Munich Personal RePEc Archive

Contract law as an alternative possibility for investments in transition economies

Krasniqi, Armand (2010): Contract law as an alternative possibility for investments in transition economies.

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Abstract

Each country which has gone through or is in the process of transition and social-economic transformation, in normal circumstances has its rational objectives to create the conditions for active participation in initial or advanced operations of the international business. Depending on the level of development and international business environment they adopt and execute specific investing strategies. Every responsible government has its duty to evaluate the importance and cost of investments and to create legal possibilities for a safe environment. In practice, entrance and operation of particular enterprises in countries emerging late from economic transition but also in those which will emerge, in the conditions of scale economy, is evaluated to be difficult, if not to say impossible. In this case there is not much left to be chosen except that governments should seriously engage to approximate the legislation with well known international standards by applying international contract principles. It is believed that in the phase of initial operation development, economic progress in the country can be easier, safer, and with low economic cost basing on well known alternative strategies of the entrance type through certain contracts internationally recognised. Alternative possibilities of entrance in trade, guaranteed by contract law of every country and which could be on the licence form, franchises, etc. should be evaluated by all means and possibly executed in order to be a part of international business environment.

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