The Regulation of International Financial Markets: Perspectives for Reform

Description

International financial relations have become increasingly important for the development of global and national economies. At present these relations are primarily governed by market forces, with little regulatory interference at the international level. In the light of numerous financial crises, this abstinence must be seriously questioned. Starting with an analysis of the regulatory problems at the international level, with only minimal powers entrusted to international organisations, this book develops various possibilities for reform. On the basis of an historical analysis, the book first adopts a comparative approach to national attempts to regulate international financial markets, then outlines the potential of relevant institutions and finally develops a policy perspective. It seeks to provide a framework for analysing options for the regulation of international financial markets from a public international law and comparative law perspective.

Senior Research Fellow, Max-Planck-Institut fur auslandisches oeffentliches Recht und Voelkerrecht, Germany. Professor of Public Law, International Law and European Law, Justus-Liebig-Universitat Giessen, Germany.