Examines the role of small, medium and micro enterprises (SMMEs) in employment and the economy in South Africa and assesses the impact of the policy and legislative environment on these enterprises. Focuses on the number and quality of jobs being created in the sector.

In the age of globalization the relevance of international trade has increased tremendously. As a consequence, many transactions go beyond the legal framework of the nation state. Mechanisms provided by the nation states are not anymore suitable to secure international transactions. The...

The Canadian Depository for Securities (CDS) is the operator of the securities settlement system. The design and operations of the CDS are covered by a solid legal basis. The regulatory framework is clear and transparent to market participants. The risk management procedures of the CDS as a...

Transformation is a process closely connected with reforms in the property-rights regime, but retransfering the ownership has been the core of this process in all post communist countries. The objective of this article is to analyse the drafting of commercial legislation in Albania and Macedonia...

In just over a decade after independence, the three Baltic countries, Estonia, Latvia, and Lithuania, have transformed themselves into fully functioning, small open-market economies that will be joining the European Union. Capital Markets and Financial Intermediation in The Baltics analyzes the...

According to the explanatory memorandum, by adopting a new Civil Code the intention was to introduce the regulatory monistic conception of t he relations in private law in one code. Therefore the legislator declares that it incorporated “all” regulations regarding persons, family relations...

The paper analyses the legal transfer of formal rules regulating stock markets in Spain between 1800 and 1936. We argue that the transfer of French legislation in the 1830s provoked a “transplant effect”, which generated serious distortions in Spanish financial markets. As a result, Spain...