Law and Economics Commons^™

¿Qué Es Transparencia?, Rafael Ramírez Villaescusa

Rafael Ramírez Villaescusa

El reciente proceso de consolidación democrática experimentado por México en la última década ha estado acompañado de una serie de políticas públicas encaminadas a fortalecer la participación ciudadana dentro de la toma de decisiones, así como la rendición de cuentas gubernamental. Una de esas acciones consistió en la promulgación, durante el sexenio del Presidente Fox, de la Ley Federal de Transparencia y Acceso a la Información Pública Gubernamental. Lo anterior, además, se inscribió en el contexto de un movimiento global a favor del derecho a saber, impulsado por diversas organizaciones internacionales. Parece ser que la transparencia llegó para quedarse, lo …

On The Interpretability Of Law: Lessons From The Decoding Of National Constitutions, Tom Ginsburg, James Melton, Zachary Elkins, Kalev Leetaru

Tom Ginsburg

An implicit element of many theories of constitutional enforcement is the degree to which those subject to constitutional law can agree on what its provisions mean (call this constitutional interpretability). Unfortunately, there is little evidence on baseline levels of constitutional interpretability or the variance therein. This article seeks to fill this gap in the literature, by assessing the effect of contextual, textual and interpreter characteristics on the interpretability of constitutional documents. Constitutions are found to vary in their degree of interpretability. Surprisingly, however, the most important determinants of variance are not contextual (for example, era, language or culture), but textual. …

Enfoques Teóricos De Las Reglas Por Defecto En El Derecho De Contratos: Complementariedades, Coincidencias Y Contradicciones, Daniel Monroy

Daniel A Monroy C

El artículo muestra una lectura crítica en lo que respecta a la noción, las funciones y el diseño de las reglas por defecto en el derecho de contratos a partir de tres enfoques teóricos a saber: la perspectiva jurídica tradicional; la visión del Análisis Económico del Derecho (AED) en su versión clásica y; el enfoque del denominado behavioral law and economics (BL&E). El documento destaca con particular atención que en lo correspondiente a la noción y las funciones de las reglas por defecto en el derecho de contratos, existe un alto nivel de coherencia entre la perspectiva jurídica tradicional por …

Toward A Legal Theory Of Finance, Katharina Pistor

Katharina Pistor

This paper develops the building blocks for a legal theory of finance. LTF holds that financial markets are legally constructed and as such occupy an essentially hybrid place between state and market, public and private. At the same time, financial markets exhibit dynamics that frequently put them in direct tension with commitments enshrined in law or contracts. This is the case especially in times of financial crises when the full enforcement of legal commitments would result in the self-destruction of the financial system. This law-finance paradox tends to be resolved by suspending the full force of law where the survival …

¿Obama O Romney?, Alejandro Faya Rodriguez

Alejandro Faya Rodriguez

No abstract provided.

Deciphering Pakistan's Investment Policy: A Review Of Pakistani Bits, Nida Mahmood, Ahmad Ali Ghouri

Nida Mahmood Ms

This study presents the first ever comprehensive analysis of Pakistani foreign investment treaty regime, which consists of 47 BITs as of 15 June, 2012. This study provides a provision by provision comparison of all 47 Pakistani BITs. The objective is to identify similarities and differences in these BITs, explaining legal implications of their individual provisions and suggesting policy changes for future BITs in the light of existing and emerging state practices. The overall purpose is to identify policy implications of the BITs regime for Pakistan. Looking forward, the study inquires how to enhance foreign investors’ confidence and to promote and …

Reforma Laboral Y Sus Efectos, Alejandro Faya Rodriguez

Alejandro Faya Rodriguez

No abstract provided.

La Experiencia Chilena Disuadiendo Ilícitos Corporativos, Diego G. Pardow

Diego G. Pardow

This paper analyzes the investigations on potential misconducts conducted by the Chilean public enforcer (Superintendencia de Valores y Seguros, “SVS”) between 1990 and 2012. The evidence reveals two groups of problems: on the one hand, the SVS has leaved a substantial region of the market unmonitored; on the other hand, the level of specific deterrence is generally low and relies greatly on indirect mechanisms of punishment. Such results suggest that future reforms should facili- tate private enforcement on both the extensive and the intensive margin. Whereas improving the performance of the SVS on the extensive margin should mitigate its monitoring …

Transparencia Y Anticorrupción, Primera Llamada De Peña, Norma E. Pimentel

Norma E Pimentel

No abstract provided.

Transparencia Y Feuderalismo, Alejandro Faya Rodriguez

Alejandro Faya Rodriguez

No abstract provided.

Law And Finance In The Context Of Crisis: The Imperative Of Structural Vision, Tamara Lothian

Tamara Lothian

This piece explores the worldwide response to the recent financial and economic crisis through a comparative analysis of financial crisis, regulation and reform in the US and in several emerging market countries.

Two main ideas inform my argument.

The first idea is the inadequacy of ways of dealing with the crisis that fail to enlist finance more effectively in the service of the real economy, rather than allowing it to serve itself, and that misunderstand globalization as an unyielding constraint on institutional experimentation at home. A wide range of historical and contemporary examples helps make the point.

The second idea …

Towards A New Transition Economics, Katharina Pistor

Katharina Pistor

In these brief comments I take issue with the thesis expressed in Konstantin Sonin’s conference review that economic transition is a thing of the past. To the contrary, I argue that it has only just begun and so has the process of rethinking the economic theories and models that have framed the subfield of transition economics. Specifically, I point out that the many surprises economists have encountered when confronted with the actual results of the transition process reveal deeper flaws in the analytical framework that informs their analyses and policy prescriptions. If protecting theories and models is of first order …

The Role Tax Preparers Play In Taxpayer Compliance - An Empirical Investigation With Policy Implications, Sagit Leviner Dr.

Sagit Leviner Dr.

In January 2010, the IRS published its Return Preparer Review Final Report, recommending extensive increases in oversight of the tax return preparer industry. The IRS suggests achieving these increases in oversight through numerous measures, including preparer registration, competency testing, continuing professional education, ethical standards, and enforcement. Effective August, 2011, new paid preparer regulation requires all tax return preparers who offer their services for a fee to register and obtain a unique Preparer Tax Identification Number (PTIN) that must be used to sign all returns they prepare. Given that additional preparer regulation is expected to come into effect within the next …

Estado Y Mercado, Alejandro Faya Rodriguez

Alejandro Faya Rodriguez

No abstract provided.

Incentivos Y Más Incentivos, Alejandro Faya Rodriguez

Alejandro Faya Rodriguez

No abstract provided.

Caremark's Irrelevance, Mercer E. Bullard

Mercer E Bullard

In re Caremark Int’l Inc. Derivative Litig. is commonly held out as the iconic corporate law case on liability for a failure of legal compliance, but the true source of corporate law as to legal compliance is the higher standard established by other sources of law. The expected cost of liability, both criminal and civil, for violations of federal healthcare regulations, for example, is a far stronger determinant of corporate compliance systems than potential liability under Caremark. Other areas of industry-specific regulation, such as for financial services, telecommunications and energy, similarly play a greater role than state corporate law in …

La Calidad De Los Productos En El Marco Del Estatuto Del Consumidor En Colombia: Aproximación Crítica Desde La Teoría Microeconómica., Daniel Monroy

Daniel A Monroy C

El presente escrito presenta una aproximación crítica al Estatuto del Consumidor en Colombia (Ley 1480 de 2011), específicamente en lo relacionado con la definición y la aplicación del término “calidad” de los productos especificado en la misma norma, haciendo uso para los efectos de algunas premisas y criterios normativos deducibles de la teoría microeconómica. El documento demuestra que, si bien en varios aspectos, la aproximación jurídica que se le da a la noción de “calidad” se alinea adecuadamente con ciertos criterios deducibles de la teoría económica, en otros aspectos entra en contradicción con la misma, particularmente por el hecho que …

Los Contratos Con Eficacia De Protección A Terceros: A Proposito De La Responsabilidad Civil Causada Por Daños A Los Terceros, Daniel Alexander Febrero Frantzen

Daniel Alexander Febrero Frantzen

No abstract provided.

Principio De Solidaridad, Acciones Populares Y Derechos Colectivos En Colombia: Aproximaciones Críticas A La Sentencia C-630 Del 2011 De La Corte Constitucional, Daniel Monroy

Daniel A Monroy C

ABSTRACT

This article presents a serious rapprochement to the arguments that the Constitutional Court put forward in the judgment C- 630 of 2011. The main objective of this article is to prove the weakness of the arguments, especially on those that are supported in the constitution´s principle of solidarity and those that derive in “duties’s consideration. This article beginning with some critiques to the class actions rights and it protection´s mechanism, bases in economic analysis. Afterward, base in the general description that the court have establish in the principle of solidarity, this article explain the different way how the court …

El Derecho Al Trato Justo, A La Equidad Y A La Educación Financiera De Los Consumidores, Jose R. Nina Cuentas

Jose R. Nina Cuentas

Tema de Protección del Usuario Financiero en la Contratación de Créditos de Consumo.

What Should We Expect From The Dodd-Frank Bounty Program?, Diego G. Pardow

Diego G. Pardow

Among other changes, the Dodd–Frank bounty program substantially increases the size of the rewards. The supporters argue that the program should encourage more players to step in, whereas the critics claim that it would only increase less reliable whistleblowers. This note describes the economic reasoning behind the dispute, attempting to build a reasonable expectation in light of the available empirical data. Although most of the evidence from previous bounty programs sides with the supporter’s theory, it has to be considered that the quantity and quality of whistleblower reporting are not the only relevant factors. Whistleblowers play a key role diversifying …

Competencia En Tv, Alejandro Faya Rodriguez

Alejandro Faya Rodriguez

No abstract provided.

Hacer (Bien) Las Reformas, Alejandro Faya Rodriguez

Alejandro Faya Rodriguez

No abstract provided.

The Female-Firm Under-Performance Hypothesis And Gender Disparity In The Laws, Mohammad Amin

Mohammad Amin

Using firm-level data on developing countries, the present paper explores and extends the well-known female-firm under-performance hypothesis. Using firm-size as the measure of performance, we contribute to the literature in three important ways. First, in contrast to existing studies that focus on the gender of the owner(s), we focus on the gender of the top manager of the firm. Hence, a new dimension of female vs. male-firms is suggested. Second, we argue that the gender-based difference in firm-size in favor of men need not be uniform across countries. Specifically, we argue that it is likely to be larger in countries …

On The Theoretical Foundations For Regulating Financial Markets, Katharina Pistor

Katharina Pistor

How we think about financial markets determines how we regulate them. Since the 1970s modern finance theory has shaped how we think about and regulate financial markets. It is based on the notion that markets are or can be made (more) efficient. Financial markets have been deregulated when they were thought to achieve efficient outcomes on their own; and regulation was designed to lend crutches to them when it appeared that they needed support. While modern finance theory has suffered some setbacks in the aftermath of the global crisis, defenders hold that improving market efficiency should still be the overriding …

Running In The Shadows, Joshua A. Craven

joshua a craven

The financial crisis of 2007-2008 can be characterized as a run on the shadow banking system. Over several decades, the United States slowly and quietly developed a massive shadow banking system—a complex chain of borrowers and investors entering into repo agreements financed by money-market mutual funds and primary dealers, collateralized with asset-backed securities derived from mortgages originated by lenders and securitized through special purpose vehicles, then purchased by banks with capital raised by entering into repo agreements. For years, this chain of transactions operated to meet banks’ short-term liquidity needs, until uncertainty in the value of the asset-backed securities used …

El Rostro Público De La Propaganda Administrativa, Norma E. Pimentel

Norma E Pimentel

No abstract provided.

Regulatory Challenges For Mvnos In Latin America, Víctor Pavón-Villamayor

Víctor Pavón-Villamayor

No abstract provided.

Judicial Re-Use:«Codification» Or Return Of Hegelism? The Comparative Arguments In The “South” Of The World, Prof. Michele Carducci

Michele Carducci Prof.

No abstract provided.

Cuando La Educación Sea Diferente, Norma E. Pimentel

Norma E Pimentel

No abstract provided.