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Rights, Responsibilities and Regulation of International Business.

Research output: Contribution to journalJournal article

Published

Journal publication date1/01/2003
JournalColumbia Journal of Transnational Law
Journal number1
Volume42
Number of pages22
Pages131-152
Original languageEnglish

Abstract

This essay discusses the paradox of the emergence of corporate codes of conduct in the 1990s, following pressures from consumer and labor activism, in a period of more general liberalization of international investment leading to deregulation. It suggests that the advantages of flexibility and adaptability to specific circumstances offered by such codes are counterbalanced by their self-selected content and inadequate enforcement. Rejecting the assumption that there is a sharp distinction between voluntary standards and binding law, the essay analyzes various ways of grounding codes in legal obligations. It proposes that a safer and more dependable environment for international investment could be provided by a framework agreement, which would link binding standards for corporate social responsibility in key areas, such as combating bribery and cooperation in tax enforcement, with traditional investor rights based on investor protection and liberalization rules.

Bibliographic note

RAE_import_type : Journal article RAE_uoa_type : Law