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Legal Diversity and Regulatory Competition: Which Model for Europe?
Author(s) -
Deakin Simon
Publication year - 2006
Publication title -
european law journal
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.351
H-Index - 54
eISSN - 1468-0386
pISSN - 1351-5993
DOI - 10.1111/j.1468-0386.2006.00326.x
Subject(s) - regulatory competition , competition (biology) , context (archaeology) , federalism , diversity (politics) , reflexivity , competition law , political science , european integration , law and economics , corporate law , european union , law , business , economics , international trade , sociology , market economy , corporate governance , management , geography , social science , politics , ecology , archaeology , biology , monopoly
Two models of regulatory competition are contrasted, one based on a US pattern of ‘competitive federalism’, the other a European conception of ‘reflexive harmonisation’. In the European context, harmonisation of corporate and labour law, contrary to its critics, has been a force for the preservation of diversity, and of an approach to regulatory interaction based on mutual learning between nation states. It is thus paradoxical, and arguably antithetical to the goal of European integration, that this approach is in danger of being undermined by attempts, following the Centros case, to introduce a Delaware‐type form of inter‐jurisdictional competition into European company law.