Soft law and the global financial system

rule making in the 21st century

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Last edited by ImportBot
October 4, 2021 | History

Soft law and the global financial system

rule making in the 21st century

"The global financial crisis of 2008 has given way to a proliferation of international agreements aimed at strengthening the prudential oversight and supervision of financial market participants. Yet how these rules operate is not well understood. Because international financial rules are expressed through informal, non-binding accords, scholars tend to view them as either weak treaty substitutes or by-products of national power. Rarely, if ever, are they cast as independent variables that can inform the behavior of regulators and market participants alike. This book explains how international financial law 'works' - and presents an alternative theory for understanding its purpose, operation and limitations. Drawing on a close institutional analysis of the post-crisis financial architecture, it argues that international financial law is often bolstered by a range of reputational, market and institutional mechanisms that make it more coercive than classical theories of international law predict"--

"The global financial crisis of 2008 has given way to a proliferation of international agreements aimed at strengthening the prudential oversight and supervision of financial market participants. Yet how these rules operate is not well understood. Because international financial rules are expressed through informal, non-binding accords, scholars tend to view them as either weak treaty substitutes, or by-products of national power. Rarely, if ever, are they cast as independent variables that can inform the behavior of regulators and market participants alike. This book explains how international financial law "works" - and presents an alternative theory for understanding its purpose, operation, and limitations. Drawing on a close institutional analysis of the post-crisis financial architecture, it argues that international financial law is often bolstered by a range of reputational, market, and institutional mechanisms that make it more coercive than classical theories of international law predict. As such, it is a powerful, though at times imperfect tool of financial diplomacy, and poses novel opportunities and challenges for the evolving global economic order"--

Publish Date
Language
English

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Book Details


Edition Notes

Includes bibliographical references and index.

Published in
Cambridge, New York

Classifications

Dewey Decimal Class
343/.03
Library of Congress
K4444 .B78 2012, K4430

The Physical Object

Pagination
p. cm.

ID Numbers

Open Library
OL25005411M
Internet Archive
softlawglobalfin0000brum_k7g3
ISBN 13
9781107004849, 9780521181679
LCCN
2011033660
OCLC/WorldCat
747099806, 784400869

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History

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October 4, 2021 Edited by ImportBot import existing book
August 21, 2021 Edited by ImportBot import existing book
September 25, 2020 Edited by MARC Bot import existing book
February 15, 2012 Edited by LC Bot import new book
October 20, 2011 Created by LC Bot import new book