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"Law and Markets examines the interaction between legal rules, market forces and prices. It emphasises the economic effects of legal rules on individual incentives in both market and non-market settings, and draws on cases and materials from a wide variety of legal jurisdictions to illustrate economic principles"--

AbstractSafety standards, including food safety laws, provide necessary infrastructure to improve market quality. The present study investigates the impact of the revised Chinese Food Safety Law on the quality of China's food market. Using an event study approach, we empirically analyse the impact of nine official news events relating to the new Food Safety Law on the stock prices of companies engaged in food‐related businesses. The study demonstrates that three news events have a statistically significant and robust impact, and that all the events have a negative influence on the prices. The results show the possibility of a drop in market quality in the short term in the process of improving quality.

This article explores regional integration projects in the global South and constraints upon them, in particular the social dislocations caused by global and European trade policies, and the response of states in the South to the institutional design of the global trade regime. Its focus is on the use of economic sociology of law as a methodological approach through which to rethink the relationship between law, markets and state – and to explore how these interact in the context of one regionalization project (the European Union (EU)) as well as interrogating whether economic sociology can similarly cast light on another regionalization project (the African Union (AU)). The rise of the market as the 'metric of the rationality of law and policy' challenges labour market institutions, especially in the context of cross-national market integration projects (namely the EU and the AU) of which a core raison d'être is that labour is commodified as one of the factors of production. The article examines the role of the 'social state' and of labour market institutions as part of an array of adjustment mechanisms responding to the liberalization of trade and the opening of national borders: to what extent can social law and social rights mediate the operation of markets, and what does this mean when viewed from the perspective of developing as well as industrialized countries?