This paper analyzes the regulation of interfirm contracting in Germany, Britian, and Italy. Contrary to earlier empirical studies and to models drawn from transaction-cost theory, the authors find that contract law may play an important role in underpinning long-term, cooperative relationships...

The neoliberal policy of deregulation has failed to bring about significant improvements in the efficiency of the labor market in Britain. Cuts in social protection and legal constraints upon collective bargaining have contributed to growing inequalities in income and security of employment,...

Changes in public policy and corporate strategy have enhanced the role of contracts as mechanisms of economic governance. The understanding that norms, standards, and other forms of regulatory mechanism can affect the structure of incentives and the quality of contractual outcomes has helped to...