Open Access. Powered by Scholars. Published by Universities.®
Articles 1 - 2 of 2
Full-Text Articles in Law
Capital Market Regulation In Developing Countries, Andrew T. Guzman
Capital Market Regulation In Developing Countries, Andrew T. Guzman
Andrew T Guzman
No abstract provided.
An Economic Analysis Of Transnational Bankruptcies, Andrew T. Guzman, Lucian Arye Bebchuk
An Economic Analysis Of Transnational Bankruptcies, Andrew T. Guzman, Lucian Arye Bebchuk
Andrew T Guzman
This paper analyzes the effects of the legal rules governing transnational bankruptcies. We compare a regime of “territoriality” – in which assets are adjudicated by the jurisdiction in which they are located at the time of the bankruptcy – with a regime of “universality” – in which all assets are adjudicated in a single jurisdiction. Territoriality is shown to generate a distortion in investment patterns that might lead to an inefficient allocation of capital across countries. We also analyze who gains and who loses from territoriality, explain why countries engage in it even though it reduces global welfare, and identify …