Towards an Institutional Legal Framework for Regulatory Competition in Europe
Diversity in legal rules allows to satisfy a larger number of preferences and safeguards the benefits of competition as a learning process. Harmonisation of laws should be limited to fields of law where economic distortions, such as a "race to the bottom" or significant negative externalities across jurisdictions, occur or significant scale economies can be achieved. Harmonisation measures should be well targeted at the issues at stake. The risk of political distortions must equally be minimised. To improve upon the existing quasi-constitutional framework, the paper proposes integrated step-by-step Guidelines for decision-making by the European regulator. Copyright 2000 by WWZ and Helbing & Lichtenhahn Verlag AG
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Volume (Year): 53 (2000)
Issue (Month): 4 ()
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