The Global Finance and Law Initiative

Katharina Pistor, who directs the Center on Global Legal Transformation at Columbia Law School, was awarded a grant by the Institute for New Economic Thinking to launch the Global Finance and Law Initiative.

The Initiative is an interdisciplinary and collaborative research project with the goal of constructing a new theory of the relationship between law and finance. An international group of researchers in law and the social sciences will use four relevant case studies drawn from the global financial crisis as analytical windows for determining deficiencies of established theoretical frameworks.

Through the case-study approach, the Global Finance and Law Initiative will harness the dynamic tension between the neoclassical and socially embedded law and economics traditions to reveal the strengths and weaknesses of each paradigm’s constituent assumptions. The Initiative is designed to provide the building blocks for constructing an alternative framework that avoids the shortcomings of both existing approaches.


Michael I. Sovern Professor of Law
Columbia Law School