Privatizing the economic constitution: Can the world market reproduce its own institutional prerequisites?

Calliess, Gralf-Peter ; Mertens, Jens ; Renner, Moritz

Document Type: Book chapter
Year of publication: 2013
Book title: European Yearbook of International Economic Law
Volume: 4
Page range: 201-222
Publisher: Herrmann, Christoph
Place of publication: Berlin ; Heidelberg
Publishing house: Springer
ISBN: 978-3-642-33916-5 , 978-3-642-33917-2
Publication language: English
Institution: School of Law and Economics > Bürgerl. Recht, Internat. und Europ. Wirtschaftsrecht (Renner 2017-)
Subject: 340 Law
Abstract: Markets are not a natural phenomenon but depend on a complex set of institutions. Commercial law enables and facilitates at-arm’s-length market exchange. Competition law regulates freedom of contract in order to protect it from self-abolition. On the domestic level, these core pillars of the economic constitution have been safely installed by the modern nation state. However, on the global level the situation is different. Since in contrast to domestic trade, cross-border transactions are not conducted “in the shadow of law” but largely depend on private governance-mechanisms, the crucial question is whether the world market is able to reproduce its own institutional prerequisites. Consequently, we assess the potential effects of this privatization of commercial law on competition policy, namely the potential abuse of market-dominating positions resulting from a rise in the level of vertical integration on the world market as well as the potential of contracting around the ban on cartels by choosing arbitration rather than litigation as a means of commercial dispute resolution.

Dieser Datensatz wurde nicht während einer Tätigkeit an der Universität Mannheim veröffentlicht, dies ist eine Externe Publikation.

Metadata export


+ Search Authors in

+ Page Views

Hits per month over past year

Detailed information

You have found an error? Please let us know about your desired correction here: E-Mail

Actions (login required)

Show item Show item