| "Soft Law" and International Economic Regulation: The Case of Mergers and Acquisitions. (2005) | |||||||||||
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| SOFT LAW AND INTERNATIONAL ECONOMIC REGULATION THE CASE MERGERS AND ACQUISITIONS Simon Evenett Oxford University and GEP February With the ongoing implementation the Uruguay Round multilateral trade agreements and the associated creation the World Trade Organization WTO has been common think especially circles international trade economists terms binding rules governing international commerce This focus what some call hard rules fits naturally with such economists long standing interest the national incentives comply with international rules the face pressures from domestic interests Without implying any criticism this worthy research programme important recognise that recent years significant international commercial transactions are being subject non binding called soft international rules Moreover certain policy domains national governments have explicitly rejected the negotiation hard rules favour softer alternatives often leading the agreement non binding recommendations regulatory standards and enforcement practices focus hard rules then provides incomplete understanding the nature and extent current international economic regulation Competition law and its enforcement interesting example state measure which has been increasingly subject both hard and soft international rules Many regional and preferential trading agreements include binding commitments competition laws The recent Singapore free trade agreement case point and contained obligation Singapore enact and enfo | |||||||||||
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