Global order beyond law : how information and communication technologies facilitate relational contracting in international trade / Thomas Dietz.

Format:

Book

Author/Creator:

Dietz, Thomas (Professor for Politics and Law), author.

Series:

International studies in the theory of private law ; v. 11.

International studies in the theory of private law ; v. 11

Language:

English

Subjects (All):

Contracts (International law).

Foreign trade regulation.

Physical Description:

1 online resource (272 p.)

Place of Publication:

Oxford ; Portland, Oregon : Hart Publishing, 2014.

Language Note:

English

Summary:

Well-functioning contract law is a crucial prerequisite for economic development. However, even though international trade has increased enormously in recent decades, we still know little about the contract enforcement mechanisms that exist in today's globalised markets. The aim of this work is to shed light on the governance of complex cross-border contracts by developing a comprehensive theoretical framework for understanding the relevance of both formal and informal institutions. This framework is then applied to an empirical study of cross-border software development contracts. Combining a unique data set of 41 qualitative expert interviews with statistical data and surveys, the author demonstrates that state contract laws show fundamental signs of dysfunction across borders. Companies engaged in globalised exchange therefore rarely use this mechanism. Even the European Union's supranational enforcement order is, in practice, insignificant. Against all expectations, international commercial arbitration also turns out to be limited in its ability to provide a workable legal infrastructure for global commerce. With global trade lacking a reliable formal legal order, companies have reacted by creating their own informal governance structures. This book explains how complex exchange in global markets has emerged in the absence of a global legal order

Contents:

Introduction

Contract enforcement institutions

State-enforced contract law and the development of modern market economies

Does globalisation lead to a decline of state contract law?

Research design

Scenario 1 : how German companies enforce contracts when buying software products in Asia and Eastern Europe

How Bulgarian and Romanian firms enforce contracts when selling software products to OECD countries

How Indian firms enforce contracts when selling software products to OECD countries

How contracts between German buyers and suppliers from Bulgaria and Romania are enforced after Bulgaria and Romania entered the EU

Overall results

Economic globalisation and the decline of state contract law

The limits of international commercial arbitration

ICT and the rise of informal contract enforcement institutions in global markets.

Notes:

Description based upon print version of record.

Includes bibliographical references (pages 237-246) and index.

ISBN:

9781509907434

1509907432

9781474202008

1474202004

9781782253914

1782253912

OCLC:

1154907062