Economic Analysis of Compensation for Oil Pollution Damage

Posted: 8 Apr 2008 Last revised: 23 Oct 2013

See all articles by Michael G. Faure

Michael G. Faure

University of Maastricht - Faculty of Law, Metro; Erasmus University Rotterdam (EUR) - Erasmus School of Law

Hui Wang

KU Leuven

Date Written: 2006

Abstract

This paper provides an economic analysis of Chinese law with respect to the compensation for oil pollution damage. A few features of the current Chinese compensation regime are examined, using traditional economic analysis of law. Also differences between Chinese law and the international conventions (for example the fact the Chinese law has no compulsory insurance and lacks a compensation fund) are discussed. The goal of that chapter is to examine critically the compensation for oil pollution damage under Chinese law from a law and economics perspective. After an introduction, a brief overview of Chinese law is provided. Next a critical economic analysis of specific interesting aspects of Chinese law relating to the compensation for oil pollution damage is provided and a few policy recommendations are formulated, indicating how Chinese law might benefit from the lessons of economic analysis.

Keywords: economic analysis, compensation, oil pollution damage, law and economics perspective

JEL Classification: K10, K32, K33

Suggested Citation

Faure, Michael G. and Wang, Hui, Economic Analysis of Compensation for Oil Pollution Damage (2006). Journal of Maritime Law and Commerce, Vol. 37, pp. 179-217, 2006; Maastricht Faculty of Law Working Paper , Forthcoming. Available at SSRN: https://ssrn.com/abstract=1116170

Yleen Simonis (Contact Author)

METRO ( email )

P.O.Box 616
Maastricht, 6200 MD
Netherlands

Michael G. Faure

University of Maastricht - Faculty of Law, Metro ( email )

PO Box 616
Maastricht, 6200 MD
Netherlands
+31 - 43 - 388 30 60 (Phone)
+31 - 43 - 325 90 91 (Fax)

HOME PAGE: http://www.michaelfaure.be

Erasmus University Rotterdam (EUR) - Erasmus School of Law ( email )

3000 DR Rotterdam
Netherlands

Hui Wang

KU Leuven ( email )

Oude Markt 13
Leuven, Vlaams-Brabant 3000
Belgium

Register to save articles to
your library

Register

Paper statistics

Abstract Views
1,037
PlumX Metrics