Reconceptualising Global Finance and Its Regulation

Banking & Finance Law Review; 32(3), 2017

24 Pages Posted: 4 Nov 2016 Last revised: 17 Oct 2017

See all articles by Hossein Nabilou

Hossein Nabilou

Universite du Luxembourg - Faculty of Law, Economics and Finance; University College London Center for Blockchain Technologies

Date Written: October 13, 2017

Abstract

From the dawn of civilization, the ever-growing sophistication of human society, division of labour, specialization, and comparative advantage rendered trade an indispensable part of any human enterprise. The need for trade begets the need for finance, and as trade becomes globally indispensable, so does finance. Indeed, trade and finance midwifed the birth of globalization, foster- mothered its infancy, and nurtured it into its prime age. Although globalization has seen ebbs and flows and has faced numerous disruptions by its enemies, in the wake of the global financial crisis (GFC), it was not the globalization’s discontents but the masters of trade and finance who were about to push globalization off the precipice. To understand why globalization suffered a blow by its friends rather than its foes, the book successfully attempts to promote a better understanding of the workings of global finance, to unearth covert fault lines in its crust, to highlight serious flaws in its governance and regulation, and to propose remedies for the deficiencies in the governance and regulation of the global financial system. This is made possible by highlighting the gap between virtually seamlessly-globalized finance and its fragmented, unsystematic, inconsistent, and incomplete regulation and governance.

Keywords: global finance, international financial regulation, global governance of financial institutions, financial regulation, international finance

JEL Classification: F3, G1, G2, G3, K2, N2

Suggested Citation

Nabilou, Hossein, Reconceptualising Global Finance and Its Regulation (October 13, 2017). Banking & Finance Law Review; 32(3), 2017, Available at SSRN: https://ssrn.com/abstract=2864188

Hossein Nabilou (Contact Author)

Universite du Luxembourg - Faculty of Law, Economics and Finance ( email )

4 Rue Alphonse Weicker
Office: B203
Luxembourg, L-2721
Luxembourg
+352 46 66 44 5450 (Phone)
+352 46 66 44 35450 (Fax)

University College London Center for Blockchain Technologies ( email )

UCL CBT UCL Computer Science
Malet Place London WC
London, London
United Kingdom

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