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Full-Text Articles in Law
Can Smart Contracts Enhance Firm Efficiency In Emerging Markets?, Kevin J. Fandl
Can Smart Contracts Enhance Firm Efficiency In Emerging Markets?, Kevin J. Fandl
Northwestern Journal of International Law & Business
Blockchain technology has the potential to eliminate one of the most significant barriers to economic growth through private business transactions in developing countries—lack of trust. In a typical developed country, individuals and firms conduct transactions within an institutional environment that offers security through the enforcement of agreements. Transparent and effective courts, while imperfect to be sure, enable parties to feel secure in their transactions even if their level of trust in the other party is low. This security, in turn, facilitates transactions far afield from high-trust relationships (e.g., immediate relatives), generating transactions based upon economic value rather than party trust …
Bilateral Investment Treaties And The Possibility Of A Multilateral Framework On Investment At The Wto: Are Poor Economies Caught In Between, Victor Mosoti
Northwestern Journal of International Law & Business
The increased Foreign Direct Investment ("FDI") flows in the past few years have strengthened the belief among many developing countries, especially African countries, that such FDI flows could help in reducing the resource, technology and foreign exchange gaps that constrain their economic development. As a result, many developing countries have beendiligently working to attract foreign investment, for which these countries give some of the highest returns; in the process, these countries make concessions that they would have found unthinkable in the past, when autarchic economic policies were prevalent. For example, due to the liberalization of capital accounts, a foreign investor …