Banking and Finance Law Commons^™

Black Swans And Black Elephants In Plain Sight: An Empirical Review Of Central Bank Independence, Timothy A. Canova

Faculty Scholarship

No abstract provided.

Yukos Universal V. Russia: Shell Companies And Treaty Shopping In International Energy Disputes, Paul M. Blyschak

Richmond Journal of Global Law & Business

No abstract provided.

The Sovereign Debtor's Prison: Analysis Of The Argentine Crisis Arbitrations And The Implications For Investment Treaty Law, Robert M. Ziff

Richmond Journal of Global Law & Business

Over the last six years, several arbitration panels have released opinions in a series of disputes raised by investors against Argentina. In each case, foreign investors claim that Argentina's use of price controls and currency devaluation following the 2002 economic crisis constituted a violation of bilateral investment treaty obligations. Despite the fact that most claimants make identical allegations, many of these decisions are highly contradictory. In some cases Argentina is absolved of liability, while in others Argentina is held liable for hundreds of millions in damages. In aggregate, the claimants seek enough money to bankrupt the Argentine Republic.

The Changing Face Of Money, Christopher M. Bruner

Scholarly Articles

In this essay I argue that widespread failure to comprehend the intrinsic nature of modern money loomed large in the recent financial and economic crisis, and that broader comprehension of its meaning is a precondition for effective post-crisis reforms. First, I provide a brief history of money, emphasizing its gradual divergence from inherent value. I then consider the value of today's dollar in economic, legal, and psychological terms, arguing that each perspective conveys a single over-arching lesson - that better comprehending our money requires better comprehending ourselves. The introspection that this exercise demands reveals with unique clarity some of the …

International Comparisons Of Bank Regulation, Liberalization, And Banking Crises, Puspa Amri, Apanard P. Angkinand, Clas Wihlborg

Business Faculty Articles and Research

Purpose: The recurrence of banking crises throughout the 1980s and 1990s, and in the more recent 2008-09 global financial crisis, has led to an expanding empirical literature on crisis explanation and prediction. This paper provides an analytical review of proxies for and important determinants of banking crises − credit growth, financial liberalization, bank regulation and supervision.

Design/Methodology/Approach: The study surveys the banking crisis literature by comparing proxies for and measures of banking crises and policy-related variables in the literature. Advantages and disadvantages of different proxies are discussed.

Findings: Disagreements about determinants of banking crises are in part …

After Lehman: International Response To Financial Disputes - A Focus On Hong Kong, Shahla F. Ali, John Koon Wang Kwok

Richmond Journal of Global Law & Business

No abstract provided.

Local To Global: Rethinking Spheres Of Authority After A World Financial Crisis: An Introduction, Franklin A. Gevurtz

Global Business & Development Law Journal

No abstract provided.

Regulating For The Next Financial Crisis, Charles K. Whitehead

Global Business & Development Law Journal

No abstract provided.

Reparations, Microfinance, And Gender: A Plan, With Strategies For Implementation, Anita Bernstein, Hans D. Siebel

Faculty Scholarship

No abstract provided.

Turnabout Is Fair Play: The U.S. Response To Mexico’S Request For Bank Account Information, Kevin Presian

Global Business Law Review

This Note argues that the United States needs to come to a compromise with Mexico over Mexico’s request for information concerning interest paid by U.S. banks to residents of Mexico. The United States could ignore Mexico’s request, but that may create animosity between the two nations. Alternatively, the United States could fully comply with Mexico’s request; however, that may lead to strong opposition from the banking sector. It is in the best interest of the United States to model its compromise on the recent compromise between the United States and Switzerland. While there are issues with this compromise that would …

Card Act's Ability To Pay Proposal Ignites Public Policy Debate, Manley Williams, Sara E. Emley

American University Law Review

No abstract provided.

Financial Reform And The Causes Of The Financial Crisis, Brooksley Born

American University Business Law Review

No abstract provided.

Of The Conditional Fee As A Response To Lawyers, Bankers And Loopholes, Claire Hill, Richard Painter

American University Business Law Review

No abstract provided.

The International Anti-Money Laundering And Combating The Financing Of Terrorism Regulatory Strategy: A Critical Analysis Of Compliance Determinants In International Law, Navin Beekarry

Northwestern Journal of International Law & Business

Concerns about the risks money laundering (ML) and terrorist financing (TF) present to the stability of the international financial system have resurfaced in the context of the liquidity problems faced by financial institutions as a result of the recent credit crisis (2008). Because ML and TF evolve with new criminal activities and methodologies, ML and TF present systemic threats to the stability of the financial system. Addressing new developments in ML/TF and their associated risks requires a sufficiently flexible and adaptable international regulatory strategy. In this paper, I examine the international anti-money laundering and combating the financing of terrorism (AML/CFT) …

Solving Global Financial Imbalances: A Plan For A World Financial Authority, Carlos Mauricio S. Mirandola

Northwestern Journal of International Law & Business

This paper will propose a plan to reform international finance—the World Financial Authority (WFA) Plan. Under such a plan, the IMF and other existing international financial institutions would be reformed and coordinated around a newly created WFA. The WFA would have two core functions. The first function would be to manage international liquidity, thus reducing externalities arising from domestic monetary policies adopted by its members, and addressing global liquidity problems involving financial activities of transnational private banks. The second function would be to help countries make their domestic monetary policies more effective, thus regaining traction and preventing contagion. A central …

The Revolving Door Of Emigration: The Economic Influences Of Remittances In Developing Countries, Laura L. Norris

Northwestern Journal of International Law & Business

Economic incentives play an integral role in many individuals' choices to leave their country of origin. While a person may independently make the decision to migrate, some governments have developed extensive programs to promote the export of workers. Developing nations often initiate such programs for the purpose of acquiring additional sources of foreign exchange and external financing, as emigrants in transnational families can play a critical role in development through remittances. Remittances to developing countries totaled $325 billion in 2010, and they will likely continue to increase along with emigration. The following Comment considers the palpable contribution remittances have on …

Doing Business In Egypt After The January Revolution: Capital Market And Investment Laws, Radwa S. Elsaman

Richmond Journal of Global Law & Business

Despite the Egyptian economy’s remarkable growth during the last decade, unequal treatment at law and unfair distribution of wealth led to the Revolution on January 25, 2011. The Revolution affected investment in Egyptian markets. Reforming business laws— specifically the Capital Market and Investment Laws— has become essential to restore confidence in Egyptian markets. These two branches of business law have undergone many developments over the years, which have improved them significantly. Legal compliance, however, remains a major concern. This Article surveys the economic activity in Egypt from a legal perspective. It evaluates Egyptian laws affecting economic activity by analyzing the …

The Future Of Hedge Fund Regulation: A Comparative Approach: United States, United Kingdom, France, Italy, And Germany, Anne Riviere

Richmond Journal of Global Law & Business

No abstract provided.

Public Participation And The Private Sector: The Role Of Multilateral Development Banks In The Evolution Of International Legal Standards, Daniel D. Bradlow, Megan S. Chapman

Scholarly Articles in Law Reviews & Journals

This paper systematically describes the public participation standards currently applied by multilateral development banks (MDBs) to the private sector and seeks to identify emerging trends and areas for further development or improvement. It begins by outlining the developing body of international law on public participation and its relationship to good development practice. Thereafter, the paper describes the two principle models for standards attached to MDB funding and assistance to the private sector: (1) the World Bank policies applicable to the public sector; and (2) the International Finance Corporation (IFC) standards that are applicable to the private sector and how these …

Securitization And Suburbia, Heather Hughes

Scholarly Articles in Law Reviews & Journals

This Article explores the relationship between one typical form of real estate development finance-the securitized mezzanine loanand one controversial phenomenon-suburban sprawl. It asks foundational questions about the connection between financial transactions and real-world applications of the capital they raise. In this work, sprawl serves as an example of an environmental consequence of applications of capital raised with a common form of transaction. This Article considers the extent to which commercial finance laws release forceful incentives driven by capital markets upon land use decisions, potentially undermining the collective, morally informed determination such decisions require. It rejects the aesthetic aversion to looking …