Harmonization of European Private Law: An Economic Analysis

21 Pages Posted: 16 Sep 2007

See all articles by Francesco Parisi

Francesco Parisi

University of Minnesota - Law School; University of Bologna

Date Written: September 11, 2007


The optimal scope of legal harmonization and the desirable patterns of lawmaking vary according to current legal, social and economic conditions. In this paper we specify a positive and testable hypothesis according to which legal systems respond to exogenous changes in the external environment by adopting varying patterns of lawmaking, thus maximizing the value of legal intervention. The anecdotal historical evidence discussed in this paper is consistent with this hypothesis. Modern codifications are a good piece of evidence to consider, since they were written and enacted in a unitary fashion.

Keywords: Legal Harmonization, Optimal Design of Codes, Legal Change

JEL Classification: K10, K33, D70

Suggested Citation

Parisi, Francesco, Harmonization of European Private Law: An Economic Analysis (September 11, 2007). Minnesota Legal Studies Research Paper No. 07-41. Available at SSRN: https://ssrn.com/abstract=1014385 or http://dx.doi.org/10.2139/ssrn.1014385

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

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