| The process of globalization impacts commerce as well as the harmonization of laws on the part of nation states. The United Nations Convention on Contracts for the International Sale of Goods (CISG) is examined here to determine its effectiveness in reducing transaction costs through the harmonization and creation of a single rule of law pertaining to contracts for the international sale of goods between signatories. Review of more than 500 cases filed under the CISG reveals under utilization of the CISG as a means for dispute resolution. Exploratory Prais-Winsten regression analysis on a panel of countries, including signatories as well as non-signatories finds a positive and significant relationship between exports and the CISG. |
