This paper reconsiders the predominant typology pioneered by Baumol (1990) between productive, unproductive and destructive entrepreneurship. Baumol's classificatory scheme is built around a limited concept of first-best outcomes and therefore easily fails to appreciate the true impact of entrepreneurship in real world circumstances characterized by suboptimal institutions. We present an alternative way of generalizing the notion of entrepreneurship and show how and why it encompasses the Baumol typology as a special case. Our main distinction is between business and institutional entrepreneurship. We draw on Schumpeter's notion of creative destruction and reintroduce the entrepreneur as a potential disturber of an institutional equilibrium. Various subsets of institutional entrepreneurship are posited and discussed. It is shown that changing the workings of institutions constitutes an important set of entrepreneurial profit opportunities. An implication of this is that entrepreneurial efforts to reform or offset inefficient institutions can in some cases be welfare-improving.
{"title":"Entrepreneurship and Second-Best Institutions: Going Beyond Baumol's Typology","authors":"Robin Douhan, Magnus Henrekson","doi":"10.2139/ssrn.1273561","DOIUrl":"https://doi.org/10.2139/ssrn.1273561","url":null,"abstract":"This paper reconsiders the predominant typology pioneered by Baumol (1990) between productive, unproductive and destructive entrepreneurship. Baumol's classificatory scheme is built around a limited concept of first-best outcomes and therefore easily fails to appreciate the true impact of entrepreneurship in real world circumstances characterized by suboptimal institutions. We present an alternative way of generalizing the notion of entrepreneurship and show how and why it encompasses the Baumol typology as a special case. Our main distinction is between business and institutional entrepreneurship. We draw on Schumpeter's notion of creative destruction and reintroduce the entrepreneur as a potential disturber of an institutional equilibrium. Various subsets of institutional entrepreneurship are posited and discussed. It is shown that changing the workings of institutions constitutes an important set of entrepreneurial profit opportunities. An implication of this is that entrepreneurial efforts to reform or offset inefficient institutions can in some cases be welfare-improving.","PeriodicalId":383948,"journal":{"name":"New Institutional Economics","volume":"23 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2008-09-25","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"128916897","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
We model the determinants of who makes decisions, the principal or an agent, when there are multiple decisions. Decision making takes effort and time; and, once implemented, the expected loss from a particular decision (or project) increases with the length of time since the last decision was made. The model shows delegation is more likely as: (i) controllable uncertainty increases; (ii) uncontrollable uncertainty decreases; (iii) the number of plants in the firm decreases; (iv) the complexity of the decision increases; and (v) the importance of the decision increases. The theoretical predictions are consistent with our novel empirical results on the delegation of major organizational change decisions using workplace data. Our unique data allows us to identify who made a decision to implement a significant change, as well as key internal and external factors highlighted as potentially important in our theory. Empirically, delegation is more likely in organizations that: face a competitive product market; export; have predictable product demand; have a larger workplace; and that have fewer other workplaces in the same organization producing a similar output. We find business strategy is not related to the allocation of decision making authority; delegation, however, is associated with the use of human resource techniques such as the provision of bonuses to employees.
{"title":"Who Decides about Change and Restructuring in Organizations?","authors":"Kieron J. Meagher, A. Wait","doi":"10.2139/ssrn.1271754","DOIUrl":"https://doi.org/10.2139/ssrn.1271754","url":null,"abstract":"We model the determinants of who makes decisions, the principal or an agent, when there are multiple decisions. Decision making takes effort and time; and, once implemented, the expected loss from a particular decision (or project) increases with the length of time since the last decision was made. The model shows delegation is more likely as: (i) controllable uncertainty increases; (ii) uncontrollable uncertainty decreases; (iii) the number of plants in the firm decreases; (iv) the complexity of the decision increases; and (v) the importance of the decision increases. The theoretical predictions are consistent with our novel empirical results on the delegation of major organizational change decisions using workplace data. Our unique data allows us to identify who made a decision to implement a significant change, as well as key internal and external factors highlighted as potentially important in our theory. Empirically, delegation is more likely in organizations that: face a competitive product market; export; have predictable product demand; have a larger workplace; and that have fewer other workplaces in the same organization producing a similar output. We find business strategy is not related to the allocation of decision making authority; delegation, however, is associated with the use of human resource techniques such as the provision of bonuses to employees.","PeriodicalId":383948,"journal":{"name":"New Institutional Economics","volume":"39 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2008-09-22","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"121696265","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Social systems are a part of physical systems. In principle, social systems can be described by physical laws. However, there is a long running debate about how much knowledge from physics can be applied effectively to understand human societies. Compared with the vast amount of literature in both natural science and social science, attempts to understand social systems from physical laws are very sporadic. In this work, we show that the structures and evolution of social systems can be clearly understood with some simple and well established knowledge from physics.
{"title":"Understanding Social Systems: A Free Energy Perspective","authors":"J. Chen","doi":"10.2139/ssrn.1269035","DOIUrl":"https://doi.org/10.2139/ssrn.1269035","url":null,"abstract":"Social systems are a part of physical systems. In principle, social systems can be described by physical laws. However, there is a long running debate about how much knowledge from physics can be applied effectively to understand human societies. Compared with the vast amount of literature in both natural science and social science, attempts to understand social systems from physical laws are very sporadic. In this work, we show that the structures and evolution of social systems can be clearly understood with some simple and well established knowledge from physics.","PeriodicalId":383948,"journal":{"name":"New Institutional Economics","volume":"249 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2008-09-16","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"114562883","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
The quest for Nigeria to be an industrialized economy with high sustainable growth rates has been the preoccupation of every administration that has piloted the affairs of the nation since after independence. But amidst of these struggles for sustainable growth the Nigerian economy has performed poorly since the late 1970s, resulting in stagnation and increasing poverty levels. Industrialisation was seen as the only feasible means to get to the Promised Land by breaking the shackles of poverty because of the expected spill over effect in every other aspect of the economy. Despite all efforts, since October 1960, the level of industrialization remains very low even with the oil boom that comes intermittently. Thus all three factors (time preference, portfolio choice, and expectations) interacted to produce an economically irrational reaction to the oil-boom in Nigeria. The structural adjustment (SAP) era was seen as a perfect time to consolidate the industrial aspirations but the Nigerian experience with SAP policies in the area of trade and industrial policies illustrates the interplay of several factors in the determination of policy design and implementation. In one sense, there is the loss of policy autonomy since the IMF and donors could almost retain a veto power on policy choices. In practice, Nigerian policy-makers have had tremendous room to manoeuvre. The situation have been off and on till the 4th republic (1999-2007) yet Nigeria's manufacturing sub sector contribution to GDP instead of growing dropped to less than 3 percent in 2006. The paper reviewed all the policies and incentives and proffer guidelines for the way forward.
{"title":"Post Independence Nigeria and Industrialisation Strategies: Four and Half Erratic Decades","authors":"Uzochukwu Amakom","doi":"10.2139/ssrn.1266633","DOIUrl":"https://doi.org/10.2139/ssrn.1266633","url":null,"abstract":"The quest for Nigeria to be an industrialized economy with high sustainable growth rates has been the preoccupation of every administration that has piloted the affairs of the nation since after independence. But amidst of these struggles for sustainable growth the Nigerian economy has performed poorly since the late 1970s, resulting in stagnation and increasing poverty levels. Industrialisation was seen as the only feasible means to get to the Promised Land by breaking the shackles of poverty because of the expected spill over effect in every other aspect of the economy. Despite all efforts, since October 1960, the level of industrialization remains very low even with the oil boom that comes intermittently. Thus all three factors (time preference, portfolio choice, and expectations) interacted to produce an economically irrational reaction to the oil-boom in Nigeria. The structural adjustment (SAP) era was seen as a perfect time to consolidate the industrial aspirations but the Nigerian experience with SAP policies in the area of trade and industrial policies illustrates the interplay of several factors in the determination of policy design and implementation. In one sense, there is the loss of policy autonomy since the IMF and donors could almost retain a veto power on policy choices. In practice, Nigerian policy-makers have had tremendous room to manoeuvre. The situation have been off and on till the 4th republic (1999-2007) yet Nigeria's manufacturing sub sector contribution to GDP instead of growing dropped to less than 3 percent in 2006. The paper reviewed all the policies and incentives and proffer guidelines for the way forward.","PeriodicalId":383948,"journal":{"name":"New Institutional Economics","volume":"18 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2008-09-11","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"124732694","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
During the multifaceted crisis that has befallen Zimbabwe since 2000 the plight of the people has been manifest in a shrinking employment market, triple or four digit inflation, a sometime dearth of available commodities, rising child mortality rates and falling life expectancy - to the worst female life expectancy in the world - and a governance crisis experienced as political violence, uncertainty and cultural and social isolationism. Many popular and academic papers have bemoaned and discussed these symptoms of crisis. The fieldwork from which this paper derives, in November to December 2006, was carried out in the context of the above, just after an exercise in currency renewal, where three zeros were removed, in a state suffering the excesses of state propaganda and fear. Some of the data is corrupted by this numeric confusion and fear induced unwillingness to respond to strangers’ questions. However, the core of the dataset is sufficiently rigorous to suggest important validations and new observations which extend the analysis of our 2006 paper on Remittances in Zimbabwe (GPRG, Working Paper No. 45). This paper reaffirms the central importance of remittances to household wellbeing, reproduction and even survival. It provides new data on the expanding cross-border, non-pecuniary goods economy; data on a shrinking formal sector; an increasing unwillingness on the part of remitters to use commercial companies, banks or friends and relatives to transit remittances and thus a shrinking institutional base for the political economy of remittances. In other words, reliance on the personal physical carriage of money has grown as trust in other individuals and firms has shrunk during a period of deep and extended crisis. This serves to arrest any undue romanticism about the ability of an informal sector to emerge in direct compensation and competition to an ossified formal sector: all institutions are in crisis and the new informal remittance transfer systems (IRTS) are no exception. However, the resourcefulness of people in crisis continues to astound, despite these activities not resulting in concretised new institutions. We conclude that a model of a political economy of dispossession can be drawn around our empirics to give both a metaphorical and deeper conceptual understanding of this distal, multi-nodal economy of international remittances, which is critical to the survival of Zimbabweans at the current time.
{"title":"Remittances, Poverty Reduction and Informalisation in Zimbabwe 2005-6: A Political Economy of Dispossession?","authors":"S. Bracking, Lloyd Sachikonye","doi":"10.2139/SSRN.1265516","DOIUrl":"https://doi.org/10.2139/SSRN.1265516","url":null,"abstract":"During the multifaceted crisis that has befallen Zimbabwe since 2000 the plight of the people has been manifest in a shrinking employment market, triple or four digit inflation, a sometime dearth of available commodities, rising child mortality rates and falling life expectancy - to the worst female life expectancy in the world - and a governance crisis experienced as political violence, uncertainty and cultural and social isolationism. Many popular and academic papers have bemoaned and discussed these symptoms of crisis. The fieldwork from which this paper derives, in November to December 2006, was carried out in the context of the above, just after an exercise in currency renewal, where three zeros were removed, in a state suffering the excesses of state propaganda and fear. Some of the data is corrupted by this numeric confusion and fear induced unwillingness to respond to strangers’ questions. However, the core of the dataset is sufficiently rigorous to suggest important validations and new observations which extend the analysis of our 2006 paper on Remittances in Zimbabwe (GPRG, Working Paper No. 45). This paper reaffirms the central importance of remittances to household wellbeing, reproduction and even survival. It provides new data on the expanding cross-border, non-pecuniary goods economy; data on a shrinking formal sector; an increasing unwillingness on the part of remitters to use commercial companies, banks or friends and relatives to transit remittances and thus a shrinking institutional base for the political economy of remittances. In other words, reliance on the personal physical carriage of money has grown as trust in other individuals and firms has shrunk during a period of deep and extended crisis. This serves to arrest any undue romanticism about the ability of an informal sector to emerge in direct compensation and competition to an ossified formal sector: all institutions are in crisis and the new informal remittance transfer systems (IRTS) are no exception. However, the resourcefulness of people in crisis continues to astound, despite these activities not resulting in concretised new institutions. We conclude that a model of a political economy of dispossession can be drawn around our empirics to give both a metaphorical and deeper conceptual understanding of this distal, multi-nodal economy of international remittances, which is critical to the survival of Zimbabweans at the current time.","PeriodicalId":383948,"journal":{"name":"New Institutional Economics","volume":"31 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2008-09-09","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"115379558","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
This is the introduction to a special volume that examines the regulatory impact of doing business in China. The introduction summarizes the results of conferences sponsored by the Oxford Foundation for Law, Justice and Society, and held in Hong Kong and Beijing. The participants addressed a wide range of subjects, including recently issued and yet to be promulgated draft laws and regulations in the areas of bankruptcy, anti-monopoly, real estate and labor; as well as developments in mergers and acquisitions, telecommunications, corporate social responsibility, dispute resolution, intellectual property, banking and financial governance, and the impact of China's accession to the WTO on legal and economic reforms. Major themes and topics include the methodology of reform and the suitability of different approaches to regulation; the impact of political, social and economic factors on legal reforms and vice versa; the influence of bureaucratic rivalries on implementation; the increasing diversity of economic actors and the rise of interest groups with clearly defined and oftentimes competing agendas; and the impact of economic globalization on the domestic regulatory system and the pushback from domestic actors, including foreign businesses, when it comes to international policies and practices that are not in their interests.
{"title":"Regulating Enterprise: The Regulatory Impact on Doing Business","authors":"R. Peerenboom","doi":"10.2139/ssrn.1283204","DOIUrl":"https://doi.org/10.2139/ssrn.1283204","url":null,"abstract":"This is the introduction to a special volume that examines the regulatory impact of doing business in China. The introduction summarizes the results of conferences sponsored by the Oxford Foundation for Law, Justice and Society, and held in Hong Kong and Beijing. The participants addressed a wide range of subjects, including recently issued and yet to be promulgated draft laws and regulations in the areas of bankruptcy, anti-monopoly, real estate and labor; as well as developments in mergers and acquisitions, telecommunications, corporate social responsibility, dispute resolution, intellectual property, banking and financial governance, and the impact of China's accession to the WTO on legal and economic reforms. Major themes and topics include the methodology of reform and the suitability of different approaches to regulation; the impact of political, social and economic factors on legal reforms and vice versa; the influence of bureaucratic rivalries on implementation; the increasing diversity of economic actors and the rise of interest groups with clearly defined and oftentimes competing agendas; and the impact of economic globalization on the domestic regulatory system and the pushback from domestic actors, including foreign businesses, when it comes to international policies and practices that are not in their interests.","PeriodicalId":383948,"journal":{"name":"New Institutional Economics","volume":"23 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2008-09-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"129263357","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
At first glance, China and India seem to contradict the basic premise of the law and development movement that law plays a key causal role in economic growth. According to the standard view, China has enjoyed high growth rates despite weak legal institutions and the lack of rule of law, while India's growth rates have lagged far behind China's despite a reputation for rule of law and stronger legal institutions. Closer examination however reveals that the experiences of China and India are not as inconsistent with the prevailing wisdom regarding the relationship between law and development as often suggested. China and India also offer contrasting paths to development, with India being the world's largest developing country democracy, and China being the world's largest authoritarian regime. Direct comparisons between China and India are thus inevitable, albeit problematic. Data is often unreliable, available for different years or collected in different ways. There is also considerable regional variation within both countries. Moreover, each country does better in some respects than others. By selecting particular measures, one can present either a positive or negative image of either. Accordingly, across the board generalizations about the superiority of one or the other are dubious. Generalizations are difficult even within a particular area such as rule of law or economic development.Nevertheless, some general observations are possible: China does better in terms of economic measures, poverty reduction, and most measures of human development. India does better in terms of political freedoms and income equality. Both have poor environmental records, low public health spending and repress minorities with secessionist tendencies. Both do relatively well compared to the average country in their income class on good governance measures.The revisionist view sees India's democracy as a great asset in overcoming the middle-income blues. Conversely, although China is also experiencing the middle-income blues, it is following the path of other East Asian countries that were able to make the transition from middle to upper income countries, from weak institutions and rule of law to strong institutions and rule of law, and from authoritarianism to democracy. They did so by postponing democratization until a higher level of wealth was obtained and institutions had time to develop.At this point, the jury is still out as to whether China and India will join the ranks of upper income countries whose citizens enjoy rule of law, good governance and high standards of living and human development, and in China's case, democracy. Thus, it is too early to determine whether front-loading or postponing the costs of political reform will prove to have been the better approach.
{"title":"Law and Development in China and India: The Advantages and Disadvantages of Front-Loading the Costs of Political Reform","authors":"R. Peerenboom","doi":"10.2139/ssrn.1283209","DOIUrl":"https://doi.org/10.2139/ssrn.1283209","url":null,"abstract":"At first glance, China and India seem to contradict the basic premise of the law and development movement that law plays a key causal role in economic growth. According to the standard view, China has enjoyed high growth rates despite weak legal institutions and the lack of rule of law, while India's growth rates have lagged far behind China's despite a reputation for rule of law and stronger legal institutions. Closer examination however reveals that the experiences of China and India are not as inconsistent with the prevailing wisdom regarding the relationship between law and development as often suggested. China and India also offer contrasting paths to development, with India being the world's largest developing country democracy, and China being the world's largest authoritarian regime. Direct comparisons between China and India are thus inevitable, albeit problematic. Data is often unreliable, available for different years or collected in different ways. There is also considerable regional variation within both countries. Moreover, each country does better in some respects than others. By selecting particular measures, one can present either a positive or negative image of either. Accordingly, across the board generalizations about the superiority of one or the other are dubious. Generalizations are difficult even within a particular area such as rule of law or economic development.Nevertheless, some general observations are possible: China does better in terms of economic measures, poverty reduction, and most measures of human development. India does better in terms of political freedoms and income equality. Both have poor environmental records, low public health spending and repress minorities with secessionist tendencies. Both do relatively well compared to the average country in their income class on good governance measures.The revisionist view sees India's democracy as a great asset in overcoming the middle-income blues. Conversely, although China is also experiencing the middle-income blues, it is following the path of other East Asian countries that were able to make the transition from middle to upper income countries, from weak institutions and rule of law to strong institutions and rule of law, and from authoritarianism to democracy. They did so by postponing democratization until a higher level of wealth was obtained and institutions had time to develop.At this point, the jury is still out as to whether China and India will join the ranks of upper income countries whose citizens enjoy rule of law, good governance and high standards of living and human development, and in China's case, democracy. Thus, it is too early to determine whether front-loading or postponing the costs of political reform will prove to have been the better approach.","PeriodicalId":383948,"journal":{"name":"New Institutional Economics","volume":"1 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2008-09-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"129668697","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2008-09-01DOI: 10.1111/j.1540-5850.2008.00909.x
J. E. Ryu, Cynthia J. Bowling, Chung-lae Cho, D. S. Wright
Budgetary incrementalism argues that three institutional actors—agencies, executive budget offices, and legislative committees—dominate budget outcomes. The complexity and interdependency of public programs expands this expectation to include the influence of exogenous budget factors. Findings from a survey of state agency heads reveal that budget environments do influence state agency budget outcomes. However, the institutional budgetary participants, especially governors and legislatures, envisioned in classical incrementalism retain their principal and primary influence on state agency budgets. A significant departure from classical incrementalism is that agencies are not as influential as previously depicted.
{"title":"Exploring Explanations of State Agency Budgets: Institutional Budget Actors or Exogenous Environment?","authors":"J. E. Ryu, Cynthia J. Bowling, Chung-lae Cho, D. S. Wright","doi":"10.1111/j.1540-5850.2008.00909.x","DOIUrl":"https://doi.org/10.1111/j.1540-5850.2008.00909.x","url":null,"abstract":"Budgetary incrementalism argues that three institutional actors—agencies, executive budget offices, and legislative committees—dominate budget outcomes. The complexity and interdependency of public programs expands this expectation to include the influence of exogenous budget factors. Findings from a survey of state agency heads reveal that budget environments do influence state agency budget outcomes. However, the institutional budgetary participants, especially governors and legislatures, envisioned in classical incrementalism retain their principal and primary influence on state agency budgets. A significant departure from classical incrementalism is that agencies are not as influential as previously depicted.","PeriodicalId":383948,"journal":{"name":"New Institutional Economics","volume":"39 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2008-09-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"126430545","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Internet and telecommunication services are now available all over the world, and emphatically penetrating, still. Such growth in infrastructure invites interest of consumers and producers into foreign markets, which are not physically approachable, but virtually penetrable. Internet trade has grown in leaps and bounds; however, it has not reached the levels it can with the technology available today and the number of consumers and producers willing to trade. The primary reason for the situation is half-belief and distrust towards a foreign land and its products or its investors and consumers. Any dispute between transacting parties is still not resolved at party-to-party level and may reach the highest Appellate Adjudication levels of either region. Dispute resolution has become a part of State policy and the attitude towards it is also driven by national or domestic ideologies. Consequently, resolution of similar disputes in different societies becomes a hindrance to intended interaction over trade and commerce. Although, there have been attempts to create common resolution institutions and uniform laws, private disputes are either not resolved because of geographical differences or are lumped for the same reason.The convenience that electronic commerce offered and by which it lured the .dot com era has negligently been ignored. Any trader worth his salt will ensure enforceability of contractual obligations before raising hopes on attainable profits. Since the resolution practices adopted by international e-traders prove to be difficult to execute by the aggrieved party, many prospective transactions are not even considered. A system of decentralized resolution mechanism will conserve the convenience offered by e-commerce and will attract many more prospective traders. A system which can make the geographical differences inconsequential for fair enforcement of contractual obligations will bring back the convenience of trading across the seas.An ODR System could be an obvious choice for such a suggestion. However, a step-resolution mechanism, inclusive of party participation in decision making and guided negotiations and final adjudicatory options, will prove to be more viable than an ODR System. An organisation to ensure that conflicts are dissolved before they become disputes is required. Trading time and costs of resolution will be some of the starting few profits this system could offer immediately.The paper is an attempt to conceptualise such an organisation by identifying the various factors involved in the functioning and operations of this organisation.
{"title":"The Need for a Decentralized Dispute Resolution Mechanism: To Preserve the Convenience of E-Commerce","authors":"Shubham Yogi","doi":"10.2139/SSRN.1261763","DOIUrl":"https://doi.org/10.2139/SSRN.1261763","url":null,"abstract":"Internet and telecommunication services are now available all over the world, and emphatically penetrating, still. Such growth in infrastructure invites interest of consumers and producers into foreign markets, which are not physically approachable, but virtually penetrable. Internet trade has grown in leaps and bounds; however, it has not reached the levels it can with the technology available today and the number of consumers and producers willing to trade. The primary reason for the situation is half-belief and distrust towards a foreign land and its products or its investors and consumers. Any dispute between transacting parties is still not resolved at party-to-party level and may reach the highest Appellate Adjudication levels of either region. Dispute resolution has become a part of State policy and the attitude towards it is also driven by national or domestic ideologies. Consequently, resolution of similar disputes in different societies becomes a hindrance to intended interaction over trade and commerce. Although, there have been attempts to create common resolution institutions and uniform laws, private disputes are either not resolved because of geographical differences or are lumped for the same reason.The convenience that electronic commerce offered and by which it lured the .dot com era has negligently been ignored. Any trader worth his salt will ensure enforceability of contractual obligations before raising hopes on attainable profits. Since the resolution practices adopted by international e-traders prove to be difficult to execute by the aggrieved party, many prospective transactions are not even considered. A system of decentralized resolution mechanism will conserve the convenience offered by e-commerce and will attract many more prospective traders. A system which can make the geographical differences inconsequential for fair enforcement of contractual obligations will bring back the convenience of trading across the seas.An ODR System could be an obvious choice for such a suggestion. However, a step-resolution mechanism, inclusive of party participation in decision making and guided negotiations and final adjudicatory options, will prove to be more viable than an ODR System. An organisation to ensure that conflicts are dissolved before they become disputes is required. Trading time and costs of resolution will be some of the starting few profits this system could offer immediately.The paper is an attempt to conceptualise such an organisation by identifying the various factors involved in the functioning and operations of this organisation.","PeriodicalId":383948,"journal":{"name":"New Institutional Economics","volume":"315 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2008-09-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"116810269","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2008-09-01DOI: 10.14330/jeail.2008.1.2.01
Valerie Epps
This article traces the evolution of the concept of self-determination from the end of World War I, through the era of decolonization, to the present day when it has become embedded in the human rights framework and, in limited circumstances, is used to justify secession. Various national and international cases are examined in analyzing the jurisprudence of self-determination, as well as the new European standards for State recognition after secession. The concept of autonomy is also examined as possibly providing a solution for disaffected minority groups within a greater territorial unit. The article then applies the self-determination and autonomy frameworks to Tibet and examines possible solutions for assessing Tibet's international status.
{"title":"Evolving Concepts of Self-Determination and Autonomy in International Law: The Legal Status of Tibet","authors":"Valerie Epps","doi":"10.14330/jeail.2008.1.2.01","DOIUrl":"https://doi.org/10.14330/jeail.2008.1.2.01","url":null,"abstract":"This article traces the evolution of the concept of self-determination from the end of World War I, through the era of decolonization, to the present day when it has become embedded in the human rights framework and, in limited circumstances, is used to justify secession. Various national and international cases are examined in analyzing the jurisprudence of self-determination, as well as the new European standards for State recognition after secession. The concept of autonomy is also examined as possibly providing a solution for disaffected minority groups within a greater territorial unit. The article then applies the self-determination and autonomy frameworks to Tibet and examines possible solutions for assessing Tibet's international status.","PeriodicalId":383948,"journal":{"name":"New Institutional Economics","volume":"51 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2008-09-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"126403835","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
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