The Economics of Legal Harmonization
ENCYCLOPEDIA OF LAW AND ECONOMICS, SECOND EDITION, VOL. 7, 2011
13 Pages Posted: 13 Oct 2010 Last revised: 12 Feb 2015
Date Written: October 12, 2010
The current literature on the Economics of Legal Harmonization consists mainly in the study of contract and corporate law with the aim of verifying whether harmonization produces efficient results within the US federal context. More recent studies have begun to examine the efficiency of the harmonization process under way within the European Union with reference to the entire reach of European Law, finding that in several cases inefficient solutions have resulted. The theoretical literature on legal harmonization provides instruments that allow to identify the institutional dynamics that produce such results.
Keywords: Legal Harmonization, Economics of Federalism, Contract Law, Company Law, European Law
JEL Classification: H77, K22, K4
Suggested Citation: Suggested Citation