Interjurisdictional Linkages and the Scope for Interventionist Legal Harmonization
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Andrzej Baniak
Abstract
We study the desirability of interventionist harmonization of legal standards across multiple, mutually interdependent jurisdictions which strive to adapt law to their local conditions, as well as to synchronize it with other jurisdictions. In a setting where jurisdictions are privately informed about their local conditions, we contrast the regime of decentralized standard-setting with two means of interventionist harmonization: through centralization and through allocation of lawmaking authority to a particular jurisdiction. Our analysis illuminates the importance of patterns of interjurisdictional linkages in delineating the scope for, and the appropriate means of, interventionist harmonization. We find that greater jurisdictional interdependence – the hallmark of globalization – does not per se justify interventionist harmonization, unless increased interdependence results in notable asymmetries in the pattern of jurisdictional interdependence. We also show that, in the presence of cross-jurisdictional externalities, harmonization is, contrary to conventional predictions, not desirable when local preferences are homogeneous across jurisdictions.
©2012 Walter de Gruyter GmbH & Co. KG, Berlin/Boston
Artikel in diesem Heft
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- Introduction: CESifo Conference in Law and Economics - Munich, May 2010
- Damages for Breach of Duty in Corporate Disclosure
- 'Take It or Go to Court': The Impact of Sec. 1a of the German Protection Against Dismissal Act on Severance Payments
- Interjurisdictional Linkages and the Scope for Interventionist Legal Harmonization
- The Law and Economics Analysis of Intellectual Property: Paradigmatic Shift From Incentives to Traditional Property
- Class Actions, Compliance and Moral Cost
- The Law and Economics of Enhancing Cartel Enforcement: Using Information From Non-Cartel Investigations to Prosecute Cartels
- Media and Litigation
- Shooting Rampages and Maintenance of Campus Safety: An Incomplete Contracts Perspective
- Competition, Imitation, and R&D Productivity in a Growth Model with Industry-Specific Patent Protection
Artikel in diesem Heft
- Article
- Introduction: CESifo Conference in Law and Economics - Munich, May 2010
- Damages for Breach of Duty in Corporate Disclosure
- 'Take It or Go to Court': The Impact of Sec. 1a of the German Protection Against Dismissal Act on Severance Payments
- Interjurisdictional Linkages and the Scope for Interventionist Legal Harmonization
- The Law and Economics Analysis of Intellectual Property: Paradigmatic Shift From Incentives to Traditional Property
- Class Actions, Compliance and Moral Cost
- The Law and Economics of Enhancing Cartel Enforcement: Using Information From Non-Cartel Investigations to Prosecute Cartels
- Media and Litigation
- Shooting Rampages and Maintenance of Campus Safety: An Incomplete Contracts Perspective
- Competition, Imitation, and R&D Productivity in a Growth Model with Industry-Specific Patent Protection
