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000233173 037__ $$a1554-2016-132554
000233173 041__ $$aen_US
000233173 084__ $$aFl
000233173 084__ $$aF15
000233173 084__ $$aK33
000233173 245__ $$aArbitration in International Trade
000233173 260__ $$c1992-12
000233173 269__ $$a1992-12
000233173 300__ $$a57
000233173 336__ $$aWorking or Discussion Paper
000233173 490__ $$aWorking Paper
000233173 490__ $$aC92-003
000233173 520__ $$aThe great majority of international contracts provides that eventual disputes should be decided by arbitration. Legal scholars argue that international arbitration is leading to the development of a legal doctrine attuned to the needs of business and independent of national laws. This paper studies international arbitration as a beautiful example of the role of private trade in shaping international institutions. We review the provisions and the practice of international arbitration, and present a general equilibrium model of the relationship between the expansion of international trade and the adoption of arbitration. The model focusses on the heterogeneity existing among economic agents in terms of their legal needs. It shows how arbitration alters the size and composition of markets, while at the same time responding to exogenous changes in trade. In addition, it shows how the legal services provided by the courts deteriorate in the presence of arbitration and predicts that the share of traders using arbitration should rise as markets expand. Overall, the model does remarkably well in generating results commonly discussed in the legal literature.
000233173 542__ $$fLicense granted by Deanna Kanne (kanne053@umn.edu) on 2016-03-23T14:09:42Z (GMT):

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000233173 650__ $$aInternational Relations/Trade
000233173 6531_ $$aarbitration
000233173 6531_ $$ainternational trade law
000233173 6531_ $$ainternational economic integration
000233173 700__ $$aCasella, Alessandra
000233173 8564_ $$s10711187$$uhttp://ageconsearch.umn.edu/record/233173/files/cal-cider-c092-003.pdf
000233173 887__ $$ahttp://purl.umn.edu/233173
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  Previous issue date: 1992-12
000233173 982__ $$gUniversity of California, Berkeley>Department of Economics>Center for International and Development Economics Research (CIDER) Working Papers
000233173 980__ $$a1554