Fabrizio Cafaggi

This book introduces and develops the paradigm of the organisational contract in European contract law. Suggesting that a more radical distinction should be made between contracts which regulate single or spot exchanges and contracts that organize complex economic activities without creating a new legal entity, the book argues that this distinction goes beyond that between spot and relational contracts because it focuses on the organizational dimension of contracting and its governance features. Divided into six parts, the volume brings together a group of internationally renowned experts to examine the structure of long-term contractual cooperation; networks of contracts; knowledge exchange in long-term contractual cooperation; remedies and specific governance rules in long-term relationships; and the move towards legislation. The book will be of value to academics and researchers in the areas of private law, economic theory and sociology of law, and organizational theory. It will also be a useful resource for practitioners working in international contract law and international business transaction law.

This book addresses the lively interaction between the disciplines of law and economics. The traditional boundaries of these two disciplines have somehow inhibited a full understanding of the functioning of and the evolution of economic and legal systems. It has often been the case that these boundaries have had to be reshaped, and sometimes abolished, before either one of the two disciplines could successfully clarify the real life problems arising from the complex institutions of contemporary societies. The contributions to this volume encompass some of the core controversial issues in law and economics arising from interactions between legal orderings and economic institutions. They include:the nature of institutional and legislative change and the emergence of strong institutional complementarity in legal positionsthe relationship between private orderings and the role of the State in enforcing contracts and defining property rightsthe nature and dynamics of endogenous enforcement and the analysis of governance models and corporate ethics.Part of the renowned Siena Studies in Political Economy series, this book will be an essential read for postgraduates and researchers in the fields of law and economics, and the economics of institutions.

This book introduces and develops the paradigm of the organisational contract in European contract law. Suggesting that a more radical distinction should be made between contracts which regulate single or spot exchanges and contracts that organize complex economic activities without creating a new legal entity, the book argues that this distinction goes beyond that between spot and relational contracts because it focuses on the organizational dimension of contracting and its governance features. Divided into six parts, the volume brings together a group of internationally renowned experts to examine the structure of long-term contractual cooperation; networks of contracts; knowledge exchange in long-term contractual cooperation; remedies and specific governance rules in long-term relationships; and the move towards legislation. The book will be of value to academics and researchers in the areas of private law, economic theory and sociology of law, and organizational theory. It will also be a useful resource for practitioners working in international contract law and international business transaction law.

This thought-provoking book adds a new perspective to the analysis of how regulation should respond to the global financial crisis of 2008 2009. It focuses on the 'private' as opposed to 'public' aspect of regulation, and highlights the works of the public-private dialectic in regulation and enforcement.The expert authors examine what is perhaps the single most important sector in which public and private regulation and enforcement intersect: the arena of banking and global finance. The detailed analysis of these particular areas of finance thus provides a means for investigating aspects of the important topic of private regulation and enforcement in financial markets. A number of pertinent questions are addressed, including: How does private regulation and enforcement enhance or detract from the legitimacy of the process by which these market segments are managed and controlled? How does private regulation and enforcement manifest independence of action and judgment, as compared with public regulation? How does private regulation and enforcement measure up along dimensions of quality, relative to public regulation? and, finally, What forms of accountability characterize private as opposed to public regulation and enforcement?Illustrating the works of the public-private dialectic in regulation and enforcement, this challenging book will prove a fascinating read for academics, scholars and practitioners with an interest in regulation and governance issues, and in financial and banking law.Contents: Preface 1. Private Regulation of Internationally Active Financial Services Firms 2. Private Regulation in the Credit Default Swaps Market: The Role of ISDA in the New Regulatory Scenario of CDSs 3. Private Regulation and Enforcement in Microfinance: A Multilayered and Polycentric Puzzle 4. Governing Global Payments Markets: International Payments Forum - A New Actor on the Scene 5. The Legitimacy and Accountability of the IASB as an International Standard Setter 6. The Internal Ratings-based and Advanced Measurement Approaches for Regulatory Capital under the 'Basel Regime' Index

This book addresses the lively interaction between the disciplines of law and economics. The traditional boundaries of these two disciplines have somehow inhibited a full understanding of the functioning of and the evolution of economic and legal systems. It has often been the case that these boundaries have had to be reshaped, and sometimes abolished, before either one of the two disciplines could successfully clarify the real life problems arising from the complex institutions of contemporary societies. The contributions to this volume encompass some of the core controversial issues in law and economics arising from interactions between legal orderings and economic institutions. They include:the nature of institutional and legislative change and the emergence of strong institutional complementarity in legal positionsthe relationship between private orderings and the role of the State in enforcing contracts and defining property rightsthe nature and dynamics of endogenous enforcement and the analysis of governance models and corporate ethics.Part of the renowned Siena Studies in Political Economy series, this book will be an essential read for postgraduates and researchers in the fields of law and economics, and the economics of institutions.