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Articles 1 - 4 of 4
Full-Text Articles in Banking and Finance Law
Making Banks On A Global Scale: Management-Based Regulation As Agencement, Mika Viljanen
Making Banks On A Global Scale: Management-Based Regulation As Agencement, Mika Viljanen
Indiana Journal of Global Legal Studies
This article seeks to provide a theoretical account of how management-based regulation (MBR), a new regulatory style used by many global regulators, affects its targets. The article centers on a case study. It introduces agencement theory as the theoretical heuristic to inform the analysis of a global, large-scale MBR scheme, the Basel Committee on Banking Supervision's Internal Capital Adequacy Assessment Program (ICAAP). In agencement theory, agency is understood in a neomaterialist frame. The core idea is that an actor's actions are determined by the material assemblage that constitutes her. The agencement heuristic allows ICAAP to be conceptualized as a regulatory …
The Esa Guidelines: Soft Law And Subjectivity In The European Financial Market-Capturing The Administrative Influence, Jakob Schemmel
The Esa Guidelines: Soft Law And Subjectivity In The European Financial Market-Capturing The Administrative Influence, Jakob Schemmel
Indiana Journal of Global Legal Studies
The disastrous performance of European financial-market regulation during the 2008 financial crisis convinced the European powers-that- be of the urgent need for further integration. Since then the European Union (EU) has established three European Supervisory Authorities (ESAs), which are commissioned to enhance capacity and harmonization of the European banking, insurance, and capital markets law. In carrying out this task, the ESAs employ so called ESA Guidelines, which have caught the attention of practitioners and scholars alike. As soft law, they bear a strong resemblance to instruments used on the global level to regulate the financial markets and therefore might fall …
The International Investment Regime After The Global Crisis Of Neoliberalism: Rupture Or Continuity?, Nicolas Perrone
The International Investment Regime After The Global Crisis Of Neoliberalism: Rupture Or Continuity?, Nicolas Perrone
Indiana Journal of Global Legal Studies
This article aims to show that the tools being used to recalibrate the international investment regime, in particular proportionality and corporate social responsibility, constitute continuity rather than rupture with neoliberalism and neoliberal legality. Neoliberalism has been discredited, and few actors suggest a return to self-regulation after the 2008 global economic crisis. This call for regulation, however, finds international economic law scholarship divided between those who claim that standards of review and corporate social responsibility can solve the crisis of neoliberalism, and those who believe that the problem is more profound. In the case of the international investment regime, this article …
Contesting Austerity: The Potential And Pitfalls Of Socioeconomic Rights Discourse, Joe Wills, Ben Warwick
Contesting Austerity: The Potential And Pitfalls Of Socioeconomic Rights Discourse, Joe Wills, Ben Warwick
Indiana Journal of Global Legal Studies
This article argues that, while socioeconomic rights have the potential to contribute to the contestation of austerity measures and the reimagining of a "postneoliberal" order, there are a number of features of socioeconomic rights as currently constructed under international law that limit these possibilities. We identify these limitations as falling into two categories: "contingent" and "structural". Contingent limitations are shortcomings in the current constitution of socioeconomic rights law that undermine its effectiveness for challenging austerity measures. By contrast, the structural limitations of socioeconomic rights law are those that pertain to the more basic presuppositions and axioms that provide the foundations …