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Working Paper

How Global Rules are established and stabilized

Kiel Working Papers, 1388

Authors

  • Siebert
  • H.

Publication Date

JEL Classification

A12 F15 F02 K00 N00 P00

Key Words

bargaining for cooperation gains

dispute settlement

gains from cooperation

global public goods

institutional competition

international courts

International relations

negative spillovers

positive mechanisms

Sanctions

Sanktionen

self-enforcing contracts

side payments

transaction costs

This paper analyzes how international rules are established and stabilized, i.e. how an international institutional order develops. Rules emerge mainly through learning from negative experience and serve to reduce transaction costs. The paper looks at mechanisms that stabilize rule systems, at bargaining procedures for cooperation gains, dispute settlement, sanctions, side payments, self-enforcing contracts, waivers and regional integrations within a multilateral order. In addition it analyzes the prevention of negative spillovers, international courts and global public goods.

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