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The Economics of Harmonisation: Implications for Reform of Commercial Law and Regulation in New Zealand

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  • Quigley, Neil

Abstract

This paper provides an economic assessment of the costs and benefits of harmonising New Zealand's commercial laws and regulations with those in Australia or with an OECD norm. It argues that unless the definition of harmonisation is limited to mutual recognition the economics literature surveyed does not support a general presumption in favour of harmonisation of commercial laws.The absence of any presumption in favour of harmonisation is based on the infeasibility of full harmonisation while New Zealand maintains political independence and on the overall requirement for an assessment of the efficiency of any law in the context of the New Zealand economy

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  • Quigley, Neil, 2003. "The Economics of Harmonisation: Implications for Reform of Commercial Law and Regulation in New Zealand," Working Paper Series 18982, Victoria University of Wellington, The New Zealand Institute for the Study of Competition and Regulation.
    • Handle: RePEc:vuw:vuwcsr:18982
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    File URL: https://ir.wgtn.ac.nz/handle/123456789/18982
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    References listed on IDEAS

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    1. Roberta Romano, 2001. "The Need for Competition in International Securities Regulation," Yale School of Management Working Papers ysm214, Yale School of Management, revised 01 Sep 2001.
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    3. Lewis Evans & Patrick Hughes, 2003. "Competition Policy in Small Distant Open Economies: Some Lessons from the Economics Literature," Treasury Working Paper Series 03/31, New Zealand Treasury.
    4. Roberta Romano, 2001. "The Need for Competition in International Securities Regulation," Yale School of Management Working Papers ysm214, Yale School of Management, revised 01 Sep 2001.
    5. Niemeyer, Jonas, 2001. "Where to Go after the Lamfalussy Report? - An Economic Analysis of Securities Market Regulation and Supervision," SSE/EFI Working Paper Series in Economics and Finance 482, Stockholm School of Economics.
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