LAW AND ECONOMY, CONSTITUTIONAL ECONOMY/PUBLIC CHOICE AND ECONOMIC CONSTITUTION: REGULATION OF THE STOCK MARKET AND THE MARKET OF INNOVATION

• Grant number: 11/01197-7
• Support Opportunities: Scholarships in Brazil - Post-Doctoral
• Start date: June 01, 2011
• End date: May 31, 2012
• Field of knowledge: Applied Social Sciences - Law - Public Law
• Principal Investigator: José Raymundo Novaes Chiappin
• Grantee: Ana Carolina Corrêa da Costa Leister
• Host Institution: Faculdade de Economia, Administração e Contabilidade (FEA). Universidade de São Paulo (USP). São Paulo , SP, Brazil

Abstract

The objective of this research is to deal with the state intervention in the economic order under its indirect form, the regulation of markets, whose legal rule is in Title VII - Of the Economic and Financial Order, of the Constitution of the Federative Republic of Brazil of 1988. For this, one configures as objective of this intervention and regulation of markets the construction and the designing of markets with structure of monopoly to decide problems of risk and information assymmetrical proceeding from the uncertain and indetermined relation between contracts law (contracts) and rights in rem (regimes of property) in two markets, the stock market and the market of technological innovation (protection to the incorporeal personal properties), adopting as thesis that the the stocks has immaterial properties, and, therefore, it can be classified as species of these goods (immaterial god). The argument to be developed to solve problems of risk and asymmetry of information in these markets involves the use of the law and the economy of the regulation as mechanism of to define optimal size of market, assuming that in these markets the perfect competition is less efficient than the structure market of competitive monopoly. The argument intends, equally, to point that it is the separation between contracts laws and rights in rem one of the generating focos central of the risks and asymmetry of information in these markets, aiming at, therefore, the regulation to promote an approach enters these two fields of the right in intention to minimize such problems.