Pierre-Hugues Verdier

Nomura Visiting Professor of International Financial Systems

Spring 2017

Biography

Pierre-Hugues Verdier is E. James Kelly, Jr. – Class of 1965 Research Professor at the University of Virginia School of Law. He specializes in public international law, banking and financial regulation, and international economic relations. His current research focuses on the reception of international law in domestic legal systems, foreign state immunity and customary international law. He is also working on a book-length project on U.S. and foreign prosecutions targeting global banks. His research has appeared in multiple law reviews, peer-reviewed journals and edited volumes, and he has delivered numerous lectures on his work in the United States and internationally.

Prior to joining the faculty of the University of Virginia School of Law, Professor Verdier was a law clerk for the Supreme Court of Canada, practiced corporate and financial law with Cleary Gottlieb Steen & Hamilton in New York City, and was a visiting assistant professor at Boston University School of Law. Since joining the UVA Law faculty, he has been a visiting professor at the University of Chicago Law School (Fall 2014) and the University of Münster (Summer 2014). He will be a visiting professor at Harvard Law School in the spring of 2017.

Professor Verdier is a graduate of the joint civil law and common law program of the Faculty of Law, McGill University, and obtained LL.M. and S.J.D. degrees from Harvard Law School, where he was a Trudeau Scholar, a John M. Olin Fellow in Law and Economics, and a Graduate Student Associate at the Weatherhead Center for International Affairs. He was the fifth Canadian national to be awarded the Diploma of the Hague Academy of International Law since its establishment in 1950. Professor Verdier is a member of the bars of New York and Ontario.

Areas of Interest

Pierre-Hugues Verdier & Erik Voeten, How Does Customary International Law Change? The Case of State Immunity, 59 Int’l Stud. Q. 209 (2015).
Categories:
International, Foreign & Comparative Law
Sub-Categories:
International Law
Type: Article
Abstract
Customary international law (CIL) is a fundamental source of international law. But scholars lack a clear understanding of customary international law, as well as systematic statistical analyses of its workings. Existing theories posit that CIL is a cooperative equilibrium that can be sustained through reciprocity. Yet, CIL lacks institutional features that facilitate reciprocity and is commonly understood to apply universally, even to states that defect or reject a norm. Because the continued existence of CIL depends on state practice, the potential precedential effect of defection encourages cooperation as long as states value the cooperative norm. Consequentially, a state's decision to apply a CIL norm should be a function of the extent to which the norm is practiced in the community of states it interacts with rather than the past behavior of the specific state in an interaction. We test the implications with newly-collected data documenting if and when 121 states switched from absolute to restrictive foreign state immunity. We find no evidence of direct reciprocity. States that most valued absolute immunity and whose defection would most affect others were least likely to defect, but states became more likely to defect as the states whose practice most affected them defected.
Pierre-Hugues Verdier & Erik Voeten, How Does Customary International Law Change? The Case of State Immunity, 59 Int’l Stud. Q. 209 (2015).
Categories:
International, Foreign & Comparative Law
,
Banking & Finance
Sub-Categories:
Financial Reform
,
Risk Regulation
,
International Law
,
International Monetary Systems
Type: Article
Pierre-Hugues Verdier, Transnational Regulatory Networks and Their Limits, 34 Yale J. Int’l L. 113 (2009).
Categories:
International, Foreign & Comparative Law
Sub-Categories:
International Law
,
International Monetary Systems
,
International Trade
,
Trade Regulation
,
Treaties & International Agreements
Type: Article

Education History

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