Center for International & Comparative Law

Center for International & Comparative Law

Center for International & Comparative Law

Flags

Research

Unnoticed in the literature on sovereign bonds, an innovation has been taking place over the past decade and a half. Starting with a single issuance... MORE
All sovereign debt restructurings risk undershooting (providing less debt relief than is needed to restore the country to long-term sustainability)... MORE
The economic harm being caused by the novel coronavirus may soon result in multiple sovereign debtors moving into default territory. But the... MORE
We analyze the price effect of the introduction of Collective Action Clauses (CACs) in newly issued sovereign bonds of Eurozone countries as of... MORE
Corporations are increasingly important actors in international law. But, vital questions underlying this development have long gone unanswered: how... MORE
This article provides a detailed summary of the General Court of the European Union’s judgment in Amazon and analyzes what it means for the future... MORE
When a state seeks to defend itself against a cyberattack, must it first identify the perpetrator responsible? The US policy of “defend forward” and... MORE
In 2016, its economy in shambles and looking to defer payment on its debts, the Venezuelan government of Nicolás Maduro proposed a multi-billion... MORE
This article uses history to explore how prominent international lawyers explain seemingly transgressive state behavior. It begins with the Russian... MORE
Countries with large debts stocks are vulnerable to the vagaries of the markets. Confidence crises can arise out of nowhere, constricting access to... MORE
As the global economic downturn from the coronavirus worsens, many sovereign debtors will have to choose between paying creditors and fighting the... MORE
Argentina is once again seeking to restructure its external debt. To facilitate this process, the country is proposing to use the state-of-the-art... MORE
A much-debated question in contract law scholarship is what the optimal measure of damages for breach should be. The casebook answer, drawing from... MORE
In 1898, in the wake of the Spanish-American war, Spain ceded the colony of Cuba to the United States. In keeping with the law of state succession,... MORE
The recession of 2008 precipitated a political crisis that motivated an unprecedented international project to curb corporate tax dodging. This... MORE
This symposium explores ways in which developments in artificial intelligence (AI) will affect the substance of international law, and, conversely,... MORE
Can Airbnb enforce international law? Should it? This Article argues that the answer to these questions may sometimes be yes and that many other... MORE
Even before COVID19 struck, we were going through a remarkable moment of political, economic, and social instability. We see disruption of many... MORE
In November, 1908, the international community tried to buy its way out of the century’s first recognized humanitarian crisis: King Leopold II’s... MORE
In recent years, legislative bodies such as the U.S. Congress and the U.K. Parliament have struggled to maintain a role for themselves in government... MORE
Data-driven algorithmic tools allow their users to process large amounts of data quickly, extract patterns from the data that humans cannot otherwise... MORE
How do international laws affect citizens' willingness to accept refugees? In full and partial democracies, citizens' attitudes can influence... MORE
The big question that this volume addresses is whether international law can bridge gaps between the world’s principal legal systems. There are many... MORE
U.S. technology companies are increasingly standing as competing power centers that challenge the primacy of governments. This power brings with it... MORE
Attribution of state-sponsored cyberattacks can be difficult, but the significant uptick in public attributions in recent years has proven that... MORE
Big data technology and machine learning techniques play a growing role across all areas of modern society. Machine learning provides the ability to... MORE
When a foreign country's law is relevant to a case in U.S. federal court and the foreign country files an official statement about the meaning of its... MORE
When Ebola came to West Africa in 2014, Liberia could not cope. The State’s already fragile public health infrastructure was largely ineffective in... MORE
In a series of recent cases, the Supreme Court has vigorously applied the presumption against extraterritoriality to curtail the territorial reach of... MORE
This chapter examines from a comparative perspective the national legal regimes that govern treaty-making and treaty withdrawal, functions that in... MORE
For most of the past century, those who followed foreign relations law believed that federal law, including that made by the federal courts in the... MORE
From Catalonia to Kurdistan, Crimea to California, and Scotland to St. Kitts, secession has become a hotly debated political issue. While... MORE
This Article uses controversy over Apple and other recent EU state-aid cases to explore a defect common to many anti-subsidy regimes that limit... MORE
Confronted with eroding market confidence in a country's debt obligations, what's a local politician to do? Major changes to fiscal policies are... MORE
Yesterday’s EU General Court decisions in Starbucks and Fiat represent major victories for the Commission and its theory of state aid,... MORE
Constitutions are traditionally seen as inherently domestic documents, written by the people, for the people, and reflecting the nation’s highest... MORE
One critique of some common-law comparative legal academies is their intensively “court-centric” focus, which, some believe, “marginalize[s]” the... MORE
The 20th century witnessed a transformative, “tectonic” shift in international law, from “absolute” to “restrictive” theories of sovereign immunity... MORE
How must states’ intelligence communities (ICs) approach their international law obligations? From the perspective of international law itself, the... MORE
This paper is a contribution to an upcoming issue of Law and Contemporary Problems devoted to work originating in the Conference, “What’s Next for... MORE
This chapter represents my contribution to a book provisionally entitled Comparative International Law, scheduled for publication by Oxford... MORE
In the U.S. constitutional system, the President generally conducts foreign relations. But not always. In recent years, the courts and Congress have... MORE
Comparative international law utilizes insights and methods from comparative law in order to identify, analyze, and explain similarities and... MORE
This contribution discusses in detail the Security Council-authorized intervention by NATO in Libya in 2011, in response to the Libyan government’s... MORE
On June 11, 2017, Puerto Rico held a referendum on its legal status. Although turnout was low, 97% of ballots favored statehood over independence or... MORE
We argue that the high revenue triggers in proposed digital taxes — including the recent Franco-German proposal for a digital advertising tax — may... MORE
Under the original understanding of the Constitution, customary international law features in the U.S. legal system as general law. It is not law... MORE
The Eurozone sovereign debt crisis began in the spring of 2010. Seven years on seems like an appropriate point at which to critique how the crisis... MORE
This article describes the intricacies of U.S. constitutional law on the rights of aliens. It identifies three general tendencies that bear on... MORE
The Kingdom of Bhutan — dubbed by some the “hermit kingdom” — has a famously ambivalent attitude toward globalization. Bhutan’s first law school... MORE
Emerging market sovereigns issue bonds in the international capital markets governed by a foreign legal regime such as the law of England or New York... MORE
This article describes Wayfair and provides some cautions about what it means for the U.S. states and the rest of the world, especially Europe. It... MORE
In the contemporary world, the domains of laws overlap a lot. With human activity (business, family, political, creative) unfolding at a greater... MORE
Silicon Valley has long been viewed as a full-throated champion of First Amendment values. The dominant online platforms, however, have recently... MORE
In this sixth and final installment in a series of reports on state aid, Mason evaluates the European Commission’s decisions in the recent state... MORE
This article, presented at a symposium occasioned by the publication of A.J. Bellia’ and Bradford Clark’s The Law of Nations and the United States... MORE
While political science scholarship recognizes that the effectiveness of international law often rests on its domestic implementation, relatively... MORE
One of the most heated debates of the last two decades in US legal academia centers on customary international law's domestic status after Erie... MORE
In numerous cases, courts have declined to apply the United Nations Convention on Contracts for the International Sale of Goods in litigation where... MORE
Many of the central challenges in international law arise from bad relationships between regions and the nations in which they are located. Some... MORE
The past few decades have witnessed the growth of an exciting debate in the legal academy about the tensions between economic pressures to commodify... MORE
In recent years, global policy makers have declared that heads of state must be held accountable through criminal prosecution for internationally... MORE
Legislatures are critical to international law governance for two related reasons. First, most are involved in several stages of treaty creation... MORE
Data’s intangibility poses significant difficulties for determining where data is located. The problem is not that data is located nowhere, but that... MORE
Calls for public-private partnerships to address U.S. cybersecurity failures have become ubiquitous. But the academic literature and public debate... MORE
This is Part three in a multi-part Special Report on state aid. It provides detailed analysis and critical commentary on the EU Commission's recent... MORE
In this report, the second in a series of reports on EU state aid, Mason evaluates the claims Treasury’ made in its White Paper that recovery in... MORE
In this fourth part in a series of reports on state aid, Mason focuses on the element of “advantage” in EU state aid law, and she criticizes the... MORE
The global appeal of liberal constitutional democracy—defined as a competitive multiparty system combined with governance within constitutional... MORE
Can popular sovereignty and sovereign territory co-exist? Can we imagine a world in which sovereignty territory could, like property, be traded among... MORE
In their essay, "The Influence of History on States’ Compliance with Human Rights Obligations," Adam Chilton and Eric Posner conclude that modern... MORE
The unprecedented scale of the modern refugee crisis demands novel legal solutions, and new ways of summing the political will to implement them. As... MORE
The Bush Administration took a maximalist approach to the jus ad bellum and jus in bello, staking out broad claims about what international law... MORE
As of this writing in June 2016, the markets are predicting Venezuela to be on the brink of default. On June 1, 2016, the 6 month CDS contract... MORE
Secret international agreements have a bad reputation. Ever since states misused secret agreements during World War I, commentators have condemned... MORE
If Greece’s debt is unsustainable, and most observers (including the IMF) seem to think it is, the country’s only source of funding will continue to... MORE
In March 2012, Greece conducted one of the biggest and most brutal sovereign debt restructurings ever, asking holders of Greek government bonds to... MORE
Judicial and scholarly discussions about checks and balances almost always focus on actions and reactions by domestic actors. At least in the... MORE
This Article presents the first systematic study of foreign sovereign amicus briefs in the Supreme Court. Based on an analysis of the briefing, oral... MORE
Intelligence activity is — or, more accurately, was — the last bastion of foreign relations unconstrained by international law. States could steal... MORE
This paper treats the design of judicial mechanisms (international courts, domestic courts, arbitral tribunals and the like) as variables that are... MORE
The human rights movement has spent considerable energy developing and promoting the adoption of both international and domestic legal prohibitions... MORE
This paper uses the history and function of the jus cogens concept in international law to demonstrate that its meaning and implication have varied... MORE
It is a core function of constitutions to justify the existence and organization of the state. The ideological narratives embedded in constitutions... MORE
By global standards, the U.S. Supreme Court is unusual in a number of respects, but one of its most distinctive characteristics is its reluctance to... MORE
Most of the conventions produced by UNCITRAL since 1980 share a certain boilerplate. Included in this treaty boilerplate are provisions that require... MORE
Despite Congress’s important role in upholding U.S. international law obligations, the relevant existing literature largely ignores the branch.... MORE
• The IMF staff’s 2013 proposal to reprofile (i.e., stretch out for a short period without haircutting principal or interest) the maturing debt of a... MORE
Customary international law (CIL) is a widely accepted source of international law, but it is poorly understood and has eluded systematic empirical... MORE
In March 2012, Greece conducted one of the biggest and most brutal sovereign debt restructurings ever, asking holders of Greek government bonds to... MORE
Edward Snowden’s leaks laid bare the scope and breadth of the electronic surveillance that the U.S. National Security Agency and its foreign... MORE
International legal scholars have long recognized the importance of the rules and processes by which states adhere to international legal obligations... MORE
In March 2012, Greece conducted one of the biggest and most brutal sovereign debt restructurings ever, asking holders of Greek government bonds to... MORE
Many view constitutional incorporation of international human rights treaties as the most effective way to enforce treaty rights domestically. Three... MORE
Concerns about cyberwar, cyberespionage, and cybercrime have burst into focus in recent years. The United States and China have traded accusations... MORE
As part of a symposium on cyberwar, this invited contribution explores the challenges that new technologies pose for international law. Borrowing... MORE
The drama in Ukraine has occupied global headlines for many months now and — while there are occasional signs that things are calming down — the... MORE
The Foreign Account Tax Compliance Act (FATCA) represents a powerful response by the United States to flagrant offshore tax evasion. Although the new... MORE
One of the primary policy initiatives instituted in response to the Eurozone sovereign debt crisis is a requirement that all Eurozone sovereign... MORE
What obligations does a state have after it forcibly overthrows the regime of another state or territory? The Hague Regulations and the Fourth Geneva... MORE
This article articulates an explanatory theory of customary international law under which precedential concerns are central to explaining CIL... MORE
Several states have been engaged for years in armed conflicts against non-state actors outside their territory. These conflicts implicate a wide... MORE
This paper explores the dynamics of international judicial interactions in civil cases. It proposes a positive model of court-on-court encounters... MORE
The role of the Official Sector institutions as lenders in crisis situations has evolved over time, and, particularly in the context of the current... MORE
One of the most debated issues in international finance is the meaning of the pari passu clause in sovereign bonds. The clause is ubiquitous; it is... MORE
The Eurozone official sector has declared that the belated restructuring of Greek bonds held by private sector creditors in 2012 was a “unique and... MORE
Last Friday, the European leaders trespassed on consecrated ground by putting insured depositors in Cypriot banks in harm’s way. They had other... MORE
The President, Congress, and the courts have long disagreed about who has the power to terminate treaties. Presidents have claimed the power to... MORE
Unlike many areas of international cooperation, international financial regulation (IFR) relies on informal networks of regulators and “soft law”... MORE
The Eurozone debt crisis is entering its third year. The original objective of the official sector’s response to the crisis -- containment -- has... MORE
Many celebrate international law as a way to compel states to protect human rights. Often it serves this role. But sometimes it has the reverse... MORE
For two decades, collective action clauses (CACs) have been part of the official-sector response to sovereign debt crisis, justified by claims that... MORE
The Greek debt restructuring of 2012 stands out in the history of sovereign defaults. It achieved very large debt relief – over 50 per cent of 2012... MORE
I want to use the occasion of the Morrison decision to consider the interests that produce extraterritorial regulation by the United States.... MORE
A meeting of international finance and insolvency experts was held on November 2, 2013 at the Annenberg House in Santa Monica, California. The... MORE
This paper, presented to the 25th Sokol Colloquium on Private International Law in April 2012, and slated for publication in a forthcoming book... MORE
The Greek debt crisis prompted EU officials to embark on a radical reconstruction of the European sovereign debt markets. Prominently featured in... MORE
This article explores the background to, and significance of, the Russian renationalization of the Yukos energy conglomerate through a tax assessment... MORE
We develop a model of international agreements to price a transboundry externality and provide a new heuristic to aid in interpreting negotiation... MORE
It is often thought that the judicial recognition of customary international law depends on jurisprudential assumptions about the nature of legal... MORE
This paper, written as a chapter for a forthcoming volume on international comparisons of prosecutors’ roles in various jurisdictions, provides a... MORE
This paper examines the highly contentious and protracted implementation of the Basel II accord on bank capital adequacy in the United States. As a... MORE
Non-state actors, including terrorist groups, regularly launch attacks against states, often from external bases. When a victim state seeks to... MORE
As a candidate for President, Barack Obama made “change” a central theme of his campaign. In particular, he railed against the Bush Administration’s... MORE
This article considers whether the prospect of increased competition in the regulation of international bribery is desirable or not. It explores the... MORE
For some months now, discussions over how Greece will restructure its debt have been constrained by the requirement that the deal be “voluntary” –... MORE
It has been suggested, with growing frequency, that the United States may be losing its influence over constitutionalism in other countries because... MORE
For some months now, discussions over how Greece will restructure its debt have been constrained by the requirement that the deal be “voluntary” –... MORE
This paper examines the contract interpretation strategies adopted by the International Swaps and Derivatives Association (ISDA) for its credit... MORE
A fairly substantial amount of literature has been generated over the years regarding the forms of masculinity that emerge in times of armed conflict... MORE
Prohibitions of tax discrimination have long appeared in constitutions, tax treaties, trade treaties and other sources, but despite their ubiquity... MORE
Within the next couple of months, the Greek government, is supposed to persuade private creditors holding about EUR 200bn in its bonds to... MORE
The old understanding of international law as something created solely by and for sovereigns is defunct. Today the production and enforcement of... MORE
In recent years, scholars have devoted considerable attention to transnational networks of financial regulators and their efforts to develop uniform... MORE
Customary International Law (CIL) is plagued with uncertainties about its sources, its content, its manipulability, and its normative attractiveness... MORE
The case for international cooperation in competition policy is weaker than commonly thought. First, the lion's share of international transactions (... MORE
The organizational structure of a judicial system has systematic implications for the ideological slant of judicial policymaking. These implications... MORE
In the wake of the Eurozone sovereign debt crisis, the European financial authorities announced last November that all Eurozone sovereign bonds... MORE
This paper, a chapter in a forthcoming book on International Law and the Supreme Court, examines the treaty decisions of the Court during the postwar... MORE
There are two senses in which judicial review in Japan has failed. First, the Supreme Court of Japan strikes down laws so rarely that judicial review... MORE
Default on sovereign debt is a form of political risk. Issuers and creditors have responded to this risk both by strengthening the terms in... MORE
The notion that "global judicial dialogue" is contributing to the globalization of constitutional law has attracted considerable scholarly attention... MORE
It has become almost universal practice for countries to adopt formal constitutions. Little is known empirically, however, about the evolution of... MORE
Conventional wisdom holds that boilerplate contract terms are ignored by parties, and thus are not priced into contracts. We test this view by... MORE
On the Frontlines gives a comprehensive overview of the post-conflict terrain as it is experienced by women across multiple jurisdictions and in the... MORE
Perhaps Greece - a country with a debt to GDP already approaching 150 percent and set to move even higher - avoids a debt restructuring. Perhaps not... MORE
This paper, prepared for a conference hosted by Vanderbilt Law School on foreign sovereign immunity at home and abroad, begins with the dispute now... MORE
Perhaps Greece - a country with a debt to GDP already approaching 150 percent and set to move even higher - avoids a debt restructuring. Perhaps not... MORE
Sovereign debt problems were once thought to be a third world affliction. They still are. But as events of the last two years have shown,... MORE
"Odious debts" have been the subject of debate in academic, activist, and policy circles in recent years. The term refers to the debts of a nation... MORE
The conventional wisdom among international law scholars is that, once a rule of customary international law (CIL) becomes established, nations... MORE
Significant intellectual and financial resources have been committed to decentralization projects in the developing world based on the idea that... MORE
In October 2000 a hedge fund holding an unpaid debt claim won an enormous victory against the debtor, the Republic of Peru, through an opportunistic... MORE
This paper responds to a provocative essay by Curtis Bradley and Mitu Gulati on exiting from customary international law. Bradley and Gulati argue... MORE
Treaties are negotiated, usually written down, and often subject to cumbersome domestic ratification processes. Nonetheless, nations often have the... MORE
"Tax discrimination" is an increasingly important legal concept for international trade and cross-border investment. Commentators have observed that... MORE
Despite the widespread media focus on business outsourcing transactions, we only have a limited understanding of how firms actually select a... MORE
This paper explores the situation of women returning to their homes and communities after their countries have experienced major conflicts. In that... MORE
This essay highlights a phenomenon that has no place in the conventional theory of sophisticated business contracts: the term that makes no sense as... MORE
Treason is an ancient crime, but it fell into disuse in most Western democratic states after World War II. Now it is making a comeback with... MORE
This article argues that international greenhouse gas (GHG) cap-and-trade schemes suffer from inherent problems of enforceability and verifiability... MORE
The Supreme Court of Japan is widely and justifiably considered the most conservative constitutional court in the world. Drawing on interviews... MORE
Governments often deliver social welfare benefits through “tax expenditures,” provisions of the tax code (such as home mortgage deductions) designed... MORE
The "rogue trader" - a famed figure of the 1990's - recently has returned to prominence due largely to two phenomena. First, recent U.S. mortgage... MORE
Conventional wisdom is that sovereigns will rarely, if ever, default on their external debts in circumstances where it is clear that they have the... MORE
This paper develops a typology of different country governance contexts, in which we propose four broad categories of countries in Sub-Saharan Africa... MORE
In Swift v. Tyson, Justice Story argued that federalization of the law of negotiable instruments was necessary to thwart local courts from adopting... MORE
For over a decade, contracts literature has focused on standardization. Scholars asked how terms become standard, and why they change so rarely.... MORE
Since 1996, the Supreme Court of the United States has signaled that the jurisprudence of the writ of habeas corpus, and its possible suspension,... MORE
The few years since the U.S. incursion into Iraq in 2003 have witnessed an explosion in the literature on odious debts - that is, debts incurred (a... MORE
Few events in the life of a society are as heady as the ouster of a long-standing dictatorial or corrupt regime. In the euphoria that typically... MORE
The European Court of Justice (ECJ) has come under increasing criticism for overstepping its institutional authority in tax cases by invalidating... MORE
Globalization - the drastic reduction of barriers to trans-border movement and exchange - is a phenomenon of obvious practical significance that has... MORE
Double taxation of corporate profits distorts the choice of business form, the debt and equity capitalization of companies, and the character and... MORE
This comment considers arguments for and against stricter regulation of sovereign wealth funds (SWFs), either by tightening securities laws or... MORE
After four years of consideration, the Israeli Supreme Court recently issued the world's first judicial decision on targeted killings in Public... MORE
How important are active independent shareholders in a framework for sound corporate governance? Hedge funds, institutional investors, the "Warren... MORE
In 1981, Israel launched a preemptive attack on the Iraqi Osiraq nuclear reactor. Now a similar strike is being considered against Iranian nuclear... MORE
Although extralegal enforcement is widely acknowledged, the conventional understanding of written contract provisions, such as the complex and... MORE
This article argues that the cost of odious debt ought to be borne by the party who is best positioned to prevent the accumulation of such debt.... MORE
Under the standard the European Court of Justice (ECJ) uses to evaluate tax discrimination cases, a Member State discriminates when it taxes cross-... MORE
In this short essay, I fight a two front war, besieged by three superb scholars. Professors Robert Delahunty and John Yoo, and Professor Michael... MORE
This article discusses tax treaty limitation on benefits (LOB) clauses, with special emphasis on derivative benefits and "equivalent beneficiaries... MORE
This paper, written for a symposium on The Mind of a Child, examines two different aspects of the accountability of children: those children who are... MORE
A critical issue for post conflict reconstruction is moving beyond criminal prosecutions that ensure accountability of perpetrators toward a system... MORE
This article revisits a recent shift in standard form sovereign bond contracts to promote collective action among creditors. Major press outlets... MORE
Beyond Retribution and Impunity: Responding to War Crimes of Sexual Violence articulates principles for an approach to gender-based violence during... MORE
The Court's docket last Term included five cases directly presenting questions of international law. Republic of Austria v. Altmann raised issues of... MORE
As Justice Breyer has observed, "[j]udges in different countries increasingly apply somewhat similar legal phrases to somewhat similar circumstances... MORE
Legal academics and international-relations scholars have recently undertaken a great deal of interdisciplinary work on the interaction of... MORE
Network externalities may lead contracting parties to stay with a standardized term despite preferences for another term. Using a dataset of... MORE
In April 2002 the International Monetary Fund introduced a sovereign bankruptcy proposal only to be rebuffed by the United States Treasury. Where the... MORE
International law provides an ideal context for studying the effects of freedom from coercion on cooperative behavior. Framers of international... MORE
This article contributes to the "arrival of history" in constitutional scholarship and the revival of foreign affairs jurisprudence in the legal... MORE
A President who chooses to seek legislative approval of a treaty risks delay, textual modification, and even outright defeat. Neither the... MORE
I address two parallel and paradoxical trends involving U.S. litigation and international law. I describe how U.S. courts have sought to widen their... MORE
I discuss the roles of adjudication bodies in promoting the unification of law. Then I clarify the redistributive dimensions of unification projects... MORE
This paper examines the interplay between intellectual property rules and forces driving globalization in the world economy. It argues against the... MORE
This paper will be published in the Georgetown Law Journal as one of two responses to an essay by Andrew Guzman on the law and economics of choice of... MORE
One hundred years ago in the United States, confronted by the urgent need to find a debt workout procedure for large corporate and railroad bond... MORE
In this paper, forthcoming in the Virginia Law Review, I explore the role of litigation as a policy-making and rule-generating process in the context... MORE
Written before the Hague negotiations on climate change held in November of 2000 (the so-called "COP-6" meeting), this essay argues that the COP-6... MORE
Sovereign Piracy lays bare the recent efforts of vulture investor Elliott Associates to holdup the Government of Peru. When Peru tried to restructure... MORE
The external debt of emerging market sovereign borrowers is now mainly in the form of bonds held by thousands of institutional and individual... MORE
I compare two competing accounts of the U.S. role in the global economy. In one version, the United States has built an international system that... MORE
This paper challenges the conventional wisdom that unification and harmonization of international commercial law is desirable and should be pursued.... MORE
This paper uses the new literature on norms and rationality to explore why societies develop widespread corruption as a means of organizing economic... MORE
States negotiate over the specific terms of multilateral treaties because those terms determine states' willingness to ratify the treaty. A state... MORE
Over the course of the twentieth century, the effect of state boundaries as hard-and-fast limits on judicial and legislative jurisdiction steadily... MORE
One of the most contested questions in the jus ad bellum is whether and when it is lawful for a state to use force unilaterally before it suffers... MORE