Logic of Financial Nationalism
Logic of Financial Nationalism Using case studies ranging from cross-border bank resolution to sovereign debt, the author analyzes the role of international law in protecting financial sovereignty,…
Specifikacia Logic of Financial Nationalism
Logic of Financial Nationalism
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. 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. Despite the post-crisis reforms, the global financial system is still mainly based on a logic of financial nationalism.
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 This is an inefficient approach because it encourages bad domestic governance and reduces capital mobility.