ABSTRACT
The theory of regulatory competition has recently been applied to a broad range of legal fields. To the extent that it is put to use in private law, private international law plays a crucial role. This is because regulatory competition will only come into existence, if, on the demand side, businesses and consumers are allowed to choose between legal rules. If they are not allowed to do so, states do not have an incentive to adjust their laws and to engage in competition with other states. It follows that the traditional private international law concept of party autonomy is what sets regulatory competition in motion and what keeps it going. The significance of private international law, however, goes even further: It may limit the parties’ freedom to choose the applicable law and, hence, limit regulatory competition where such competition may have negative effects. Private international law may, therefore, also regulate regulatory competition …
Ruhl, Giesela, Regulatory Competition and the Hague Principles of Choice of Law in International Commercial Contracts (March 13, 2020) in Rishi Gulati, Thomas John and Ben Koehler (eds), Elgar Companion on the Hague Conference on Private International Law, Edward Elgar Publishing, Cheltenham / Camberley / Northampton 2020 (forthcoming).
First posted 2020-04-08 05:57:39
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