The Future of International Economic Law


Book Description

This book comprises fifteen specially commissioned contributions from the Editorial Board of the Journal of International Economic Law in celebration of the Journal's tenth anniversary. They were originally published as the third issue of volume 10 of the journal in September 2007.




International and European Monetary Law


Book Description

This book introduces the fundamental monetary law problems of cross-border economic activity and the solutions thereto in international monetary law, and in EU law. After decades of having been neglected by legal scholars, international and European monetary law has attracted increasing attention in recent years. With the European Economic and Monetary Union (EMU), a full-fledged monetary union between sovereign States has been established for the first time in history. Its construction is primarily a work of law, with the Treaties on European Union (TEU) and on the Functioning of the European Union (TFEU) together with a number of protocols forming the constitutional basis. Yet, European monetary Integration has never taken place in isolation from international developments. Moreover, international monetary law, namely the Articles of Agreement of the International Monetary Fund (IMF) has always played a role - initially as the external monetary addition to the internal market project, after the breakdown of the Bretton Woods System in the 1970s as one of the major driving forces for monetary Integration within the EU. On a fundamental basis, international and European monetary law address the same principled problems of monetary cooperation: how to proceed with financial transactions cross-border where no global currency exists. The present work describes the different approaches and relations and interplay between the two legal regimes.




The Brussels Effect


Book Description

For many observers, the European Union is mired in a deep crisis. Between sluggish growth; political turmoil following a decade of austerity politics; Brexit; and the rise of Asian influence, the EU is seen as a declining power on the world stage. Columbia Law professor Anu Bradford argues the opposite in her important new book The Brussels Effect: the EU remains an influential superpower that shapes the world in its image. By promulgating regulations that shape the international business environment, elevating standards worldwide, and leading to a notable Europeanization of many important aspects of global commerce, the EU has managed to shape policy in areas such as data privacy, consumer health and safety, environmental protection, antitrust, and online hate speech. And in contrast to how superpowers wield their global influence, the Brussels Effect - a phrase first coined by Bradford in 2012- absolves the EU from playing a direct role in imposing standards, as market forces alone are often sufficient as multinational companies voluntarily extend the EU rule to govern their global operations. The Brussels Effect shows how the EU has acquired such power, why multinational companies use EU standards as global standards, and why the EU's role as the world's regulator is likely to outlive its gradual economic decline, extending the EU's influence long into the future.




Current Developments in Monetary and Financial Law, Volume 6


Book Description

“Restoring Financial Stability-The Legal Response” is the theme of the sixth volume of “Current Developments in Monetary and Financial Law.” The book covers a range of issues: frameworks and regulatory reforms in the United States, European Union, and Japan that address systemic risk; the international dimension of financial stability; the regulation of complex financial products; cross-border banking supervision; capital adequacy; and corporate and household debt restructuring. The chapters are based on presentations from a seminar hosted by the IMF Legal Department, the Ministry of Finance of Japan, the Financial Services Agency of Japan, and the Bank of Japan, with the assistance of the IMF Institute. The contributors to the volume come from both the public and private sectors, and include academics, lawyers practicing in the fields of banking and financial law, and officials from central banks, supervisory and regulatory agencies, and standard-setting bodies.




The Future of Secured Credit in Europe


Book Description

This volume contains the reports and discussions presented at the conference "The Future of Secured Credit in Europe" in Munich from July 12th to July 14th, 2007. It aims at taking the debate to a new stage by exploring the need and possible avenues for creating a European law of security interests. The first part examines – from an economic and a community law perspective – the case for European lawmaking on secured credit and the legislative approach to be taken. The intention in the second and third part is to look in more detail at the choices European lawmakers will have to make in devising a European law of secured credit. The second part focuses on secured transactions involving corporeal movables (tangibles), whereas the third part considers categories of collateral that may require special rules.







The Future of International Economic Law and the Rule of Law


Book Description

This book explores the contribution that international economic law generally defined make to the rule of law at national and international levels. The contributions of this book either: (i) examine particular features of the rule of law from a viewpoint of the contribution (at international or domestic legal level) that international economic law makes to these features, such as accountable institutions, clarity, judicial review, non-discrimination, predictability, and transparency, as well as the respect of fundamental rights, democracy, and substantive justice; or (ii) make case-studies of countries whose legislation and governmental practice show a correlation - or a lack thereof - between international economic law, on the one hand, and the rule of law, on the other hand. Contributors include: Rafael Leal-Arcas, Queen Mary University of London Giorgio Sacerdoti, Bocconi University Leonardo Borlini, Bocconi University Du Ming, University of Durham Aik Hoe Lim, Trade and Environment Division at the WTO Axel Marx, University of Leuven Velimir Zivkovic, University of Warwick Stephen Minas, King's College London Stuart Bruce, Wilmer Cutler Pickering Hale and Dorr LLP Laura Regueiro, Queen Mary University of London Peter Vajda, Energy Community Secretariat Varvara Aleksic, Central European University Budapest/Vienna Edited by Rafael Leal-Arcas, Jean Monnet Chaired Professor of European and International Economic Law, Queen Mary University of London (Centre for Commercial Law Studies), United Kingdom. This book has been written with the financial support of the Erasmus+ Program of the European Union, which funded my Jean Monnet Chair in EU International Economic Law (project number 575061-EPP-1-2016-1-UK-EPPJMOCHAIR).




The Future of International Economic Law


Book Description

This book comprises fifteen specially commissioned contributions from the Editorial Board of the Oxford Journal of International Economic Law in celebration of the Journal's tenth anniversary. The contributions examine various issues confronting the international economic regime today, and cover a wide range of international economic institutions such as the IMF, the World Bank, and the WTO. It pays particular attention to examining the WTO and its regulatory scope, its systemic and structural deficiencies, its role in development and in liberalising trade in services, its tense relationship to regionalism and to trade-related issues such as environment, competition and dispute settlement in the field of investment. The contributions are authored by leading academics in the field, including lawyers, economists, and political scientists who come from a range of developed and developing country backgrounds. This book constitutes a reflection by important individuals on almost all the major contemporary issues facing the WTO today, and therefore represents a snapshot of the key lines of thinking among many of the leading legal scholars of the WTO and international economic regime which are likely to guide the field in the years to come. This is a book edition of the special 10th anniversary third issue of vol. 10 of the Oxford Journal of International Economic Law September 2007




International Monetary Arrangements for the 21st Century


Book Description

Recent events have reignited the debate over the future of the international monetary system. This book, part of the Integrating National Economic series, examines international monetary options of the twenty-first century. Barry Eichengreen argues that it will not be possible for governments to prevent exchange rates from exceeding prespecified limits. Changes in technology, market structure, and politics will force countries that have traditionally pegged their exchange rates to choose between floating rates and monetary unification. Eichengreen describes the various international monetary arrangements with which policymakers have experimented in the past. He introduces the requirements that an international monetary system must satisfy and illustrates how these requirements have been met over time. He analyzes which preconditions for the smooth operation of international monetary systems in the past will be impossible to achieve in the next century and creates a list of feasible options for future policymakers. These feasible options, he concludes, will be limited to some form of floating exchange rates and monetary unions. In which direction countries should move is not obvious. The choice between floating and monetary unification depends on a host of economic and political factors. The book provides an in-depth analysis of Western Europe's experience and the dramatic international monetary initiatives currently under way, and compares options for Asia, Africa, the former Soviet Union, and the Western Hemisphere. A volume of Brookings' Integrating National Economies Series