains (1) the purported elusiveness of fiduciary doctrine and (2) why courts apply fiduciary law both categorically, such as to trustees and (legal) agents, as well as ad hoc to relationships involving a position of trust and confidence that gives rise to an agency problem. (...) a functional distinction between primary and subsidiary fiduciary rules. In all fiduciary relationships we find general duties of loyalty and care, typically phrased as standards, (..) we also find specific subsidiary fiduciary duties, often phrased as rules, that elaborate on the application of loyalty and care to commonly recurring circumstances in the particular form of fiduciary relationship. (..) the puzzle of why fiduciary law includes mandatory rules that cannot be waived in a relationship deemed fiduciary. Committed economic contractarians, such as Easterbrook and Fischel, have had difficulty in explaining why the parties to a fiduciary relationship do not have complete freedom of contract. The answer is that the mandatory core of fiduciary law serves a cautionary and protective function within the fiduciary relationship as well as an external categorization function that clarifies rights for third parties. -- PDF File: 14 -- Keywords: fiduciary, agency, trust, loyalty, care, prudence, agency costs, duty
chapter  books  SSRN  law-and-economics  behavioral_economics  philosophy_of_law  jurisprudence  fiduciaries  agents  principal-agent  freedom_of_contract  trust  trusts  duty_of_care  duty_of_loyalty  conflict_of_interest  legal_reasoning  rights-legal  duties-legal  common_law 
july 2015 by dunnettreader
Lee Anne Fennell, Richard H. McAdams, eds. - Fairness in Law and Economics: Introduction :: SSRN - (Edward Elgar 2013)
Lee Anne Fennell and Richard H. McAdams, both University of Chicago Law School -- University of Chicago Coase-Sandor Institute for Law & Economics Research Paper No. 704 -- This introduction, prepared for an edited volume, offers some observations on the importance — indeed, inescapability — of fairness concerns in law and economics. The relationship between fairness and the economic concept of efficiency is usually cast as an adversarial one. Rational choice economics typically describes human behavior as motivated by simple self-interest, rather than by concerns of morality, justice, or fairness. But we have found that the connections between concepts of fairness and the economic analysis of law are robust and diverse. After discussing some of these linkages, we describe the organization and content of the volume we have compiled. In it, economics engages with fairness, challenging the idea that the two concepts are alien to each other. -- PDF File: 18 -- Keywords: fairness, law and economics -- downloaded pdf to Note
chapter  books  SSRN  law-and-economics  behavioral_economics  game_theory  rational_choice  rationality-economics  fairness  efficiency  welfare_economics  self-interest  altruism  microeconomics  policymaking  legal_system  legal_theory  legal_reasoning  utility  status_quo_bias  downloaded 
july 2015 by dunnettreader
Lee Anne Fennell, Richard H. McAdams - The Distributive Deficit in Law and Economics :: SSRN - Minnesota Law Review, Forthcoming (April 2015)
Lee Anne Fennell, Richard H. McAdams, both University of Chicago Law School -- University of Chicago Coase-Sandor Institute for Law & Economics Research Paper No. 713 -- Welfarist law and economics ignores the distributive consequences of legal rules to focus solely on efficiency, even though distribution unambiguously affects welfare, the normative maximand. The now-conventional justification for disregarding distribution is the claim of tax superiority: that the best means of influencing or correcting distribution is via tax-and-transfer. Critics have observed that optimal redistribution through tax may be politically infeasible, but have generally overlooked the rejoinder that the same political impediments to redistribution through tax will block redistribution through legal rules. This “invariance hypothesis,” as we label it, holds that there is only one distributive equilibrium and that Congress will offset through tax any deviations from it. We highlight the centrality of invariance to the conventional economic wisdom and assert that it is just as relevantly false as the zero transaction cost assumption. In contexts where political impediments to tax-based redistribution exceed the impediments to doctrinal redistribution, it may be possible to increase welfare by redistributing outside of tax. Welfarists should, therefore, devote as much scholarly attention to the “political action costs” of redistribution as they do to transaction costs.-- PDF File: 65. -- Keywords: redistribution, tax-and-transfer, legal rules, law and economics, welfare economics -- saved to briefcase
article  SSRN  philosophy_of_law  welfare_economics  behavioral_economics  law-and-economics  redistribution  tax_policy  transaction_costs  inequality  inequality-wealth  policymaking  US_politics 
july 2015 by dunnettreader
Mark S. Mizruchi - Berle and Means Revisited: The Governance and Power of Large U.S. Corporations | JSTOR: Theory and Society, Vol. 33, No. 5 (Oct., 2004), pp. 579-617
In The Modern Corporation and Private Property (1932), Berle and Means warned of the concentration of economic power brought on by the rise of the large corporation and the emergence of a powerful class of professional managers, insulated from the pressure not only of stockholders, but of the larger public as well. In the tradition of Thomas Jefferson, Berle and Means warned that the ascendance of management control and unchecked corporate power had potentially serious consequences for the democratic character of the United States. Social scientists who drew on Berle and Means in subsequent decades presented a far more benign interpretation of the rise of managerialism, however. For them, the separation of ownership from control actually led to an increased level of democratization in the society as a whole. Beginning in the late 1960s, sociologists and other social scientists rekindled the debate over ownership and control, culminating in a series of rigorous empirical studies on the nature of corporate power in American society. In recent years, however, sociologists have largely abandoned the topic, ceding it to finance economists, legal scholars, and corporate strategy researchers. In this article, I provide a brief history of the sociological and finance/legal/strategy debates over corporate ownership and control. I discuss some of the similarities between the two streams of thought, and I discuss the reasons that the issue was of such significance sociologically. I then argue that by neglecting this topic in recent years, sociologists have failed to contribute to an understanding of some of the key issues in contemporary business behavior. I provide brief reviews of four loosely developed current perspectives and then present an argument of my own about the changing nature of the U.S. corporate elite over the past three decades. I conclude with a call for sociologists to refocus their attention on an issue that, however fruitfully handled by scholars in other fields, cries out for sociological analysis. -- downloaded pdf to Note
article  jstor  economic_history  intellectual_history  20thC  21stC  US_economy  US_politics  political_economy  political_sociology  economic_sociology  law-and-finance  law-and-economics  capitalism  corporations  MNCs  corporate_governance  corporate_finance  capital_markets  shareholder_value  shareholders  principal-agent  management  managerialism  corporate_citizenship  corporate_control_markets  corporate_law  M&A  business-and-politics  business-norms  power  power-asymmetric  status  interest_groups  lobbying  regulation  bibliography  downloaded  EF-add 
september 2014 by dunnettreader
Edward J. Kane -The Flummery of Capital-Requirement Repairs Since The Crisis | The Institute for New Economic Thinking - September 16, 2014
Government safety nets give protected institutions an implicit subsidy and intensify incentives for value-maximizing boards and managers to risk the ruin of their firms. Standard accounting statements do not record the value of this subsidy and forcing subsidized institutions to show more accounting capital will do little to curb their enhanced appetite for tail risk. This paper proposes new accounting and ethical standards that would reclassify the legal status of the financial support a firm receives from the safety net and record it as an equity investment. The purpose is to recognize statutorily that a safety net is a contract that promises to deliver loss-absorbing equity capital to firms at times when no other investors will. The explicit recognition of the public's stakeholder interest in economically, politically, and administratively difficult-to-unwind firms is a first and necessary step toward assigning to their managers enforceable fiduciary duties of loyalty, competence, and care towards taxpayers. These duties are meant to parallel those that managers owe to shareholders, including the right to share in the firm’s profits and to receive information relevant for assessing their investment. The second step in this process is to change managerial behavior: to implement and enforce a series of requirements and penalties that can lead managers to measure and record on the balance sheet of each subsidized firm – as a special class of equity – the capitalized value of the safety-net subsidies it receives from its “taxpayer put.” -- and by defining a class of particularly vexing acts of safety-net arbitrage as criminal theft. -- downloaded pdf to Note
paper  law-and-economics  law-and-finance  corporate_governance  financial_system-government_back-stop  too-big-to-fail  financial_regulation  subsidies-financial_institutions  fiduciaries  accounting  risk-systemic  risk-mitigation  financial_crisis  bailouts  leverage  capital_adequacy  Basle  downloaded  EF-add 
september 2014 by dunnettreader
Adaptation Clearinghouse | Georgetown Climate Center
Tap into the adaptation expertise of the Georgetown Climate Center and its partners. Find resources using the search, mapping, and browsing tools displayed on this page. **--** Featured Policy Areas -- * Law & Governance. * Sea-Level Rise. * Urban Heat. **--** Sector Materials to Get You Started -- * Coasts. * Public Health. * Transportation. * Water **--** The Adaptation Clearinghouse seeks to assist state policymakers, resource managers, academics, and others who are working to help communities adapt to climate change. The Clearinghouse was developed by the Georgetown Climate Center through the generous support of the Rockefeller Foundation and all of the wonderful funders who make our work possible.
website  technical_assistance  climate  climate-adaptation  local_government  law-and-environment  law-and-economics  coordination-governments  ocean  water  transport  urban_development  public_health 
september 2014 by dunnettreader
Georgetown Climate Center Resources to Help Communities Prepare for Climate Changes | Georgetown Climate Center
With the planet warming and extreme weather becoming the new normal, states and communities are seeking out resources to help them anticipate climate impacts and protect residents, homes, businesses, and public infrastructure from rising seas, heat, drought, wildfires, extreme weather, and other climate impacts. The Georgetown Climate Center strives to help communities meet these challenges by addressing the legal barriers that communities face when adapting to rising sea levels, and seeks to help localities prepare for the increased frequency, scope, and severity of heat events and extreme weather. The Center also strives to help communities spend disaster relief funds wisely by preparing for the next big storm – not just rebuilding to meet the status quo. The Georgetown Climate Center provides its clients with broad legal advice and policy options, along with strategies to adapt to each set of challenges. It also provides technical assistance to selected states and localities.
website  climate  climate-adaptation  risk-mitigation  land_use_planning  infrastructure  local_government  ocean  coastal_development  property_rights  law-and-economics  law-and-environment  administrative_law  regulation  cross-border  federalism  public_finance  public_goods  disaster  technical_assistance 
september 2014 by dunnettreader
Adaptation Tool Kit: Sea-Level Rise and Coastal Land Use | Georgetown Climate Center
The Adaptation Tool Kit explores 18 different land-use tools that can be used to preemptively respond to the threats posed by sea-level rise to both public and private coastal development and infrastructure, and strives to assist governments in determining which tools to employ to meet their unique socio-economic and political contexts. To this end, the tool kit also provides policymakers with a framework for decision making. Each tool is analyzed by (1) the type of power exercised to implement it (planning, regulatory, spending, or tax and market-based tools); (2) the policy objective that it facilitates (protection, accommodation, planned retreat, or preservation); and (3) the type of existing or potential land uses that the tool can be used to adapt (critical infrastructure, existing development, developable lands, and non-developable lands). A top level analysis of the trade-offs between tools—the economic, environmental, and social costs and benefits, and the legal and administrative feasibility of implementing each tool—is also provided. -- didn't download
local_government  land_use_planning  infrastructure  climate  ocean  coastal_development  regulation-environment  incentives  property_rights  administrative_agencies  administrative_law  law-and-economics  law-and-environment  environment  risk-mitigation  climate-adaptation  technical_assistance  political_economy 
september 2014 by dunnettreader
Ruud de Mooij, Michael Keen, Victoria Perry - Fixing international corporate taxation | vox 14 September 2014
IMF experience in developing countries points to some distinctive policy issues. Over the past 2 decades, developing countries have signed a huge number of tax treaties. But the evidence on whether they actually affect FDI (plagued by endogeneity issues) is mixed at best. What we do see in our country work are sometimes significant revenue losses, reinforced by the ability of MNCs to route and structure their intra-group payments to exploit treaty arrangements. This has for some while led IMF staff to (cautiously) urge caution in signing treaties – a view... included in the G20-OECD Action Plan of the Base Erosion and Profit Shifting project. [A less prominent but important issue] is the tax treatment of capital gains on the transfer of interest in assets, such as telecoms or mineral licenses – it may be possible to avoid tax in the country where these assets are inherently located by holding them through a chain of offshore companies, and then selling the claim to a low-tax jurisdiction. This has emerged as a macro-relevant concern in several low-income countries (such as Mauritania and Uganda). *-* The underlying policy issue is one of spillovers in international taxation – the effects that, through the ways in which business reacts, one country’s tax decisions have an impact on others. A low or zero tax rate on income arising in a country is only the most obvious route. Network externalities also arise from the signing of treaties (if A, which has a treaty with B, signs another with C, in effect creating a treaty between B and C without consent from B); and countries can compete over tax bases by special regimes for types of income or activities. *-* one has to start by looking at the basic architecture of international taxation. -- closer to where the world may be heading, is moving toward a combination of arm’s-length pricing on transactions where this is relatively easy (such as for most tangibles) and a formulaic profit split where it is not (such as for most intangibles). And there are other suggestions for fundamentally different international tax policies, such as that for destination-based corporate tax, which mimics a VAT but with a deduction for the cost of labour.
international_political_economy  global_economy  global_governance  taxes  tax_havens  MNCs  transfer_pricing  trade-agreements  treaties  international_law  international_economics  law-and-economics  law-and-finance  corporate_citizenship  emerging_markets  G20  OECD_economies  OECD  IMF  FDI  investment-bilateral_treaties  externalities  bibliography  EF-add 
september 2014 by dunnettreader
Zhijie Chen, Jing Zhuo - The Trade and Culture Debate in the Context of Creative Economy: An Adaptive Regulatory Approach from Fragmentation to Coherence :: SSRN June 16, 2014
Zhijie Chen - The University of Hong Kong (PhD Student) -- Jing Zhuo - University of Macau. -- Fourth Biennial Global Conference of the Society of International Economic Law (SIEL) Working Paper No 2014/07. **--** The trade and culture debate has been a long tension without a definite result. It has been widely argued that neither the existing WTO regulatory framework nor the UNESCO Convention on the Protection and Promotion of the Diversity of Cultural Expression can address the debate. More recently, some emerging domains in the digital age, including digital technology and intellectual property rights, have posed crucial challenges These trends invite the careful reconsideration of the role of law, the dominant legal responses and regulatory approaches; however they have not been paid due attention. This paper investigates a possibly more adaptive regulatory approach for the trade and culture debate under the changed regulatory environment. Compared with cultural industries, it appears that creative industries tend to more properly reflect the status quo of the current economy, and the concept of creative economy could be employed as the concept to design a new regulatory approach for the debate in the digital age. For the WTO regulatory framework, a two-steps approach could be considered. The first step is to formulae the ‘creative economy’ as a legal concept, followed by the second step of introducing the concept into the WTO regulatory framework. It is suggested that such approach could be a more adaptive and coherent regulatory approach for the trade and culture debate in the digital age. -- Number of Pages: 41 - downloaded pdf to Note
paper  SSRN  international_law  international_economics  law-and-economics  international_political_economy  global_governance  UN  UNESCO  culture  diversity  trade-policy  WTO  creative_economy  regulation  regulation-harmonization  digital_humanities  technology  Innovation  convergence-business  globalization  national_interest  public_goods  free_trade  protectionism  IP  property_rights  downloaded  EF-add  change-social 
september 2014 by dunnettreader
Lilian Richieri Hanania - The UNESCO Convention on the Diversity of Cultural Expressions as a Coordination Framework to Promote Regulatory Coherence in the Creative Economy :: SSRN June 7, 2014
"The UNESCO Convention on the Diversity of Cultural Expressions as a Coordination Framework to Promote Regulatory Coherence in the Creative Economy" -- Université Paris I Panthéon-Sorbonne -- Fourth Biennial Global Conference of the Society of International Economic Law (SIEL) Working Paper No. 2014/03. **--** [The paper looks at] business convergence in creative industries from the perspective of cultural diversity. It is based on the premise that the recognition of the creative and innovative component of the so-called “creative industries” or the “creative economy” confirms the need for non-economic factors and particularly cultural concerns to be taken into account in regulatory efforts addressing those industries. It examines the way new technologies and business convergence may affect the “trade and culture debate” vis-à-vis the WTO, and how the UNESCO Convention on the Protection and Promotion of the Diversity of Cultural Expressions (CDCE) may respond in a relevant manner to those challenges. Despite its weakly binding language, the CDCE contains principles, objectives and rules that set a comprehensive framework for policy “related to the protection and promotion of the diversity of cultural expressions” at the national, regional and international levels. -- By prioritizing policy and regulatory coordination, ... the main elements enshrined in the CDCE should be employed to contribute to greater coherence ...vis-à-vis the WTO and other IOs. - Number of Pages: 23 - downloaded pdf to Note
paper  SSRN  international_law  international_economics  law-and-economics  international_political_economy  global_governance  UN  UNESCO  diversity  culture  cultural_change  culture_industries  creative_economy  trade-policy  trade-agreements  international_organizations  WTO  development  sustainability  regulation-harmonization  administrative_agencies  administrative_law  convergence-business  globalization  downloaded  EF-add 
september 2014 by dunnettreader
Rostam J. Neuwirth - The Creative Industries as a New Paradigm for Business and Law: Of 'Smart Phones' and 'Smarter Regulation' :: SSRN June 13, 2014
University of Macau - Faculty of Law, E32 -- Fourth Biennial Global conference of the Society of International Economic Law (SIEL) Working Paper No. 2014/05. **--** From a macroeconomic perspective, the historical evolution of trade and commerce has been closely entangled in a two-way or paradoxical relationship with the evolution of laws, where one is inextricably linked to the other and both mutually influence each other. At the microeconomic level, the same can be said about the relationship between businesses or industries and their underlying technologies. Recent changes, and notably the accelerated pace by which we recognize change, has led to a widespread trend of “convergence”. Convergence has been recognised in different contexts, namely in languages, technologies, and industries as well as regulatory matters. The objective of this article is thus to first trace and describe convergence from a linguistic, technological and industrial perspective. Subsequently, in order to ponder the future regulatory challenges in the regulation of global trade under the aegis of the World Trade Organization (WTO), it will focus on the question of whether technological and industrial convergence should be met by a similar trend towards regulatory convergence through regulatory harmonisation. Put differently, it will critically evaluate the present situation of regulatory divergence in the form of regulatory diversity and regulatory competition with a view of contributing to the debate of improving global trade regulation in the 21st century. - Number of Pages: 21 -- didn't download
paper  SSRN  international_law  international_economics  law-and-economics  international_political_economy  global_governance  WTO  regulation  administrative_agencies  administrative_law  technocracy  accountability  public_policy  legal_culture  regulation-harmonization  technology  technology_transfer  economic_culture  creative_economy  political_participation  globalization  global_system  manufacturing  production  change-social  EF-add 
september 2014 by dunnettreader
Aluisio Gomien De Lima-Campos - Currency Misalignments and Trade: A Path to a Solution :: SSRN June 16, 2014
American University - Washington College of Law -- Fourth Biennial Global Conference of the Society of International Economic Law (SIEL) Working Paper No. 2014/11 **--** The debate about currency misalignments (CMs) and trade is not new. It was already being discussed in the 1940s. What is new is that the existing mechanisms to deal with CMs at the IMF, under its Article IV, and at the WTO, under its Article XV, have proven to be ineffective. This article seeks to show the problems with these mechanisms, understand the reasons of why so, explore available options to resolve them and suggest a path to a lasting sustainable solution. - downloaded pdf to Note
paper  SSRN  international_law  international_economics  law-and-economics  international_political_economy  global_governance  international_monetary_system  international_organizations  economic_history  diplomatic_history  IMF  entre_deux_guerres  post-WWII  FX  FX-misalignment  global_imbalance  trade-policy  trade-agreements  capital_markets  downloaded  EF-add 
september 2014 by dunnettreader
R. Michael Gadbaw - Existential Risks to the Global Trading System and the Problem of Currency Intervention as a Case Study :: SSRN June 16, 2014
Institute of International Economic Law, Georgetown University Law Center -- Fourth Biennial Global Conference of the Society of International Economic Law (SIEL) - Society of International Economic Law (SIEL) Working Paper No. 2014/10. *&--** As countries seek to promote growth in the aftermath of the financial crisis, currency intervention has become more prevalent and distortions in exchange rates with their resulting imbalances in trade flows have prompted call for new initiatives to address them, including in the negotiations of the Trans-Pacific Partnership (TPP) and of the Transatlantic Trade and Investment Partnership (TTIP). Both economic and legal experts have brought new insight into the impact of currency intervention on trade and a fresh legal perspective on the application of the rules in the WTO against measures that frustrate the intent of the GATT/WTO agreements. This paper reviews the underlying legal and policy issues and provides possible language for inclusion in the TPP or TTIP, and eventually in the WTO, that would build on the existing disciplines in the WTO and IMF agreements by authorizing remedial action in the form of safeguard and countervailing duties in response to a finding of actionable currency intervention. -- Number of Pages: 10 -- downloaded pdf to Note
paper  SSRN  international_law  international_economics  law-and-economics  international_political_economy  global_governance  international_monetary_system  international_organizations  IMF  FX  FX-misalignment  WTO  trade-agreements  global_imbalance  trade-policy  Trans-Pacific-Partnership  Transatlantic_Trade_and_InvestmentPartnership  competition  capital_flows  investment-bilateral_treaties  central_banks  downloaded  EF-add 
september 2014 by dunnettreader
Henning Grosse Ruse-Khan - Litigating Intellectual Property Rights in Investor-State Arbitration: From Plain Packaging to Patent Revocation :: SSRN August 14, 2014
University of Cambridge - Faculty of Law; Max Planck Institute for Innovation and Competition -- Fourth Biennial Global Conference of the Society of International Economic Law (SIEL) Working Paper No. 2014-21 - Max Planck Institute for Innovation & Competition Research Paper No. 14-13. **--** Enforcing intellectual property rights abroad is difficult. International treaties have generally not created directly enforceable IP rights. Usually, the protection they confer cannot be directly invoked in national courts. Because of the territorial nature of IP protection, right holders must proceed in local courts based on local laws. Litigating IP rights abroad hence faces several hurdles. International investment law offers some options to overcome these hurdles: -- This article focusses on the investment interface aspect of IP: Compared to domestic proceedings (where international standards usually cannot be invoked), WTO dispute settlement (where right holders have no legal standing), and the protection of property under human rights instruments (where protection is limited to specific human rights standards), investor-state arbitration may be the only forum where right holders can litigate international IP norms such as the TRIPS Agreement. This may have significant effects on the autonomy of host states in responding to public interest concerns (such as access to medicines or reducing smoking) once measures affect IP rights of foreign investors. Reviewing the options for litigating international IP norms in investment disputes, I conclude that most routes pursued by right holders are unlikely to be successful. Ironically, it is only clauses in investment treaties which aim to safeguard flexibilities in the international IP system that are likely to open a door for challenging compliance with international IP obligations in investor-state arbitration. - Number of Pages: 44 - downloaded pdf to Note
paper  SSRN  international_law  international_economics  law-and-economics  international_political_economy  global_governance  IP  patents  litigation  property_rights  property-confiscations  investors  FDI  dispute_resolution  arbitration  investor-State_disputes  trade-agreements  investment-bilateral_treaties  public_health  public_goods  nation-state  national_interest  sovereignty  WTO  downloaded  EF-add 
september 2014 by dunnettreader
Junianto James Losari, Michael Ewing-Chow - A Clash of Treaties: The Legality of Countermeasures in International Trade Law and International Investment Law :: SSRN June 20, 2014
Junianto James Losari - National University of Singapore (NUS) - Centre for International Law -- Michael Ewing-Chow - National University of Singapore (NUS) - Faculty of Law -- Fourth Biennial Global Conference of the Society of International Economic Law (SIEL) Working Paper No. 2014/18. *--* Countermeasures are well recognized under Customary International Law and have been incorporated into the WTO Dispute Settlement Understanding as a mechanism to facilitate compliance, subject to an authorization by the WTO Dispute Settlement Body. However, such a countermeasure — increased tariffs, quantitative restrictions and permission to breach intellectual property rights — may also affect private investors. When there is an investment treaty between two WTO Members and one of the Members is subject to WTO countermeasures by the other Member, a clash of treaties may arise. This happened in the Sugar Dispute between Mexico and the United States. Mexico claimed that their measures on High Fructose Corn Syrup were trade countermeasures under the North America Free Trade Agreement (NAFTA) in retaliation for a US breach of NAFTA. US investors affected by these measures brought claims against Mexico for breach of NAFTA Chapter 11 — the Investment Chapter. All three International Centre for the Settlement of Investment Disputes tribunals held for different reasons, that a countermeasure that affects the rights of investors would not be valid. In contrary, this paper argues that a legitimate trade countermeasure should also be legitimate in the investment regime. A failure to consider the need for such coherence between the regimes could lead to a clash between the regimes and limit states’ ability to enforce its legitimate trade interests. - Number of Pages: 37 -- didn't download
paper  SSRN  international_law  international_economics  law-and-economics  international_political_economy  free_trade  trade-agreements  FDI  investment-bilateral_treaties  arbitration  WTO  global_governance  conflict_of_laws  IP  property_rights  dispute_resolution  US_foreign_policy  Mexico  nation-state  national_interest  EF-add 
september 2014 by dunnettreader
Gregory Shaffer - How the WTO Shapes the Regulatory State :: SSRN August 14, 2014
University of California, Irvine - School of Law -- Fourth Biennial Global Conference of the Society of International Economic Law (SIEL) Working Paper No. 2014/29. *--* The World Trade Organization (WTO) arguably shapes regulatory governance in more countries to a greater extent than any other international organization. This chapter provides a new framework for assessing the broader regulatory implications of the WTO within nation states, as opposed to viewing the WTO as a form of global governance above the nation state. It first examines seven types of changes required for national law and legal practice, which affect how the state raises revenue, how the state spends it, and the principles the state applies to regulation. The chapter then assesses four broader dimensions of regulatory change catalyzed by WTO rules: (i) changes in the boundary between the market and the state (involving concomitantly market liberalization and growth of the administrative state); (ii) changes in the relative authority of institutions within the state (promoting bureaucratized and judicialized governance); (iii) changes in professional expertise engaging with state regulation (such as the role of lawyers); and (iv) changes in normative frames and accountability mechanisms for national regulation (which are trade liberal and transnational in scope). In practice, these four dimensions of change interact and build on each other. The chapter presents what we know to date and a framework for conducting further empirical study. - Number of Pages: 43 -- Keywords: WTO, World Trade Organization, Regulation, Regulatory governance, Market liberalization - downloaded pdf to Note
paper  SSRN  international_law  international_economics  law-and-economics  international_political_economy  global_governance  WTO  regulation  administrative_agencies  administrative_law  technocracy  accountability  public_policy  legal_culture  legal_theory  lawyers  political_participation  business-and-politics  norms-business  markets_in_everything  markets  neoliberalism  free_trade  democracy  downloaded  EF-add 
september 2014 by dunnettreader
Thorstensen, Fernandes Marçal, Ferraz - WTO x PTAs -- Where to Negotiate Trade and Currency :: SSRN June 16, 2014
Vera Thorstensen - São Paulo School of Economics (EESP) at Fundação Getulio Vargas (FGV) -- Emerson Fernandes Marçal - Sao Paulo School of Economics - FGV; Mackenzie Presbyterian University -- Lucas Ferraz - Sao Paulo School of Economics-FGV. -- Fourth Biennial Global Conference of the Society of International Economic Law (SIEL) Working Paper No. 2014/09. *--* The negotiations of mega agreements between the US and the Pacific countries (TPP) and between the US and the EU (TTIP) are raising the attention of experts on international trade law and economics. TPP and TTIP are proclaimed to be the designers of the rules for the XXI Century. Old trade instruments such as tariffs are said to be no more important for TTIP because tariffs are negligible among those partners but significant to for TPP. Another relevant agreement in negotiation is between the EU and Mercosul, where tariffs are the most important issue in discussion. The main purpose of this paper is to shows that tariff are important for all these agreements, not because of its nominal value, but because the impacts of exchange rate misalignments on tariffs are so significant that all concessions can be distorted by overvalued and by devaluated currencies. The article is divided into six sections: the first gives an introduction to the issue; the second explains the methodologies used to determine exchange rate misalignments and also presents some results for Brazil, US and China; the third summarizes the methodology applied to calculate the impacts of exchange rate misalignments on the level of tariff protection through an exercise of “misalignment tariffication” and examines the effects of exchange rate variations on tariffs and their consequences for the multilateral trading system; the fourth creates a methodology to estimate exchange rates against a basket of currencies (a virtual currency of the World) and a proposal to deal with persistent and significant misalignments related to trade rules. The fifth presents some estimates for the main PTAs. The conclusions are present in the last section. -- downloaded pdf to Note
paper  SSRN  international_law  international_economics  law-and-economics  trade-agreements  tariffs  FX  global_imbalance  US_foreign_policy  China  Brazil  EU  Latin_America  South-South_economics  emerging_markets  capital_flows  international_monetary_system  FX-misalignment  prices  costs  downloaded  EF-add 
september 2014 by dunnettreader
Locknie Hsu - Convergence, Divergence, and Regulatory Tension - An Asian Perspective :: SSRN September 5, 2014
Singapore Management University - School of Law -- Singapore Management University School of Law Research Paper No. 30/201 -- Fourth Biennial Global Conference of the Society of International Economic Law (SIEL), pp 2-14, June 2014, Working Paper No. 2014/13. *--* Regulatory issues relating to public health, including regulation of access to medicines and tobacco control have increasingly been the source of tension in recent trade and investment negotiations, treaties and disputes. The ongoing Trans-Pacific Partnership negotiations, which include a number of developing Asian states, are an example that brings some of these issues to the fore and show a divergence of negotiating views. The intersection between public health regulation and trade and investment treaties has given some Asian states significant pause for thought; -- This intersection and resulting tension have led the WTO, WHO and WIPO to work together in an unprecedented manner to address some of the issues at the global level. The law evolving around these issues is demonstrating a deep divergence, in the manner that related disputes are being handled, and in terms of regulatory as well as negotiating stances. As an example, the debate on access to medicines demonstrates a divergence of approaches and proposed global solutions, as numerous proposals for reform of the existing construct (comprising patents and their “progeny” in the form of related commercial rights) are canvassed. Meanwhile, some countries such as India have begun to move ahead to embrace solutions such as compulsory licensing. -- It is suggested that a convergence of purpose(s) is needed, for a convergence of solutions to be found. Until then, the current divergences will continue to feed regulatory tension. -- Keywords: Convergence, divergence, trade, investment, public health, tobacco, pharmceuticals, FTAs, Asia, ASEAN -- downloaded pdf to Note
paper  SSRN  international_law  international_economics  law-and-economics  international_political_economy  global_governance  Trans-Pacific-Partnership  Asia_Pacific  Asia  India  IP  convergence-business  technology  technology_transfer  Innovation  health_care  commercial_law  neoliberalism  FDI  trade-agreements  property_rights  public_health  public_goods  US_foreign_policy  US_legal_system  business-and-politics  investment  WTO  international_organizations  downloaded  EF-add 
september 2014 by dunnettreader
Fola Adeleke - Investor-State Arbitration and the Public Interest Regulation Theory :: SSRN June 16, 2014
University of the Witwatersrand - School of Law -- Fourth Biennial Global Conference of the Society of International Economic Law (SIEL) Working Paper No. 2014/12. *--* When South Africa decided late last year to terminate a number of bilateral investment agreements with European Union countries, it did so at a time when global regulatory governance has come under scrutiny for their disposition to the domestic economic policies of states and the idea of state sovereignty in the regulation of its own economic affairs is fast declining. The prevailing global regulatory governance regime institutionalizes neo-liberalism which has given birth to various economic institutions and rules including bilateral investment treaties (BITs). The policy interest behind BITs is to some extent the suspension of domestic regulation in the governance of foreign investment. With this suspension in place, the regulatory sphere is filled by a supra-national regime that is rigid and restrains state conduct. In this paper, I intend to apply the emerging legal framework of global administrative law (GAL) to investor state arbitration in order to dispel the resistance towards this dispute settlement mechanism found in BITs for its perceived inability to adequately handle disputes that deal with public interest issues that fall outside standard investment protection but are relevant to the resolution of the investment dispute. I propose the application of domestic law concepts in an international sphere and make the argument that a statutory interpretation based on administrative law principles anchors the BIT regime to the domestic policy space of states and builds up the much needed legitimacy for investor state arbitration. The focus of GAL on the procedural elements of administrative law enables the implementation of substantive norms of liberalized trade which also promotes the rule of law, encourage a broader range of social and economic actors to scrutinize decision making and promote a democratic element in global regulatory governance. This democratic element includes public participation, greater transparency as well as an interpretive approach founded on GAL principles. - Pages in PDF File: 52 -- Keywords: Bilateral Investment Treaties (BITs), Global Administrative Law (GAL), Deference, Public Interest, Investment Arbitration - downloaded pdf to Note
paper  SSRN  international_law  international_economics  law-and-economics  South_Africa  EU  global_governance  global_economy  international_political_economy  international_finance  administrative_law  dispute_resolution  arbitration  neoliberalism  treaties  FDI  common_good  investment-bilateral_treaties  democracy  nation-state  national_interest  political_participation  business-and-politics  emerging_markets  investor-State_disputes  downloaded  EF-add 
september 2014 by dunnettreader
Stephan W. Schill - The Sixth Path: Reforming Investment Law from Within :: SSRN June 4, 2014
Max Planck Institute for International Law -- Fourth Biennial Global Conference of the Society of International Economic Law (SIEL) Working Paper No. 2014/02. *--* In reaction to a summary of five different paths for investment law reform made by the United Nations Conference on Trade and Development in June 2013, which focused on institutional reforms of investor-State dispute settlement, the present paper sketches out a sixth path for investment law reform that is based on a system-internal reconceptualization of investor-State arbitration as a form of public law-based judicial review. It can be reformed, the paper argues, by arbitrators and parties making increasing use of comparative public law methodology that allows them to draw on the experience of more sophisticated systems of public law adjudication at the national and international level without the need for institutional reform to investor-State arbitration. First, the paper points out the benefits of the existing system of investor-State arbitration, in order to show that investor-State arbitration is an institution worth reforming from within. Second, the paper lays out the basic framework to reconceptualize investment law as a system of public law and governance and point out shortcomings in the currently prevailing approaches to understanding investor-State arbitration. Third, the paper indicates the methodological consequences of a reconceptualization of investor-State arbitration as a public law system of governance, namely the need for arbitrators to make increased use of comparative public law in resolving disputes. Finally, the paper shows how public law ideas and comparative public law methodology can be brought into investment arbitration in its present form and why arbitrators have an interest in conforming to these standards even without fundamental institutional reform. - Number of Pages in PDF File: 25 - Keywords: investment treaties, international investment law, investor-state arbitration, investment law - downloaded pdf to Note
paper  SSRN  international_law  international_economics  law-and-economics  international_political_economy  international_finance  capital_markets  investment  sovereign_debt  investor-State_disputes  FDI  dispute_resolution  arbitration  global_governance  comparative_law  legal_system  legal_theory  legal_reasoning  reform-legal  treaties  downloaded  EF-add 
september 2014 by dunnettreader
SSRN Society of International Economic Law (SIEL), Fourth Biennial Global Conference
The Fourth Biennial Global Conference of the Society of International Economic Law (SIEL) was held in Bern and hosted by the World Trade Institute (WTI) of the University of Bern, from 10-12 July 2014. You can browse all SIEL Fourth Biennial Global Conference abstracts in the SSRN eLibrary. The Society of International Economic Law (SIEL) is a new organization aimed at academics and academically-minded practitioners and officials in the field of IEL, in all parts of the world. The broad goals and objectives of the organization include: building links and networks between and among IEL academics and academically-minded practitioners and officials; fostering the development of local IEL expertise and IEL organizations where needed; representing the discipline of international economic law as appropriate in global, regional and national fora; and encouraging research, practice, service and teaching in the field of IEL.
paper  SSRN  international_law  international_economics  law-and-economics  international_organizations  development  trade-policy  trade-agreements  WTO  global_governance  international_political_economy  reform-legal  institutional_economics  international_finance  capital_markets  capital_flows  climate  energy  ocean  treaties 
september 2014 by dunnettreader
Rodrigo Polanco - The Chilean Experience in South-South Trade and Investment Agreements :: SSRN July 29, 2014
University of Chile - Faculty of Law; World Trade Institute - University of Bern -- Fourth Biennial Global Conference of the Society of International Economic Law (SIEL) Working Paper No. 2014-26. *--* This paper analyzes the main features of Chilean trade and investment treaties, examining if there is a Chilean pattern in the regulation of trade and investment flows or if it is influenced by agreements signed by Chile with developed countries. The article also examines if there are differences between the treaties signed by Chile and other “Southern” developing countries and those negotiated with “Northern” developed economies, and if sustainable development concerns are part of the negotiations of trade and investment agreements by Chile. -- Number of Pages in PDF File: 29 -- Keywords: investment treaties, preferential trade agreements, investor-state arbitration, North-South agreements, South-South agreements, law and development, sustainable development, Chile. - downloaded pdf to Note
paper  SSRN  international_law  international_economics  Latin_America  Chile  trade-policy  trade-agreements  FDI  investment-bilateral_treaties  investor-State_disputes  capital_flows  South-South_economics  US_trade_agreements  US_foreign_policy  US_legal_system  law-and-economics  emerging_markets  sustainability  downloaded  EF-add 
september 2014 by dunnettreader
Three Ways of Explaining the Rise of “Law and Economics,” and Also, One Way (Guest Post by Sara Mayeux) | s-usih.org
So, how did law and economics go from an oddball preoccupation of a few Chicago professors to one of the dominant intellectual frameworks for thinking and talking about law? Here are three recent accounts, each emphasizing a different causal mechanism: the two chapters on law and economics in Steven Teles’s book The Rise of the Conservative Legal Movement; the discussion of law and economics in Rodgers’s Age of Fracture; and Brad Snyder’s recent article “The Former Clerks Who Nearly Killed Judicial Restraint.”
intellectual_history  20thC  US_legal_system  legal_theory  law-and-economics  judiciary  postmodern  neoliberalism  conservatism  right-wing  EF-add 
august 2014 by dunnettreader
"CORRECTIVE JUSTICE AND THE REVIVAL OF JUDICIAL VIRTUE" by Mark C. Modak-Truran
Mark C. Modak-Truran, Mississippi College School of Law -- Aristotle's discussion of corrective justice has been generally thought to mark the beginning of the philosophical examination of tort law. Many scholars also consider corrective justice, of one form or another, the main normative alternative to the economic analysis of law. Most discussions of Aristotle’s conception of corrective justice in the law review literature, however, have failed to account for the established reading of Aristotle’s Nicomachean Ethics as proposing a teleological form of ethics. Accordingly, Corrective Justice and the Revival of Judicial Virtue argues for a teleological interpretation of Aristotle's conception of corrective justice. The teleological conception of corrective justice does not attempt to analyze corrective justice merely as a formal (Weinrib), substantive (Wright), or political (Heyman) conception of equality or freedom that can be applied by technical reason to various circumstances. Rather, it maintains that corrective justice is a moral virtue of the judge that cannot be fully understood without specifying its relationship to practical wisdom and the telos of the good life. Under this reading, Aristotle’s conception of corrective justice specifies a method of judicial decision making whereby only the practically wise (i.e., morally virtuous) judge can know the content of corrective justice in all cases. Judging requires moral virtue not technical, philosophical or legal, expertise. Consequently, this article advocates a revival of Aristotle’s notion that judicial virtue requires moral virtue. -- Mark C. Modak-Truran. "CORRECTIVE JUSTICE AND THE REVIVAL OF JUDICIAL VIRTUE" Yale Journal of Law and the Humanities 12.2 (2000): 249-298. -- downloaded pdf to Note
article  philosophy_of_law  moral_philosophy  Aristotle  virtue_ethics  phronesis  eudaimonia  justice  torts  law-and-economics  civic_virtue  judiciary  juddgment-moral  judgment-aesthetics  judgment-political  downloaded  EF-add 
july 2014 by dunnettreader
Brian Leiter - Is There an 'American' Jurisprudence? - review essay of Neil Duxbury, PATTERNS OF AMERICAN JURISPRUDENCE (Oxford University Press, 1995) :: SSRN
C U of Texas Law, Public Law Research Paper No. 74

Abstract:
This is a review essay discussing Neil Duxbury's book PATTERNS OF AMERICAN JURISPRUDENCE (Oxford University Press, 1995), taking issue, in particular, with Professor Duxbury's misunderstandings of (1) American Legal Realism, (2) Critical Legal Studies, and (3) the relationship between economic analysis of law and Legal Realism. The essay also addresses the question whether it is fruitful to think of jurisprudential movements in terms of their geographic boundaries. - Number of Pages in PDF File: 32 - downloaded pdf to Note
books  reviews  SSRN  philosophy_of_law  intellectual_history  20thC  legal_realism  Critical_Legal_Studies  law-and-economics  bibliography  downloaded  EF-add 
july 2014 by dunnettreader
Ronald J. Allen, Brian Leiter - Naturalized Epistemology and the Law of Evidence :: SSRN - Virginia Law Review, 2001
This paper looks at important developments in epistemology, and demonstrates that naturalized epistemology provides a firm conceptual foundation for much research into law of evidence. These developments in epistemology have not been much noted in legal scholarship, despite their importance in philosophy and their coincidence with some widely shared approaches to evidence scholarship. This article is a partial antidote for the unproductive fascination in some quarters of the legal academy with "postmodern" conceptions of knowledge and truth and to the even more common search by the legal professoriat for algorithms that provide answers to important legal questions, such as Bayesian decision theory or micro-economics. The article argues that the naturalistic turn in epistemology of the past thirty years (especially that branch known as social epistemology) provides the appropriate theoretical framework for the study of evidence, as it does for virtually any enterprise concerned with the empirical adequacy of its theories and the truth-generating capacity of its methodologies. It also provides a way to conceptualize and evaluate specific rules of evidence, and concomitantly explains what most evidence scholars do, regardless of their explicit philosophical commitments. For the great bulk of evidentiary scholars, this article should solidify the ground beneath their feet. -- Number of Pages in PDF File: 78 - large bibliography -- downloaded pdf to Note
article  SSRN  philosophy_of_law  epistemology-social  analytical_philosophy  evidence  naturalism  sociology_of_knowledge  methodology  decision_theory  law-and-economics  Bayesian  bibliography  downloaded  EF-add 
july 2014 by dunnettreader
Mark J. Roe - Chaos and Evolution in Law and Economics | JSTOR: Harvard Law Review, Vol. 109, No. 3 (Jan., 1996), pp. 641-668
Adds chaos theory for accidental starting position, path dependency, to standard Social Darwinism of law and economics evolutionary model. Heavily cited for a decade and still showing up in corporate governance. Not clear how he deals with "efficiency" as the evolutionary fitness test, and impacts of judiciary, regulations, lobbying on both efficiency and survival. -- didn't download
article  jstor  legal_theory  social_theory  evolution-social  corporate_governance  firms-theory  Social_Darwinism  chaos_theory  path-dependency  rational_choice  efficiency  behavioral_economics  law-and-economics  EF-add 
february 2014 by dunnettreader

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