University of New South Wales Faculty of Law Research Series
The Institutional Weaknesses in the International Financial System
Article comments
This paper can also be referenced as [2007] UNSWLRS 14.
Abstract
Since 1997 a massive amount of effort has gone into improving the international financial architecture. However, at a level more fundamental than that at which the reformers have worked, the architecture is deeply flawed. The international system has no sovereign bankruptcy regime, no financial regulator, and no lender of last resort. Yet these institutions are widely considered essential for the stability of all national financial systems. This article analyses the effect of these fundamental systemic flaws, and what, if anything, can be done about them.
Subject Area
Banking and Finance, Bankruptcy Law
Recommended Citation
Ross P. Buckley,
"The Institutional Weaknesses in the International Financial System"
(March 2007).
University of New South Wales Faculty of Law Research Series.
University of New South Wales Faculty of Law Research Series.
Working Paper 14.
http://law.bepress.com/unswwps/flrps/art14
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