Innovativer F?deralismus? – Das ?sterreichische Naturschutzrecht zwischen Deregulierungsdruck und Europ?isierung

Die Angelegenheiten des Natur- und Landschaftsschutzes stellen im Bundesstaat ?sterreich eine wichtige und vergleichsweise abgerundete Landeskompetenz dar. Sie sind in den Kompetenzartikeln der Bundesverfassung nicht ausdrücklich erw?hnt und fallen daher unter die Generalklausel des Art. 15 Abs. 1 der Bundesverfassung (B-VG) und damit in die ausschlie?liche Zust?ndigkeit der L?nder in Gesetzgebung und Vollziehung. Dies bedeutet freilich nicht, dass in der Praxis nicht zahlreiche Abgrenzungsfragen auftauchen würden, weil eine Vielzahl von Umweltschutzkompetenzen, wie etwa das Wasserrecht und das Forstrecht der Gesetzgebungskompetenz des Bundes zugewiesen sind.     

Untersagung des Betriebs eines Spielplatzes wegen L?rms

Keine Zusammenfassung     

L?rmschutz bei Skate- und Inlinebahn auf einem Spielplatz

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Verkehrssicherungspflicht an Bäumen

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Zwangseinbringung ihres Grundstücks in eine Jagdgenossenschaft

Ohne Zusammenfassung     

Trustees versus fiscal agents and default risk in international sovereign bonds

Over the last 10?years, organisations such as the IMF have launched several initiatives to change market practice with respect to sovereign bond contract drafting to ease restructuring after defaults. The first of these, the universal adoption of collective action clauses, was embraced by the market after some hesitation. Another proposal??the more widespread appointment of trustees to represent bondholders in times of crisis, to centralise enforcement action against the debtor and thus to facilitate debt relief??has so far failed to have the desired impact. Amongst other potential reasons for this failure, the argument has been made that to vest enforcement rights in the trustee, as opposed to individual bondholder rights, would be to reduce the deterrence against opportunistic defaults and thus to exacerbate moral hazard. Using a sample of secondary market bond spreads and information on default status, this paper assesses empirically whether sovereign bonds issued under a trust structure indeed carry a higher default risk. It finds no systematic evidence of either a spread premium or higher actual default rates for bonds with collective enforcement rights.     

Comparing urban renewal in Barcelona and Seoul—urban management in conditions of competition among global cities

Cities have become increasingly autonomous economic and political actors which actively respond to the pressures and opportunities of globalisation. Consequently, the urban management of any particular city is often based on the assumption that the city can improve its position against rival cities by efficiently managing its strategic resources and promoting its presumed advantages. Though such an approach to urban management may help cities to improve their global competitiveness and the quality of their residents’ everyday life, it can sometimes result in negative consequences at the local level, thus actually narrowing the development prospects of the cities in the end. This article discusses urban management against the backdrop of the competitive urban policy in Barcelona and Seoul, and compares the local consequences of urban renewal in both cities. Based on a comparison of the two cases of urban renewal, 22@ Activity District in Barcelona and the Cheonggyecheon restoration in Seoul, this article argues that, in conditions of competition among global cities, even very different approaches to urban management and urban renewal may result in similar consequences at the local level.