EU POLICIES REGARDING THE DEVELOPMENT OF TRUST-LIKE DEVICES - RECENT CHALLENGES, ACHIEVEMENTS, PROSPECTS AND TERMINOLOGICAL INSIGHTS

Irina Gvelesiani ()
Additional contact information
Irina Gvelesiani: Associate Professor, Iv. Javakhishvili Tbilisi State University, Georgia

CES Working Papers, 2016, vol. 8(1), issue 1, 93-102

Abstract: “Trust” is a versatile instrument which is suitable for a great variety of purposes. Many scholars believe, that the original form of this institution appeared in common law, while in the 20th century the process of globalization stipulated the “internationalization” of the trust mechanism. The starting point of this process was the conclusion of the Hague Convention on the Law Applicable to Trusts and on their Recognition. Initially, the civil law jurisdictions were unable to adopt “trust” structure in which common-law power and equity power belonged to separate entities. Despite this fact, in the recent years, trust-like devices have been introduced in certain economic-juridical systems of Europe. Their rapid implementation raised the question of the establishment of innovative policies. This paper will discuss the latest achievements and existing challenges based on the example of the German juridical-economic system. The aim is to make useful proposals for the successful planning of the European entrusting processes.

Keywords: globalization; trust; trust-like device (search for similar items in EconPapers)
JEL-codes: K3 (search for similar items in EconPapers)
Date: 2016
References: View complete reference list from CitEc
Citations: View citations in EconPapers (1)

Downloads: (external link)
http://www.ceswp.uaic.ro/articles/CESWP2016_VIII1_GVE.pdf (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:jes:wpaper:y:2016:v:8:i:1:p:93-102

Access Statistics for this article

More articles in CES Working Papers from Centre for European Studies, Alexandru Ioan Cuza University Contact information at EDIRC.
Bibliographic data for series maintained by Alupului Ciprian ().