International Investment Law and Financial Regulation: Towards a Deliberative Approach

20 Pages Posted: 11 Feb 2015 Last revised: 7 Jan 2017

See all articles by Matthias Goldmann

Matthias Goldmann

Max Planck Institute for Comparative Public Law and International Law; Goethe University Frankfurt - Research Center SAFE; Goethe University Frankfurt - Cluster of Excellence Normative Orders; Goethe University Frankfurt

Date Written: January 10, 2016

Abstract

The paper analyzes conflicts between investment law and other fields of financial regulation, namely sovereign debt, bank regulation, and monetary law. While international (and domestic) economic law had long been based on the theory of functional separation according to which each segment of economic law and policy should pursue its objectives irrespective of the others, the financial crisis has cast serious doubts on this approach as it revealed their interdependence. Applying a deliberative approach to interpretation, the existing legal framework is capable of taking such interdependence into account. The paper uses holdout litigation in case of sovereign debt restructurings, bail-ins in case of bank insolvencies, and unconventional monetary policies as examples to demonstrate the deliberative approach.

Keywords: international investment law, financial regulation, deliberation, monetary policy, sovereign debt

Suggested Citation

Goldmann, Matthias, International Investment Law and Financial Regulation: Towards a Deliberative Approach (January 10, 2016). Available at SSRN: https://ssrn.com/abstract=2563258 or http://dx.doi.org/10.2139/ssrn.2563258

Matthias Goldmann (Contact Author)

Max Planck Institute for Comparative Public Law and International Law ( email )

Im Neuenheimer Feld 535
69120 Heidelberg, 69120
Germany

HOME PAGE: http://www.mpil.de/ww/en/pub/organization/scientific_staff/mgoldman.cfm

Goethe University Frankfurt - Research Center SAFE

House of Finance
Theodor-W.-Adorno-Platz 3
Frankfurt am Main, 60323
Germany

HOME PAGE: http://www.safe-frankfurt.de

Goethe University Frankfurt - Cluster of Excellence Normative Orders ( email )

Germany

Goethe University Frankfurt ( email )

Theodor-W.-Adorno-Platz 3
HoF H4
Frankfurt, 60629
Germany

HOME PAGE: http://https://www.jura.uni-frankfurt.de/62222403/Goldmann

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