Global Finance in the 21st Century: Stability and Sustainability in a Fragmenting World

Global Finance in the 21st Century explores finance and its regulation after the global financial crisis, arguing that fragmentation and the trend of promoting informality and voluntarism have facilitated a return to nationalism as a primary form of global governance. Kourabas suggests that we need more, not less, of what we have traditionally conceived as international law to promote systemic financial stability and sustainable development objectives.

Format: Paperback / softback
Length: 236 pages
Publication date: 29 January 2024
Publisher: Taylor & Francis Ltd

In the 21st century, global finance faces a complex and evolving landscape, marked by both stability and sustainability challenges. Global Finance in the 21st Century: Stability and Sustainability in a Fragmenting World delves into the realm of finance and its regulation in the aftermath of the global financial crisis. This comprehensive book aims to bridge the gap between finance and non-finance scholars, fostering a broader discussion on critical societal issues that intersect with finance. It also examines the inefficacy of the current approach to global prudential governance and contextualizes this discussion within the broader framework of global governance and nationalism in the 21st century.

The book argues that the fragmentation and growing trend towards informality and voluntarism have facilitated a resurgence of nationalism as a primary form of global governance, which runs counter to the post-crisis reforms aimed at promoting stability and sustainability in finance. As a solution, Kourabas suggests that we need more, rather than less, of what we traditionally conceive as international law—treaties and treaty-based international organizations. In the field of finance, this entails not only pursuing financial liberalization through free trade and investment treaties but also incorporating provisions that promote systemic financial stability and sustainable development objectives.

This book appeals to a wide audience, including legal and non-legal academics, students, legal professionals, and policy-makers. It offers a nuanced defense of international law as an approach to global governance in finance and beyond, while also advocating for reform of international law to meet the needs of the 21st-century society. By exploring the complex interplay between finance, governance, and nationalism, Global Finance in the 21st Century provides valuable insights into the challenges and opportunities facing the global financial system.

Weight: 453g
Dimension: 234 x 156 (mm)
ISBN-13: 9781032080710