The Regulation of International Financial Markets

by Edited by Rainer Grote , Thilo Marauhn

• ISBN13: 9780521103794
• ISBN10: 0521103797
• Edition: 1st
• Format: Paperback
• Copyright: 2008-12-11
• Publisher: Cambridge University Press

Summary

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 (such as the European Central Bank, Basel Committee, IMF and World Bank) 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.

Table of Contents

Introduction: the regulatory dilemma in international financial relations

An Historical Perspective

Monetary governance and capital mobility in historical perspective

A Comparative Perspective

The liberalisation of financial markets: the regulatory response in the United Kingdom

The liberalisation of financial markets: the regulatory response in Germany

Perspectives on US financial regulation

A Public International Law Perspective

The regulation of financial services in the European Union

The free movement of capital in the

International regulation of finance: is regionalism a preferred option to multilateralism for East Asia?

WTO rules on trade in financial services: a victory of greed over reason?

An Institutional Perspective

The European Central Bank as regulator and as institutional actor

The Basle Committee on Banking Supervision - a secretive club of giants?

Strengthening the international financial architecture contribution by the IMF World Bank

A Policy Perspective

Liberalisation and regulation of international capital flows: where the opposites meet

Do we need a new international financial architecture? Many questions and some preliminary policy advice

Proposing built-in stabilisers for the international financial system

Conclusions and agenda for further research

Index

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