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Economic Approaches To Global Regulation: Expanding The International Law And Economics Paradigm, Dan Danielsen
Economic Approaches To Global Regulation: Expanding The International Law And Economics Paradigm, Dan Danielsen
Dan Danielsen
The recent economic crisis has demonstrated with startling clarity the importance of developing a more robust framework for assessing the effects of national rules on global welfare. For more than fifty years, law and economics scholars have examined the effects of domestic legal rules on economic activity and general welfare in the United States. More recently, international law scholars have begun to use economic methods to analyze the international legal order. In this article I survey this evolving body of “international law and economics scholarship” with a view to articulating its principle methodological innovations as well as assessing its contributions …
Local Rules And A Global Economy: An Economic Policy Perspective, Dan Danielsen
Local Rules And A Global Economy: An Economic Policy Perspective, Dan Danielsen
Dan Danielsen
This article explores the growing significance and theoretical implications of ‘local rules’—such as Chinese labour standards, US financial regulation and Swiss bank secrecy rules—in the global economy. In particular, the argument developed is that Ronald Coase’s framework for analysing the effects of legal rules on economic welfare can help to reveal important weaknesses in current international legal approaches to analysing the transnational impact of local rules as well as contribute to a ‘global economic policy perspective’ better attuned to problems of power in the global regulatory order. Such a perspective will help us to see the effects of power differences …