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Legal Foundations of International Monetary Stability

Legal Foundations of International Monetary Stability

Author: Rosa María Lastra
Publisher: Oxford University Press
ISBN: 9780199269341
Published In: June 2006
Format: Hardback , 600 pages
Jurisdiction: International ? Disclaimer:
Countri(es) stated herein are used as reference only

New Edition is available now !

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Contents
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Describes the legal framework promoting, and policy implications of, monetary and financial stability
Systematic treatment of national, European and international developments in monetary and financial law with emphasis on public law aspects
Presents the framework for the prevention and resolution of financial crises, nationally and internationally
Logical and sound analysis on the range of issues currently discussed by academics and practitioners specialising in this field
Examines the foundations of international monetary law, with a detailed analysis of the law of the IMF and the Law of the European Central Bank

Legal Foundations of International Monetary Stability

which will appeal to both practitioners and academics, is a book on monetary law and related aspects of financial regulation providing a systematic and thorough study of how national, supra-national and international developments have dramatically changed the dynamic field of monetary law over the last two decades. Lastra looks at this in three main parts.

Beginning with the notion of monetary sovereignty, its attributes and limitations, the author goes on to analyse the concept of monetary stability and the institutional developments to promote it, in particular independent central banks and currency boards. Since a sound banking system is essential for maintaining monetary stability, the book also presents a legal study of the design of supervision and of the mechanisms available to the national authorities to confront banking crises and to maintain financial stability. The monetary law reform process in emerging economies is also examined.

The second part of the book covers European monetary law, the history of monetary integration in Europe, the institutions of Monetary Union (the European System of Central Banks and the Euro) and the functioning and challenges confronted by this new institutional arrangement, in particular with regard to the governance structure for financial regulation and supervision.

In the third part the international monetary system, its history and institutions, with emphasis on the law of the International Monetary Fund, is examined. It also presents a rethinking of the way international financial institutions manage financial crises.

This new text fills a gap in the current public international law literature for a systematic and comprehensive text on the international monetary and financial system and is essential reading for academics and practitioners in the field of monetary law.

Readership: Legal scholars (as well as students of monetary and financial law) and legal practitioners; central banks and monetary agencies around the world; monetary economists and experts from other professions and disciplines dealing with monetary and financial issues; the central banking/banking law fraternity and the international economic law fraternity; supervisory and monetary agencies from developed and developing countries

Part I: Developments at the National Level
1: Monetary Sovereignty and its Surrender
2: Institutional Developments to Promote Monetary Stability
3: Institutional Design of Supervision
4: Banking Crises and Stability of the Financial System
5: Monetary and Financial Law Reform in Emerging Economies
Part II: Developments at the EU Level
6: History of Monetary Integration in Europe
7: The Institutions of Monetary Union
8: Economic Policy Co-ordination ('Economic Union')
9: External Aspects of EMU
10: Banking Supervision and Lender of Last Resort in the EU
11: European Financial Architecture
Part III: Developments at the International Level
12: History of International Monetary Co-operation
13: The Law of the International Monetary Fund
14: International Financial Architecture

Professor Rosa Maria Lastra, Professor of International Financial and Monetary Law, Centre for Commercial Law Studies, Queen Mary, University of London