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The logic of financial nationalism : the challenges of cooperation and the role of international law

Lupo-Pasini, Federico author Save to your list

Publication Details Cite/Export

  • Creator Federico Lupo-Pasini
  • Format Books
  • Publication Cambridge, United Kingdom ; New York, NY : Cambridge University Press, 2017. ©2017
  • Physical Details
    • x, 298 pages ; 24 cm
  • ISBNs 1107189020, 9781107189027
  • OCLC ocn982092236

Summary

  • "Using case studies ranging from cross-border bank resolution to sovereign debt, the author analyzes the role of international law in protecting financial sovereignty, and the risks for the global financial system posed by the lack of international cooperation. Despite the post-crisis reforms, the global financial system is still mainly based on a logic of financial nationalism. International financial law plays a major role in this regard as it still focuses more on the protection of national interests rather than the promotion of global objectives. This is an inefficient approach because it encourages bad domestic governance and reduces capital mobility. In this analysis, Lupo-Pasini discusses some of the alternatives (such as the European Banking Union, Regulatory Passports, and international financial courts), and offers a new vision for the role of international law in maintaining and fostering global financial stability. In doing so, he fills a void in the law and economics literature, and puts forward a solution to tackle the problems of international cooperation in finance based on the use of international law"--
  • "Using case studies ranging from cross-border bank resolution to sovereign debt, the author analyses the role of international law in protecting financial sovereignty, and the risks for the global financial system posed by the lack of international cooperation. Despite reforms, international financial law is still mainly based on financial nationalism, which is an inefficient approach because it encourages bad domestic governance and reduces capital mobility. In this analysis, Lupo-Pasini discusses some of the alternatives (such as a European Banking Union, binding international law and international financial courts), and offers a new vision for the role of international law in maintaining and fostering global financial stablity. In doing so, he fills a void in the law and economics literature, and puts forward a solution to tackle the problems of international cooperation in finance based on the use of international law"--

Notes

  • Includes bibliographical references and index.

Contents

  • Machine generated contents note: Introduction; 1. The logic of externalities; 2. Nationalism and cooperation in international finance; 3. The perils of home-country control; 4. Cross-border banking; 5. Nationalism in sovereign debt; 6. Coordination battles in OTC derivatives regulation; 7. Centralization and its limits; 8. Compliance and global coalitions in international finance law; 9. A different path to financial integration: regulatory passports; 10. Dispute resolution; Concluding remarks

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