{"title":"幻化市场:比较国际经济法中的估值","authors":"Toni Marzal","doi":"10.1093/jiel/jgae021","DOIUrl":null,"url":null,"abstract":"\n This article focuses on the neglected relationship between market valuation and international economic law by comparing valuation practices in four subfields: international investment law, the law of the European Convention of Human Rights, international tax law, and World Trade Organization law. The operation of each of these hinges, in some crucial respect, on how the worth of a certain thing is determined by the market (calculating damages awarded to investors, identifying a breach of the right to property due to insufficient compensation, allocating taxable income among sovereigns under transfer pricing rules, and identifying the existence and extent of an actionable subsidy). Because the market is often either nonexistent or unreliable, the law must imagine how the market would have valued it. This operation is not mere fact-finding or a technical appendix but rather deeply entangled in the construction and operation of the legal regime. The article ultimately shows that the relationship between valuation and international economic law is highly complex, mutually transformative, and productive of multiple possible arrangements.","PeriodicalId":46864,"journal":{"name":"Journal of International Economic Law","volume":null,"pages":null},"PeriodicalIF":2.6000,"publicationDate":"2024-05-22","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"0","resultStr":"{\"title\":\"Conjuring markets: valuation in comparative international economic law\",\"authors\":\"Toni Marzal\",\"doi\":\"10.1093/jiel/jgae021\",\"DOIUrl\":null,\"url\":null,\"abstract\":\"\\n This article focuses on the neglected relationship between market valuation and international economic law by comparing valuation practices in four subfields: international investment law, the law of the European Convention of Human Rights, international tax law, and World Trade Organization law. The operation of each of these hinges, in some crucial respect, on how the worth of a certain thing is determined by the market (calculating damages awarded to investors, identifying a breach of the right to property due to insufficient compensation, allocating taxable income among sovereigns under transfer pricing rules, and identifying the existence and extent of an actionable subsidy). Because the market is often either nonexistent or unreliable, the law must imagine how the market would have valued it. This operation is not mere fact-finding or a technical appendix but rather deeply entangled in the construction and operation of the legal regime. The article ultimately shows that the relationship between valuation and international economic law is highly complex, mutually transformative, and productive of multiple possible arrangements.\",\"PeriodicalId\":46864,\"journal\":{\"name\":\"Journal of International Economic Law\",\"volume\":null,\"pages\":null},\"PeriodicalIF\":2.6000,\"publicationDate\":\"2024-05-22\",\"publicationTypes\":\"Journal Article\",\"fieldsOfStudy\":null,\"isOpenAccess\":false,\"openAccessPdf\":\"\",\"citationCount\":\"0\",\"resultStr\":null,\"platform\":\"Semanticscholar\",\"paperid\":null,\"PeriodicalName\":\"Journal of International Economic Law\",\"FirstCategoryId\":\"90\",\"ListUrlMain\":\"https://doi.org/10.1093/jiel/jgae021\",\"RegionNum\":1,\"RegionCategory\":\"社会学\",\"ArticlePicture\":[],\"TitleCN\":null,\"AbstractTextCN\":null,\"PMCID\":null,\"EPubDate\":\"\",\"PubModel\":\"\",\"JCR\":\"Q1\",\"JCRName\":\"LAW\",\"Score\":null,\"Total\":0}","platform":"Semanticscholar","paperid":null,"PeriodicalName":"Journal of International Economic Law","FirstCategoryId":"90","ListUrlMain":"https://doi.org/10.1093/jiel/jgae021","RegionNum":1,"RegionCategory":"社会学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"Q1","JCRName":"LAW","Score":null,"Total":0}
Conjuring markets: valuation in comparative international economic law
This article focuses on the neglected relationship between market valuation and international economic law by comparing valuation practices in four subfields: international investment law, the law of the European Convention of Human Rights, international tax law, and World Trade Organization law. The operation of each of these hinges, in some crucial respect, on how the worth of a certain thing is determined by the market (calculating damages awarded to investors, identifying a breach of the right to property due to insufficient compensation, allocating taxable income among sovereigns under transfer pricing rules, and identifying the existence and extent of an actionable subsidy). Because the market is often either nonexistent or unreliable, the law must imagine how the market would have valued it. This operation is not mere fact-finding or a technical appendix but rather deeply entangled in the construction and operation of the legal regime. The article ultimately shows that the relationship between valuation and international economic law is highly complex, mutually transformative, and productive of multiple possible arrangements.
期刊介绍:
The Journal of International Economic Law is dedicated to encouraging thoughtful and scholarly attention to a very broad range of subjects that concern the relation of law to international economic activity, by providing the major English language medium for publication of high-quality manuscripts relevant to the endeavours of scholars, government officials, legal professionals, and others. The journal"s emphasis is on fundamental, long-term, systemic problems and possible solutions, in the light of empirical observations and experience, as well as theoretical and multi-disciplinary approaches.