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Articles 1 - 3 of 3
Full-Text Articles in Law
The Global Architecture Of Financial Regulatory Taxes, Carlo Garbarino, Giulio Allevato
The Global Architecture Of Financial Regulatory Taxes, Carlo Garbarino, Giulio Allevato
Michigan Journal of International Law
This Article endeavors to broaden the analysis of available policy tools to address the problems created by financial crises and discusses how, in addition to direct regulation, certain tax measures having a regulatory nature may operate to address the so-called “negative externalities” often associated with those crises. There is a negative externality when an economic agent making a decision does not pay the full cost of the decision’s consequences. In such cases, the cost to society as a whole is greater than the cost borne by the individuals creating the economic impact. In practice, negative externalities result in market inefficiencies …
On Territoriality And International Investment Law: Applying China's Investment Treaties To Hong Kong And Macao, Odysseas G. Repousis
On Territoriality And International Investment Law: Applying China's Investment Treaties To Hong Kong And Macao, Odysseas G. Repousis
Michigan Journal of International Law
To date, investor-state tribunals have been preoccupied with a range of issues revolving around the territorial application (territoriality) of international investment agreements (IIAs). The importance, as well as the various forms such issues take, has recently been highlighted in the decision of the Singapore High Court (SGHC) in Laos v. Sanum. In this case, the SGHC was asked by Laos to set aside an earlier arbitral award (in Sanum v. Laos), filed by a Macanese legal entity and rendered under the China-Laos bilateral investment treaty (BIT). In approaching the matter, the SGHC set aside the award on the grounds that …
A Framework For A Formal Sovereign Debt Restructuring Mechanism: The Kiss Principle (Keep It Simple, Stupid) And Other Guiding Principles, Charles W. Mooney Jr.
A Framework For A Formal Sovereign Debt Restructuring Mechanism: The Kiss Principle (Keep It Simple, Stupid) And Other Guiding Principles, Charles W. Mooney Jr.
Michigan Journal of International Law
This paper explores the feasibility of a formal legal regime for the restructuring of sovereign state debt and outlines a framework for such a mechanism. More than a decade ago, senior officials at the International Monetary Fund (IMF) proposed the creation of a formal sovereign debt restructuring mechanism (SDRM). The proposal received support, but was eventually abandoned. One factor that contributed to its demise was the unwillingness of IMF members to submit to a tribunal that would encroach on a state’s sovereignty. Another determinative factor was the ultimate opposition of the United States. Likely related to that opposition, and perhaps …