This chapter argues that poverty is created, maintained, and regulated. Global poverty occupies a unique position as both the ‘blind spot’ and raison d’être of an international legal system that has long attempted to secure a veneer of cooperation, justice, and legitimacy over a reality of competition, conquest, and exploitation. As such, it vividly illustrates the radical indeterminacy and ‘schizophrenia ‘ that ‘ tear[s] apart the fragile structure’ of international law. That this contradiction appears to be little analysed, that there is so little conversation to detail, is testament to the strategies deployed to naturalize, excuse, and obscure the ‘fact’ of poverty.
This chapter deals with issues of regional economic integration in a comparative perspective. It is divided into two parts: a conceptual and a theoretical part. The conceptual part starts with a definition and typology of economic integration. It then presents features of institutional design that capture the institutional variation and development of regional economic integration. This conceptual apparatus has been used recently to map regional economic organizations and describe their variation and development. The theoretical part begins with economic theories of integration, which have, however, little to say about the political process of integration and the role and effects of institutions and organizations. It then moves on to political theories of economic integration, which have mainly been developed in the context of European integration: intergovernmentalism, supranationalism, and constructivism.
Chris Brummer and Matt Smallcomb
This Chapter explores dispute resolution in international trade and finance, with emphasis on the varying ideological and historical foundations of the two fields. It describes how dispute resolution mechanism has flourished more easily in trade than in finance. It also considers the World Trade Organization’s dispute settlement mechanism and provides an overview of the domestic origins of financial regulation. In addition, the Chapter discusses how the cross-border banking crisis in the 1970s, the Asian financial crisis of 1997, and the financial crisis of 2008 have intensified the demand for dispute resolution in finance. The factors mitigating against the formalized dispute resolution in the international regulation of financial institutions are examined, as well. Finally, the Chapter assesses the pros and cons of trust-building as a means to make way for a legalized dispute resolution regime for international finance similar to the one that governs international trade.
The international financial architecture (IFA) can be viewed as a landscape crowded with different international bodies that share responsibilities for the prevention of global financial instability. These bodies include international organizations (IOs), such as the international financial institutions (IFIs) (e.g. the International Monetary Fund [IMF] and the World Bank), intergovernmental fora (e.g. the G7, G10, and G20), and transnational networks of regulators and supervisors (such as the Bank for International Settlements [BIS] and the Basel Committee on Banking Supervision [BCBS]). This chapter examines the dispersion of governance functions in the IFA. It focuses on the relationship between two key bodies — the Financial Stability Board (FSB) and the IMF — and applies the insights of the IO literature to illuminate the sources of organizational conflict between the two bodies. It argues that the problems in the FSB-IMF working relationship can be attributed to the different terms of their delegations, memberships, and organizational cultures. These factors, in turn, can be explained by the insights of the rationalist, realist, and constructivist frameworks.
Laurence Boisson De Chazournes
Technical and financial assistance plays an important role in the furtherance of environmental protection. Since the end of the 1980s, important changes have modified its contours, aims, and legal structure. The emergence of new principles, such as the principle of sustainable development and the principle of common but differentiated responsibilities, have introduced new facets to this notion, and the implementation of these principles has resulted in a complex mosaic of financial mechanisms and funding sources, which are linked to global conventions, multilateral institutions, bilateral aid, and private sector investment. This article first provides a picture of the different types and sources of technical and financial assistance, such as official development assistance, international institutions, and public/private partnerships. It also addresses the relationship between technology transfer and intellectual property rights, especially in light of agreements such as the Convention on Biological Diversity. The article then examines the aim and nature of financial and technical assistance, the legal structure of financial mechanisms (including its relationship with the principle of common but differentiated responsibilities), and the provision of global public goods.
This chapter re-examines the history of free trade and its relationship to international law. It locates contemporary trade agreements within a larger story about the relation between the state, the market, and the social; explores why it is useful to place current trade agreements within a longer historical trajectory; offers a brief narrative of how the concept of free trade has moved across a two-hundred-year period since the late eighteenth century; and concludes that concepts such as free trade (and related concepts such as discrimination, market distortion, protection, and subsidies) are the product of political struggles over particular ways of understanding the world, justifying entitlements to resources, explaining why some people should profit from the labour of others, and legitimizing the exercise of power.
This chapter redescribes the rather oblique theorizations of the corporation in public international law, by first outlining some generic characterizations of the corporation in international legal writing, before turning to two areas of international legal doctrine, practice, and scholarly work: international investment law and international human rights. In both of these areas, the corporation has often been identified with potential dysfunction within, or subtraction from, the international legal order. International legal engagement of the corporation has, accordingly, been identified with the discipline’s corrective realignment, rejuvenation or augmentation. So figured, the corporation has been central to the maintenance of prospects of, and aspirations for, ‘governance fusion’ on the global plane. Precisely because of the paragnostic way it has been known to international law, the corporation has been a pivotal figure in international legal knowledge practice.