The Regulation of International Financial Markets: Perspectives for Reform

by Rainer Grote, Thilo Marauhn

Overview

At present primarily governed by market forces with little regulatory interference, international financial relations have become increasingly important for global as well as national economies. Contributors to this volume consider whether this absence of regulation is wise, in the light of recent financial crises. This book accordingly presents a framework for an analysis of the options in regulating international financial markets from the perspective of public international law. The volume will be of interest to scholars and practitioners involved with comparative public law, constitutional economics and financial regulation.

Product Details

ISBN-13:	9780521831444
Publisher:	Cambridge University Press
Publication date:	02/16/2006
Edition description:	New Edition
Pages:	356
Product dimensions:	5.98(w) x 9.02(h) x 0.94(d)

About the Author

Senior Research Fellow, Max-Planck-Institut für ausländisches öffentliches Recht und Völkerrecht, Germany.

Professor of Public Law, International Law and European Law, Justus-Liebig-Universität Giessen, Germany.

Table of Contents

Introduction: the regulatory dilemma in international financial relations Thilo Marauhn; Part I. An Historical Perspective; 1. Monetary governance and capital mobility in historical perspective Benjamin J. Cohen; Part II. A Comparative Perspective: 2. The liberalisation of financial markets: the regulatory response in the United Kingdom Eilis Ferran; 3. The liberalisation of financial markets: the regulatory response in Germany Rainer Grote; 4. Perspectives on US financial regulation John K. M. Ohnesorge; Part III. A Public International Law Perspective: 5. The regulation of financial services in the European Union Volker Roben; 6. The free movement of capital in the European Union Till Hafner; 7. International regulation of finance: is regionalism a preferred option to multilateralism for East Asia? Qingjiang Kong; 8. WTO rules on trade in financial services: a victory of greed over reason? Michael J. Hahn; Part IV. An Institutional Perspective: 9. The European Central Bank as regulator and as institutional actor Thilo Marauhn and Michael Weisz; 10. The Basle Committee on Banking Supervision - a secretive club of giants? Susan Emmenegger; 11. Strengthening the international financial architecture contribution by the IMF and World Bank Axel Peuker; Part V. A Policy Perspective: 12. Liberalisation and regulation of international capital flows: where the opposites meet Peter Nunnenkamp; 13. Do we need a new international financial architecture? Many questions and some preliminary policy advice Stefan Voigt; 14. Proposing built-in stabilisers for the international financial system Kunibert Raffer; Conclusions and agenda for further research Rainer Grote and Thilo Marauhn; Index.