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Articles 1 - 5 of 5
Full-Text Articles in Social and Behavioral Sciences
Pricing Compliance: When Formal Remedies Displace Reputational Sanctions, Rachel Brewster
Pricing Compliance: When Formal Remedies Displace Reputational Sanctions, Rachel Brewster
Faculty Scholarship
The conventional wisdom in international law is that dispute resolution institutions sharpen the reputational costs to states. This article challenges this understanding by examining how the inclusion of dispute resolution tribunals and remedy regimes can alter reputational analysis by shifting the audience¹s understanding of how mandatory a treaty's substantive obligations are. Drawing on the distinction between prices and sanctions, this article contests the assumption that the introduction of a remedy regime in international agreements will regularly increase compliance with the treaty¹s substantive terms. Instead, some remedy regimes may 'price' deviations from the treaty¹s terms and thereby facilitate breaches of the …
Where Should Europe’S Investment Path Lead?: Reflections On August Reinisch, “Quo Vadis Europe?”, Julie A. Maupin
Where Should Europe’S Investment Path Lead?: Reflections On August Reinisch, “Quo Vadis Europe?”, Julie A. Maupin
Faculty Scholarship
Relative to the past policies of its Member States, will the European Union’s new comprehensive international investment policy constitute a step forward, a step backward, or a perpetuation of the status quo? Professor Reinisch’s contribution to this volume opens a wide window on the current state of the debate. His cogent analysis suggests that, at present, all three possibilities remain live ones, although some basic contours of a likely trajectory are beginning to take shape. I use his musings as a springboard to investigate two questions which follow naturally from his. That is, in view of Professor Reinisch’s response to …
Transparency In International Investment Law: The Good, The Bad, And The Murky, Julie A. Maupin
Transparency In International Investment Law: The Good, The Bad, And The Murky, Julie A. Maupin
Faculty Scholarship
How transparent is the international investment law regime, and how transparent should it be? Most studies approach these questions from one of two competing premises. One camp maintains that the existing regime is opaque and should be made completely transparent; the other finds the regime sufficiently transparent and worries that any further transparency reforms would undermine the regime’s essential functioning. This paper explores the tenability of these two positions by plumbing the precise contours of transparency as an overarching norm within international investment law. After defining transparency in a manner befitting the decentralized nature of the regime, the paper identifies …
Revisiting Sovereign Bankruptcy, Lee C. Buchheit, Anna Gelpern, Mitu Gulati, Ugo Panizza, Beatrice Weder Di Mauro, Jeromin Zettelmeyer
Revisiting Sovereign Bankruptcy, Lee C. Buchheit, Anna Gelpern, Mitu Gulati, Ugo Panizza, Beatrice Weder Di Mauro, Jeromin Zettelmeyer
Faculty Scholarship
Sovereign debt crises occur regularly and often violently. Yet there is no legally and politically recognized procedure for restructuring the debt of bankrupt sovereigns. Procedures of this type have been periodically debated, but so far been rejected, for two main reasons. First, countries have been reluctant to give up power to supranational rules or institutions, and creditors and debtors have felt that there were sufficient instruments for addressing debt crises at hoc. Second, fears that making debt easier to restructure would raise the costs and reduce the amounts of sovereign borrowing in many countries. This was perceived to be against …
Globalization And Law: Law Beyond The State, Ralf Michaels
Globalization And Law: Law Beyond The State, Ralf Michaels
Faculty Scholarship
The chapter provides an introduction into law and globalization for sociolegal studies. Instead of treating globalization as an external factor that impacts the law, globalization and law are here viewed as intertwined. I suggest that three types of globalization should be distinguished—globalization as empirical phenomenon, globalization as theory, and globalization as ideology. I go on to discuss one central theme of globalization, namely in what way society, and therefore law, move beyond the state. This is done along the three classical elements of the state—territory, population/citizenship, and government. The role of all of these elements is shifting, suggesting we need …