About the EE ICLR Project
The project on Economic Evaluation of International Commercial Law Reform (EE ICLR) aims to develop standards and guidance on how to evaluate ex ante the economic impact of international commercial law reforms. Economic gains are often stated to be the central and driving objective of, and justification for ICLR. Yet the evidence of such gains, the characteristics of law reform needed to produce them, the data and methodology to establish them, inter alia, have not yet been subject to systematic academic and policy work.
Against this background, the EE ICLR project seeks to address this gap and provide a structured methodology for the ex-ante economic evaluation of the economic impact of such reforms. The project adopts an interdisciplinary approach, bringing together leading experts in law and economics from universities and intergovernmental organisations to advance research and produce guidance on the economic evaluation of international commercial law reform.
The EE ICLR project, run by the Cape Town Convention Academic Project and supported by the UNIDROIT Foundation, resulted in the publication of the Economic Evaluation of International Commercial Law Reform: Framework and Guide, a User Template and two Case Studies.
Economic Evaluation of International Commercial Law Reform: Framework and Guide (2026)
The Economic Evaluation of International Commercial Law Reform: Framework and Guide (EE ICLR Framework and Guide) provides a structured approach for measuring and quantifying, on an ex-ante basis, the potential economic impact of law reforms. Designed to support more informed and evidence-based decision-making, it assists international, regional, and national organisations, governments, and other stakeholders involved in the development, implementation, monitoring, or economic evaluation of commercial law instruments and reform initiatives.
Central to the publication is the Framework based on a formula comprising five key Factors, each designed to capture a distinct dimension of economic impact: direct impact (Factor A), network impact (Factor B), systemic impact (Factor C), effective application (Factor D), and transition costs (Factor E). The Guide complements the Framework by providing practical guidance on its application, including a methodology based largely on Benchmark-driven comparison. Together, the Framework and Guide offer policymakers a structured tool for analysing how legal reforms may influence economic outcomes and for comparing alternative reform scenarios.
The Framework and Guide is available to download free of charge, while hard copies are available for order at 50 EUR per copy by submitting the Order Form.
User Template for the Economic Evaluation of International Commercial Law Reform: Framework and Guide (2026)
The User Template is a practical tool designed to support the application of the Economic Evaluation of International Commercial Law Reform Framework and Guide. It translates the Framework into an operational format, providing users with a structured set of considerations and guiding questions to assist in conducting an ex-ante economic evaluation of commercial law reforms.
Functioning as a practical checklist, the User Template sets out the recommended workflow and the key stages of the evaluation process, while highlighting the principal issues to be considered at each step. It is designed to support the consistent, transparent, and systematic application of the EE ICLR methodology and to help users ensure that all relevant aspects of the evaluation have been adequately addressed.
The User Template is available to download free of charge.
Case Studies
To support the practical application and evaluation of the methodology of the Economic Evaluation of International Commercial Law Reform Framework and Guide, two dedicated Case Studies have been developed and made available within the EE ICLR project. These Case Studies provide practical examples that allow users to test the methodology, gain insights into the application of the Framework and Guide, and build confidence in its use for real-world law reform initiatives.
Economic evaluation of the hypothetical legislative proposal for Dispute Resolution for Cross-border Transactions of Micro, Small and Medium Enterprises (MSMEs) and Rural Communities
Economic evaluation of the legislative proposal for Ships and Maritime Transport Equipment