Home | Databases | WorldLII | Search | Feedback Edited Legal Collections Data

Faure, Michael --- "Harmonisation of private law in Europe" [2017] ELECD 231; in Klick, Jonathan (ed), "The Law and Economics of Federalism" (Edward Elgar Publishing, 2017) 30

Book Title: The Law and Economics of Federalism

Editor(s): Klick, Jonathan

Publisher: Edward Elgar Publishing

ISBN (hard cover): 9781849803625

Section: Chapter 2

Section Title: Harmonisation of private law in Europe

Author(s): Faure, Michael

Number of pages: 25

Abstract/Description:

This chapter applies the economic analysis of law to the harmonization of private law in Europe. The economic starting points following from the economics of federalism are explained and the question is asked to what extent these criteria can lead to arguments in favour of centralization. Attention is paid to a variety of arguments such as cross-border externalities, the race-to-the-bottom and harmonization of marketing conditions. It is also explained to what extent these arguments were de facto used in Europe to justify harmonization of private law. To the extent that private law harmonization in Europe in some cases seems to go further than needed from an economic perspective, the question is asked what can be the explanation for the particular deviation. Interest group analysis is used to provide such an explanation.