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http://ssrn.com/abstract=870519
 
 

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The Paradox of Legal Harmonization


Emanuela Carbonara


University of Bologna - Department of Economics

Francesco Parisi


University of Minnesota - Law School; University of Bologna


Public Choice, 2007
George Mason Law & Economics Research Paper No. 05-40
Minnesota Legal Studies Research Paper No. 07-14

Abstract:     
The legal landscape is changing, adapting to the global market. Differences between legal systems hinder transnational commerce. Countries reduce legal differences through non-cooperative and cooperative adaptation processes that alternatively lead to legal transplantation or harmonization. Switching costs render unification difficult. Cooperation reduces differences to a greater extent but rarely leads to legal unification. In this paper we unveil a paradox of legal harmonization. When switching costs are endogenous, countries engaging in cooperative harmonization may end up with less harmonization than those pursuing non-cooperative strategies.

Number of Pages in PDF File: 43

Keywords: legal harmonization, legal transplantation, transnational contracts, legal change

JEL Classification: K10, K33, D70

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Date posted: December 16, 2005  

Suggested Citation

Carbonara, Emanuela and Parisi, Francesco, The Paradox of Legal Harmonization. Public Choice, 2007; George Mason Law & Economics Research Paper No. 05-40; Minnesota Legal Studies Research Paper No. 07-14. Available at SSRN: http://ssrn.com/abstract=870519

Contact Information

Emanuela Carbonara
University of Bologna - Department of Economics ( email )
Piazza Scaravilli 2
Bologna, 40126
Italy
+39 051 2098149 (Phone)
+39 051 2098040 (Fax)
Francesco Parisi (Contact Author)
University of Minnesota - Law School ( email )
229 19th Avenue South
Minneapolis, MN 55455
United States
University of Bologna ( email )
Piazza Scaravilli 1
40126 Bologna, fc 47100
Italy
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