There has been a good deal written on whether globalization will cause corporate laws around the world to converge around the most efficient model. As we are aware, a variety of local forces, among which are the random effects of path dependent choices, have shaped corporate law as it has evolved in a territorially-bound fashion. In this paper I critique the arguments many commentators have put forth in support of their prediction of convergence. At the same time this paper will make the case that not only is it far more likely that convergence will occur in securities law than it will in corporate law, but also that it is far more important that such convergence occur.

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The Corporate Governance in East Asia 2007 Conference papers were published on the Asian-Pacific Law & Policy Journal, Volume IX, Issue 1.