Global Governance from the Perspective of Law and Economics
Global Governance from the Perspective of Law and Economics

Summary/Abstract: The globalization process of the last decades has challenged the theoretical approaches of economics, particularly in the field of governance. This is the case with law and economics insofar as global rules, in conformity with economic principles, are necessary to govern the increasing interdependence that emerges from larger and deeper relationships, particularly between national governments, transnational firms and international institutions, that characterize globalization. Considering global governance as the management of the world economy in a way that accommodates the interests of its diverse players, it is clear that there is no system of law that covers the global marketplace, at least in some important respects. Moreover, many of the globally relevant laws and rules are drawn up at a nation-state

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