In the globalizing economy, national policymakers are often forced to accept the challenge of financial integration. Faced with the potentially destabilizing effects of international financial markets, they have to strengthen financial regulation, importing international best practices and...

It is unlikely that there has been anything like it since the great codifications of the 19th century. The introduction of new legislative frameworks in China and neighbouring Viet Nam over the past 20 years has been ambitious and audacious, particularly in view of the inherent tensions involved...

In the aftermath of the Asian Financial Crisis, and the criticism directed towards the International Monetary Fund, in particular, for not having seen it coming, the Financial Stability Forum (FSF) was created in 1999 under a mandate from the G7 ministers of finance and central bank governors....

In the aftermath of the Asian Financial Crisis, and the criticism directed towards the International Monetary Fund, in particular, for not having seen it coming, the Financial Stability Forum (FSF) was created in 1999 under a mandate from the G7 ministers of finance and central bank governors....

The impetus behind this paper is unease. It is unease with a current discourse on international financial standards and their nature and role in international markets. The new discourse looks to gradations of normativity, "soft" through "hard" law, and points in-between, such as "coercive soft...

At a time of such great turbulence, looking to the future directions of capital markets and their regulation in developed economies is a particularly risky business. We are in the midst of a great sea change.Nevertheless, there are several current, and readily observable, phenomena which are...

The global financial crisis has cast a strong light on some hitherto obscure corners of the financial world, provoking an outpouring of calls for concerted international action. “Hard law” having disappointed, can “soft law”, in the form of international financial standards, substitute...