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The Role Of International Law Firms And Multijural Legal Human Capital In The Harmonization Of Legal Regimes, Gillian K. Hadfield
The Role Of International Law Firms And Multijural Legal Human Capital In The Harmonization Of Legal Regimes, Gillian K. Hadfield
Gillian K Hadfield
The problem of harmonizing legal rules across multiple overlapping legal orders is, in part, a problem of knowledge. If the public goal of harmonization is to promote value in transactions and dispute resolution, a legal regime needs institutions that facilitate the production of multijural human capital: expertise about how legal rules interact with each other and with the environment in which economic actors design transactions and dispute processing mechanisms. Because much of this expertise is embedded with the actors involved in transactions and disputes, the production of expertise has to be supported by adequate incentives for private actors to invest …
The Many Legal Institutions That Support Contractual Commitment, Gillian K. Hadfield
The Many Legal Institutions That Support Contractual Commitment, Gillian K. Hadfield
Gillian K Hadfield
One of the fundamental contributions of transaction cost theory and institutional economics has been to focus attention on opening the "black box" of contract enforcement, drawing attention to the institutions required to achieve effective and low-cost contract enforcement. The idea that the effectiveness of contract law is critical to the growth of economic activity is widespread in the literature on development and transition economies. Recent studies attempting to document toe relative strength of contract enforcement in different settings (La Porta, et al., 19982; Djankov, et al., 2003), however, have focused on relatively abstract notions of "courts" and "legal systems" and …