Cross-border insolvency law and multinational enterprise groups: judicial Innovation as an international solution

The Article argues that courts confronting the effects of multinational enterprise insolvency must undertake a pragmatic incursion into the separate entity doctrine. This argument is premised on gaps in the current Model Law which confers significant discretion on the courts. Our research shows that courts have fashioned innovative solutions to fill the gaps and thatgreater recognition of the legitimacy of these judicial incursions into the separate entity doctrine would facilitate the reduction of transaction costs in the case of multinational group insolvencies. We identify criteriawhereby a court would be able to determine that the inherentseparateness of the corporate structure should be disregarded andthe group regarded as one.

Measuring output structures of multinational construction industries using the World Input‒Output Database

In the context of international movement towards trade liberalization, increasing technological progress, open competition and social development have impacted deeply on the construction industry in all economies. Using the World Input–Output Database (WIOD), a multinational comparison of the construction industry is estimated from 1995 to 2011 to provide accurate and valid information on the changing patterns of its output structure. The output coefficients for 37 countries and regions are formulated to allow for inter-industry comparisons and to identify the major components of construction output. Changes of output structure are then elaborated over time across countries and regions. The research findings presented in this paper would provide a framework for identifying the output structure of a nation's construction industry and its change trends at an international level, which may help policymakers and enterprises with the formulation of their future development strategies.