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Articles 1 - 7 of 7
Full-Text Articles in Law
Experimentalist Governance, Charles F. Sabel, Jonathan Zeitlin
Experimentalist Governance, Charles F. Sabel, Jonathan Zeitlin
Faculty Scholarship
This article discusses the concept of the so-called experimentalist governance. It explains that the experimentalist architecture in regulation is well illustrated by the European Union Water Framework Directive (WFD) and its Common Implementation Strategy. The article suggests that experimentalism appears particularly well suited to transnational domains, where there is no overarching sovereign with the authority to set common goals even in theory, and where the diversity of local conditions and practices makes the adoption and enforcement of uniform fixed rules even less feasible than in domestic settings.
Sovereign Wealth Funds And Global Finance, Katharina Pistor
Sovereign Wealth Funds And Global Finance, Katharina Pistor
Faculty Scholarship
This chapter focuses on a number of specific sovereign wealth funds (SWFs) whose portfolios indicate strong interests in finance both in their home countries and abroad. It first reviews empirical evidence that shows SWFs having been major investors in Western financial intermediaries for decades. It then considers the organization and governance of SWFs, with particular emphasis on the three main schools of thought as well as the predictions one can derive from them vis-à-vis the behavior of individual actors in the global financial network: economic theories, economic sociology, and political economy. It also presents case studies that “test” these theories …
The Governance Of China’S Finance, Katharina Pistor
The Governance Of China’S Finance, Katharina Pistor
Faculty Scholarship
This chapter examines the governance of China's financial system, which, it shows, cannot be adequately explained using conventional paradigms that rely on ownership and legal or regulatory controls alone. Instead, China's governance regime relies heavily on human resource management, which uses control rights over the career path of top-level financial cadres. A commentary is included at the end of the chapter.
Microinsurance: A Case Study Of The Indian Rainfall Index Insurance Market, Xavier Giné, Lev Menand, Robert W. Townsend, James Vickery
Microinsurance: A Case Study Of The Indian Rainfall Index Insurance Market, Xavier Giné, Lev Menand, Robert W. Townsend, James Vickery
Faculty Scholarship
Efforts have been made in India and other countries in recent years to develop formal insurance markets to improve diversification of weather-related income shocks. This article aims to survey the features of one of these markets, the Indian rainfall index insurance market. “Index insurance” refers to a contract whose payouts are linked to a publicly observable index; in this case, the index is cumulative rainfall recorded on a local rain gauge during different phases of the monsoon season. This form of insurance is now available at a retail level in many parts of India, although these markets are still in …
Dispersed Ownership: The Theories, The Evidence, And The Enduring Tension Between "Lumpers" And "Splitters", John C. Coffee Jr.
Dispersed Ownership: The Theories, The Evidence, And The Enduring Tension Between "Lumpers" And "Splitters", John C. Coffee Jr.
Faculty Scholarship
This article argues that dispersed ownership resulted less from inexorable forces and more from private ordering. Neither legal nor political conditions mandated or prevented the appearance of dispersed ownership. Rather, entrepreneurs, investment bankers, and investors — all seeking to maximize value — sometimes saw reasons why selling control into the public market would maximize value for them. But when and why? That is the article's focus. It argues that law played less of a role than specialized intermediaries — investment banks, securities exchanges, and other agents — who found it to be in their self-interest to foster dispersed ownership and …
Overcriminalization For Lack Of Better Options: A Celebration Of Bill Stuntz, Daniel C. Richman
Overcriminalization For Lack Of Better Options: A Celebration Of Bill Stuntz, Daniel C. Richman
Faculty Scholarship
The unity of Bill Stuntz's character – his profound integrity – makes it easy to move from a celebration of his friendship (which I’ve treasured since we first met back in 1985) to one of his scholarship, for creativity, wisdom, and humility are strengths not just of Bill himself but of his work. Even as his broad brush strokes have fundamentally advanced our understanding of the interplay between substantive criminal law, criminal procedure, and criminal justice institutions over time, Bill's work – like Bill himself – welcomes and endures sustained engagement. Humility is appropriate for me, too, as I offer …
Federalism As A Safeguard Of The Separation Of Powers, Jessica Bulman-Pozen
Federalism As A Safeguard Of The Separation Of Powers, Jessica Bulman-Pozen
Faculty Scholarship
States frequently administer federal law, yet scholars have largely overlooked how the practice of cooperative federalism affects the balance of power across the branches of the federal government. This Article explains how states check the federal executive in an era of expansive executive power and how they do so as champions of Congress, both relying on congressionally conferred authority and casting themselves as Congress's faithful agents. By inviting the states to carry out federal law, Congress, whether purposefully or incidentally, counteracts the tendency of statutory ambiguity and broad delegations of authority to enhance federal executive power. When states disagree with …