Significance of Coordination: A Comparison between the Cape Town Convention and Hague Securities Convention

Abstract The Cape Town Convention is widely regarded as the most successful international convention in terms of ratifications. This essay aims to explore the fundamental reasons behind this success. While it is undeniable that the Cape Town Convention receives substantial industrial support in response to urgent market demands and the innovative protocols it established, this essay argues that this alone does not fundamentally explain its success. Instead, the underlying reason lies in the Convention’s ability to avoid the trap of a false dichotomy – where one side seeks to convince the other to agree with its viewpoint. Rather, the key is to strive for a viable compromise that accommodates the perspectives of both, or even multiple stakeholders. This proposition will be illustrated by drawing on the social science concept of coordination, through a comparative analysis of the drafting processes of the Cape Town Convention and the Hague Securities Convention.