Maria Mazhorina

Lex mercatoria: Medieval Myth or Phenomenon of Globalization?

2017. No. 1. P. 4–19 [issue contents]
Lex mercatoria is a phenomenon magnetically attractive for contemporary scholars and practitioners.However, the more information about it exists or appears, less clarity and harmony the concept acquires.Lex mercatoria has both its ardent followers and skeptics seeking to debunk this sublegal myth.The article attempts to shift the perspective and approach of the study to the problems of understandingthe essence of the modern lex mercatoria in a systematic manner through the prism of the historicalprerequisites for the formation of a certain autonomous system of norms and conditions of moderntimes, marked by globalization processes. The author found it interesting to look at lex mercatoria incontemporary legal paradigm, considering the current understanding of those evolutionary processesthat occur in this area. The article examines the issues of institutionalization of lex mercatoria in themodern system of normative regulation of cross-border relations. The business community generates,uses and should qualify the significant pool of non-legal norms that, in fact, are riddled with crossbordertrade and other areas of cross-border communication. Modern lex mercatoria is changing alongwith international commercial arbitration becoming the law to arbitration or the law of arbitration. Theprogressive codification of lex mercatoria, that being a trend this stage of its development, in a sensechanges the nature of lex mercatoria, depriving it of the spontaneity and authenticity. “Super-new lexmercatoria” experiencing, according to some views, its third stage of development, steadily movesaway from its historical roots. To what will eventually lead such a rebirth: the degeneration or the formationof a global legal or sub-legal bulk? All these changes are reflected in law enforcement practice.In this regard, the article is of practice-oriented nature: most recent analyses of written and codifiedsources of lex mercatoria, prospects of application of norms of lex mercatoria by state courts and internationalcommercial arbitrations.
Citation: Mazhorina M. (2017) Lex mercatoria: srednevekovyy mif ili fenomen globalizatsii? [Lex mercatoria: Medieval Myth or Phenomenon of Globalization?]. Pravo. Zhurnal Vysshey shkoly ekonomiki, no 1, pp. 4-19 (in Russian)
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