Northwestern Journal of International Law & Business

http://scholarlycommons.law.northwestern.edu/njilb/

List of Papers (Total 912)

Contingent Capital in European Union Bank Restructuring

The uncoordinated reorganization and resolution of Systemically Important Financial Institutions in different countries pose many challenges. Contingent capital provides a viable alternative for the efficient restructuring and resolution of failing financial institutions. Contingent Capital provides a mechanism for internalizing banks’ failure costs and helps return distressed...

"You Say Nano, We Say No-No:

Special Economic Zones (SEZs) have the potential to be valuable in-struments of economic growth and development in India. Yet, as a result of the resistance facing them, SEZs in India have not delivered economic benefits to their fullest potential. For this reason, reducing the resistance facing SEZs is critical to their success. This article seeks to reduce this resistance by...

Foreign Infrastructure Investment in Chile: The Success of Public–Private Partnerships through Concessions Contracts

Developing countries often have infrastructure needs that far outpace their ability to finance and undertake such projects. The private sector can foster development and help governments meet their infrastructure demands through Public–Private Partnerships (PPPs). PPPs allow governments to shift risk to the private sector and tap into the expertise of profit-maximizing firms...

Recent Decisions under the Investment Canada Act: Is Canada Changing its Stance on Foreign Direct Investment?

With the globalization of the world’s economy, countries have relied heavily on foreign direct investment within their borders to spur domestic economic growth and compete in the global marketplace. Canada, historically a leading destination for foreign investors, has seen its share of global foreign direct investment decline steadily over the past several decades. Most recently...

Regulation Not Prohibition: The Comparative Case Against the Insurable Interest Doctrine

American law requires an insurable interest—a pecuniary or affective stake in the subject of an insurance policy—as a predicate to properly obtaining insurance. In theory, the rule prevents both wagering on individual lives and moral hazard. In practice, the doctrine is avoided by complex insurance transaction structuring to effectuate both origination and transfers of insurance...

The Liability of Online Markets for Counterfeit Goods: A Comparative Analysis of Secondary Trademark Infringement in the United States and Europe

Online trademark infringement and counterfeiting is a growing problem for luxury brands. In recent years, trademark owners have taken aim at the operators of online marketplaces and auction websites, asserting that these defendants are liable for contributory infringement due to sales of counterfeit goods on their sites. In addressing the scope of secondary liability for...

"You Say Nano, We Say No-No:

Special Economic Zones (SEZs) have the potential to be valuable in-struments of economic growth and development in India. Yet, as a result of the resistance facing them, SEZs in India have not delivered economic benefits to their fullest potential. For this reason, reducing the resistance facing SEZs is critical to their success. This article seeks to reduce this resistance by...

U.S. International Tax System at a Crossroads

The current U.S. international tax system, the administration's international tax proposals, and other potential international tax reforms all have ramifications for U.S. businesses, American workers, and the U.S. economy that must be fully discussed and understood. This report focuses on some of the most important facts and perspectives that should be considered as part of that...

Federalism and Concurrent Jurisdiction in Global Markets: Why a Combination of National and State Antitrust Enforcement is a Model for Effective Economic Regulation

The focus of the article is on the proper role of U.S. state governments in regulating international business. The specific issue analyzed is the desirability of having state attorneys general enforce federal antitrust laws in global markets concurrently with federal antitrust regulators. Congress granted state officials this power in 1976. In 2009, however, a large proportion of...

Don't Tread on Me: Has the United States Government's Quest for Customer Records from UBS Sounded the Death Knell for Swiss Bank Secrecy Laws

Privacy protection is a defining characteristic of Swiss culture and a pillar of the Swiss economy. For centuries, the Swiss people have coveted the principles of individual privacy, regularly reaffirming those principles in response to referendums designed to limit them. Swiss banking secrecy, one aspect of privacy, is protected by Swiss criminal and civil laws and professional...

Transfer Pricing and FIN 48: Removing Uncertainty through the Advanced Pricing Agreement Process

The increasing globalization of companies is indisputable, and the multinational enterprise offers many heuristic challenges. Among these are jurisdiction-specific taxation and accounting standards and principles. Enterprises often operate without regard to legal entity structures but rather along business lines. While entities may operate without regard to jurisdictional lines...

Inversions under Section 7874 of the Internal Revenue Code: Flawed Legislation, Flawed Guidance

The Obama Administration's international tax proposals would, if enacted, be likely to increase the U.S. tax costs of many multinational groups that are owned by a U.S. entity. One possible response by the managers or owners of such a group would be to restructure the group via an inversion transaction so that the group would have a foreign corporate parent instead of a US parent...

International Tax Reform Should Begin at Home: Replace the Corporate Income Tax with a Territorial Expenditure

The present U.S. system of international taxation is riddled with problems because it does not satisfy critical principles of economics, justice, or common sense. It fails to accomplish the most important goals that an international system should achieve - that is, protecting the domestic tax base in a way that fosters domestic economic development and the creation of jobs. This...

Credit vs. Exemption: A Comparative Study of Double Tax Relief in the United States and Japan

The overriding issue in international taxation is the problem of double taxation. Under the tax laws of most countries, income may be taxed on the basis of either residence or source. That is, a country may tax residents of the country on worldwide income and may tax nonresidents on income from sources within the country. Thus, if a resident of one country has income from a...

Incremental International Tax Reform: A Review of Selected Proposals

Business people, tax practitioners, and legal academics generally agree that the United States

President's Economic Recovery Advisory Board: Suggested Considerations in Fundamental Reform of the United States Tax Treatment of Income from Cross Border Trade and Investment

The President's Economic Recovery Advisory Board ("PERAB") has as part of its mandated inquiry the reform of the U.S. tax treatment of income from cross border trade and investment. This paper sets forth a short set of recommendations as to tax reform methodology and some substantive proposals. Tax reform should not "start over," or undertake significant changes, without a fairly...

Lowering the Cost of Rent: How IFRS and the Convergence of Corporate Governance Standards Can Help Foreign Issuers Raise Capital in the United States and Abroad

Since the early 1990s the United States has experienced a dramatic growth in the number of foreign firms choosing to trade their shares in U.S. markets. Meanwhile, Europe and other markets have not experienced this effect to the same extent. there has been an observable worldwide growth in stock market capitalization since the 1990s with an increasing number of foreign issuers...

Transparency in Lending in the United States and the United Kingdom: Which Business Model Does It Best

The recent downturn of the global economy, spurred in large part by an unparalleled housing crisis and credit crunch in the United States and abroad, cannot be practicably understood or explained by an examination of isolated factors. Although the impact of the economic downturn has been felt globally, many blame the meltdown of the U.S. subprime mortgage market for their...

Coping with Uncertainty: The Role of Contracts in Russian Industry during the Transition to the Market

In the decade following the collapse of the Soviet Union, Russia earned a reputation for being a chaotic environment for business. Some commentators went so far as to label it as the "Wild East," a scary place where law was largely irrelevant and criminal gangs held sway. In a series of articles, I have begun to fill this gap in the literature by exploring the day-to-day reality...

Judicial Politics and International Investment Arbitration: Seeking an Explanation for Conflicting Outcomes

In taking on the controversial debate over the role of state attorneys general in antitrust enforcement, the article draws upon recent legal and historical scholarship on federalism to argue that globalization requires a paradigm change in concepts of U.S. federalism. While many assume that increasing international economic integration makes state participation in economic...

Of All Things Made in America Why are We Exporting the Penn Central Test

Developing countries enter into bilateral investment treaties ("BITs") in order to increase foreign direct investment ("FDI"). Ignoring this straightforward fact has led to a great deal of confusion in the assessment of BITs and their protection of regulatory takings. This article addresses the question of how a BIT should approach regulatory takings with the purpose of...

Proportional Pragmatism: A Defense of International Arbitration Agreements in the Face of Asymmetrical Paternalism

With foreign direct investment's increasingly important role in the global market, a more comprehensive regulatory system has emerged to guide key participants. Bilateral investment treaties have developed as an essential piece of the emerging regulatory system. Bilateral investment treaties are "[international investment] agreements between two countries for the reciprocal...

Private Commercialization of Space in an International Regime: A Proposal for a Space District

The Soviet Union inaugurated the Space Age in 1957 with the launch of the first artificial satellite, Sputnik I, into the Earth's orbit. Human activity in space, once only a dream, had become reality. The hope for human advancement was immense. However, over the past five decades, the progress of the Space Age has not matched the measure of that hope. National space agencies have...

Short Selling in a Financial Crisis: The Regulation of Short Sales in the United Kingdom and the United States

In a well-regulated market with minimal risk of abuse, the liquidity and information efficiency benefits of short selling far outweigh its potential harm. Contrary to the recent hostility short sellers face from market regulators and the popular press, short sellers in aggregate are neither market villains nor agents of destruction. While a small minority of short sellers have...

Law without Order in Chinese Corporate Governance Institutions

The substantive norms of Chinese corporate governance have been studied extensively inside and outside China. Yet much less attention has been paid to the Chinese institutional environment that determines whether and how far those norms will be made meaningful. While complaints about general lack of enforcement are common, less common are analyses that concretely tie...