MARC Record from Library of Congress

LEADER: 03472nam a22003018a 4500
001 2011033660
003 DLC
005 20110816163751.0
008 110809s2012 enk b 001 0 eng
010 $a 2011033660
020 $a9781107004849 (hardback)
020 $a9780521181679 (paperback)
040 $aDLC$cDLC
042 $apcc
050 00 $aK4444$b.B78 2012
082 00 $a343/.03$223
084 $aLAW007000$2bisacsh
100 1 $aBrummer, Chris,$d1975-
245 10 $aSoft law and the global financial system :$brule making in the 21st century /$cChris Brummer.
260 $aCambridge ;$aNew York :$bCambridge University Press,$c2012.
263 $a1112
300 $ap. cm.
520 $a"The global financial crisis of 2008 has given way to a proliferation of international agreements aimed at strengthening the prudential oversight and supervision of financial market participants. Yet how these rules operate is not well understood. Because international financial rules are expressed through informal, non-binding accords, scholars tend to view them as either weak treaty substitutes or by-products of national power. Rarely, if ever, are they cast as independent variables that can inform the behavior of regulators and market participants alike. This book explains how international financial law 'works' - and presents an alternative theory for understanding its purpose, operation and limitations. Drawing on a close institutional analysis of the post-crisis financial architecture, it argues that international financial law is often bolstered by a range of reputational, market and institutional mechanisms that make it more coercive than classical theories of international law predict"--$cProvided by publisher.
520 $a"The global financial crisis of 2008 has given way to a proliferation of international agreements aimed at strengthening the prudential oversight and supervision of financial market participants. Yet how these rules operate is not well understood. Because international financial rules are expressed through informal, non-binding accords, scholars tend to view them as either weak treaty substitutes, or by-products of national power. Rarely, if ever, are they cast as independent variables that can inform the behavior of regulators and market participants alike. This book explains how international financial law "works" - and presents an alternative theory for understanding its purpose, operation, and limitations. Drawing on a close institutional analysis of the post-crisis financial architecture, it argues that international financial law is often bolstered by a range of reputational, market, and institutional mechanisms that make it more coercive than classical theories of international law predict. As such, it is a powerful, though at times imperfect tool of financial diplomacy, and poses novel opportunities and challenges for the evolving global economic order"--$cProvided by publisher.
504 $aIncludes bibliographical references and index.
505 8 $aMachine generated contents note: 1. The perils of global finance; 2. Territoriality and regulatory export; 3. The architecture of international financial law; 4. A compliance-based theory of international financial law; 5. How legitimate is international financial law?; 6. Soft law and the global financial crisis; 7. The future of international financial law.
650 0 $aInternational finance$xLaw and legislation.
653 $aSoft law.