Open Access. Powered by Scholars. Published by Universities.®
Articles 1 - 3 of 3
Full-Text Articles in Law and Economics
Law's Signal: A Cueing Theory Of Law In Market Transition, Robert B. Ahdieh
Law's Signal: A Cueing Theory Of Law In Market Transition, Robert B. Ahdieh
Robert B. Ahdieh
Securities markets are commonly assumed to spring forth at the intersection of an adequate supply of, and a healthy demand for, investment capital. In recent years, however, seemingly failed market transitions - the failure of new markets to emerge and of existing markets to evolve - have called this assumption into question. From the developed economies of Germany and Japan to the developing countries of central and eastern Europe, securities markets have exhibited some inability to take root. The failure of U.S. securities markets, and particularly the New York Stock Exchange, to make greater use of computerized trading, communications, and …
The Moral Hazard Problem In Global Economic Regulation, Frank J. Garcia
The Moral Hazard Problem In Global Economic Regulation, Frank J. Garcia
Frank J. Garcia
Global regulation of international business transactions presents a particular form of the moral hazard problem. Global firms use economic and political power to manipulate state and state-controlled multilateral regulation to preserve their opportunity to externalize the social costs of global economic activity with impunity. Unless other actors can effectively counter this at the national and global regulatory levels, globalization re-creates the conditions for under-regulated or “robber baron” capitalism at the global level. This model of economic activity has been rejected at the national level by the same modern democratic capitalist states which currently dominate globalization, creating a crisis of legitimacy …
Agências E Falácias, Ivo T. Gico
Agências E Falácias, Ivo T. Gico
Ivo Teixeira Gico Jr.
O autor faz uma revisão crítica acerca das afirmações do ex-Ministro Bresser-Pereira sobre estabelecer mandatos para dirigentes das agências reguladoras e suas conseqüências.
The author makes a critical review on the former Minister Bresser-Pereira statements on establishing mandates for leaders of regulatory agencies and its consequences.