Globalization of Law and Markets

Globalization of Law and Markets examines the ways global institutions create law for world trade and shape national markets.

The most recently completed project, co-directed with Susan Block-Lieb (Fordham University), studied interactions among global, national, and local lawmakers and implementers. This research has involved fieldwork within the UN Commission on International Trade Law (UNCITRAL), the International Monetary fund (IMF), the Intergovernmental Economic Organization (OECD), and in China, Indonesia, South Korea, the U.S., and the U.K. on corporate bankruptcy, secured transactions, carriage of goods by sea, anti-money laundering and combating the financing of terrorism. The principal findings of the project were published in Global Lawmakers: International Organizations in the Crafting of World Markets (Cambridge University Press, 2017).

An earlier project focused on the lawmaking of global institutions in response to the Asian Financial Crisis in 1997 and culminated in the publication of the prize-winning book Bankrupt: Global Lawmaking and Systemic Financial Crisis (Stanford University Press, 2019). This research shows how international public and private organizations created procedural rules for coordinating bankruptcies in multiple countries (late 1980s-later 1990s), provided guidelines for the construction of national bankruptcy systems in emerging economies (late 1990s to 2003), and developed global norms for bankruptcy law and institutions in advanced and emerging economies (1999-2004).