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International Financial System: Policy and Regulation

International Financial System: Policy and Regulation

Paperback

Series: Kluwer Law International

General Law

Currently unavailable to order

ISBN10: 9041128689
ISBN13: 9789041128683
Publisher: Kluwer Law International
Published: Mar 20 2009
Pages: 193
Weight: 0.65
Height: 0.50 Width: 5.90 Depth: 9.40
Language: English

'History has a way of repeating itself in financial matters because of a kind of sophisticated stupidity, ' John Kenneth Galbraith once wrote. In this superb new book, Ross Buckley suggests that the stupidity identified by Galbraith can be traced to the persistence of an inadequate legal system for the regulation of international finance - a system rooted in the failure of economists and investors to take the legal demands of real-world finance seriously. Everywhere, trade is glorified while finance tends to be taken for granted. Yet financial flows far exceed trade flows, by a factor of over sixty to one; international financial transactions represent a far greater proportion of the practice of most major law firms than do trade transactions; and international finance, when it goes wrong, brings appalling suffering to the poorest citizens of poor countries.

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General Law