Economic Analysis of International Law
Show Less

Economic Analysis of International Law

Edited by Eugene Kontorovich and Francesco Parisi

Through original and incisive contributions from leading scholars, this book applies economics and other rational choice methods to understanding public international law. The chapters cover a range of topics, from the sources of international law to means of enforcement. The application of economic analysis to public international law is still in its early stages, and Economic Analysis of International Law provides a useful overview, as well as setting directions for new research.
Buy Book in Print
Show Summary Details
You do not have access to this content

Chapter 4: The economic analysis of international treaty law

Francesco Parisi and Daniel Pi


Until the beginning of the twenty-first century, economic analysis of international law was a lamentable rarity, despite the ever-growing influence of law and economics in most other subject-areas of legal scholarship (Dunoff and Trachtman 1999). At least two factors potentially contributed to this unfortunate circumstance. First, international law scholars may have been unfamiliar with the tools used by law and economics scholars, raising a methodological barrier. Second, the normative, political, and doctrinal nature of traditional international law scholarship may have misled law and economics scholars into believing that international law was a too informal, impenetrable or otherwise unfruitful subject for economic analysis. Recent researches happily find that neither of these prejudices were justified. In this chapter, we review some approaches to international treaty law from an economic perspective, offering critical commentary and extensions to those approaches along the way. In Section I, we lay out some of the basic background material on treaty law. In Section II, we discuss the signaling function of treaties. In Section III, we discuss treaty formation and accession. In Section IV, we consider the evolution of treaty law over time, giving particular attention to the issues of ratification and fragmentation. Finally, in Section V, we summarize the results of the chapter and identify areas where further research is needed. The principles of modern treaty law are enumerated in the 1969 Vienna Convention on the Law of Treaties (the ‘Vienna Convention’).

You are not authenticated to view the full text of this chapter or article.

Elgaronline requires a subscription or purchase to access the full text of books or journals. Please login through your library system or with your personal username and password on the homepage.

Non-subscribers can freely search the site, view abstracts/ extracts and download selected front matter and introductory chapters for personal use.

Your library may not have purchased all subject areas. If you are authenticated and think you should have access to this title, please contact your librarian.

Further information

or login to access all content.