This article provides an analysis of why regulatory competition in corporate law has operated, for the most part, successfully in the United States, and critiques the position of commentators who are skeptical of the significance and extent of state competition. The article begins by setting out the context in which regulatory competition has been most recently criticized, the U.S. Congress’s r...

Governance Institutions and Economic Activity By AVINASH DIXIT The concept of “governance” has risen from obscurity to buzzword status in just three decades. EconLit shows only 5 mentions of the word governance in the 1970s; by the end of 2008, it was mentioned 33,177 times. The much more specific phrase “economic governance” has appeared 192 times; its more popular cousin, “corporate governanc...

From the start of the People’s Republic of China’s (PRC) “corporatization” project in the late 1980s, a Chinese corporate governance regime subject to increasingly enabling legal norms has been determined by mandatory regulations imposed by the PRC securities regulator, the China Securities Regulatory Commission (CSRC). Indeed, the Chinese corporate law system has been cannibalized by all-encom...

The European Court of Human Rights’ margin of appreciation doctrine is of growing importance in general international law. Existing scholarship, however, fails to consider the political stakes involved in its use. The aim of this paper is to offer a reconceptualisation of the margin as a tool of global governance in the context of the increasing judicialisation of human rights protection in Eur...

We compare China’s financial system to those of the developed countries, in particular, the US system dominated by financial markets, and the German system dominated by the banking sector. We examine financial systems’ properties, including risk sharing, information provision, funding new and mature industries, financial crisis, corporate governance, and the relation between the financial and l...

This paper discusses the current status of the world’s fisheries and their prospects for the future, from the perspective of the economics discipline. We focus on governance institutions within which fisheries are conducted, discussing their evolution during the post WW II period with particular emphasis on the jurisdiction extension codified by the Law of the Sea Convention in 1982. We discuss...

Corporate governance systems in the historically market-based economies have evolved in such a way that the system re ̄ects the extant cultural and economic environment. However, in the transitional economies of central and eastern Europe corporate governance practices are being imported from systems used in the historically market-based economies. As a consequence, systems may be introduced int...