Globalisation of Law and Development
Summer Semester 2018
Take home Examination
Instructions for candidates
[This exam is worth 40 per cent of the unit grade.]
Word limit 2,000 (not including citations)
Due date 3 pm, Friday, 9 February 2018.
Return a typed paper copy of the examination answers to the Assignment box which is located on Level 3, Building S Caulfield Campus by the due date. It is located outside the Department of Business Law and Taxation Office.
The examination answers should be typed in 12 point characters and at 1.5 line spacing.
You may use any source material to answer the questions that you think are appropriate. Internet sources must have active links and foreign language materials must have English translations of the title and publisher.
For further details refer to the Take Home Exam General Instructions Posted on Moodle.
Faculty marking policy consult the Unit Guide posted on Moodle.
Please note that this is an examination and you must declare whether you received any outside assistance in preparing your answer.
Please answer two questions from the following questions. Each question is worth the same number of marks.
Selecting at least one east-Asian jurisdiction you have looked at in this Unit, examine how corporate governance rules and structures have evolved following the Asian financial crisis of 1997-98. How has this evolution been influenced by global models and standards of corporate governance? Provide case examples to illustrate your answer.
Over the last thirty years Islamic courts are gaining influence in some countries in Southeast Asia. Select one country in this region and explain how Islamic courts are spreading their influence. Do the Islamic courts apply to everyone in the selected country? If not, how are conflicts between the government and Islamic courts resolved? Provide case studies to illustrate your answer.
Using at least two case study examples, discuss the way in which international standards governing project financing have been adapted by the major Chinese banking institutions. What was the origin of the standards and how were they adapted into the local context? Would you describe this adaption and localization as formal, functional and/or hybrid convergence?
Reflecting on forty years of law and development reforms, Trubek and Santos (2006, p. 86) said that ‘Law and Development veterans could only sigh as they saw many of the errors of the past being repeated. For them, the emphasis on top-down, one size fits all reform, suggested that little had been learned from prior experiences.’
What do you think were the main mistakes made by law and development programs? Is the key problem matching law and development reforms with the regulatory capacity of the recipient country (ie: the fifth law & development wave) Illustrate your answer with case examples from Asia.
(Trubek, D. and Santos, A. (eds.), 2006. The New Law and Economic Development: A Critical Appraisal. Cambridge University Press.)
Indicators are an important type of new transnational governance. Using an example of global indictors explain how the indictors change regulatory behaviour in a country in East Asia. What types of behaviour are the indicators attempting to change? Why does the government in the selected country want to improve the indicator ranking for the country? What are the regulatory assumptions underlying the indicators?
Increasingly new transnational governance is shaping the domestic legal and regulatory systems in East Asia. Select one Asian country as a case example, and then discuss how a particular type of new transnational governance has by-passed state agencies and directly influenced local businesses. Your answer should use case studies explaining how the new transnational governance influenced the local businesses. How was the regulatory information communicated to the businesses? Did the regulatory information change the behaviour/thinking of the local business?
What are the challenges for a conventional banking system when regulators want to facilitate the entry and growth of Islamic banking? You answer should focus on one banking system that has only recently (within the past 15 years) begun to introduce Islamic banking. Has the introduction been successful? Why or why not? What barriers to the successful growth of the Islamic banking sector in your chosen jurisdiction still remain?