Book review - Global Finance in the 21st Century: Stability and Sustainability in a Fragmenting World, Routledge, 2022

Abstract

This is a review of the book authored by Steve Kourabas - Global Finance in the 21st Century: Stability and Sustainability in a Fragmenting World, Routledge, 2022. The book examines a fundamental tension that has arisen with the rapid growth of international finance. On the one hand, this growth has facilitated economic development with many associated benefits. On the other hand, when not accompanied by appropriate transparency and regulation, the growth of international finance has led to financial crises that undercut economic development. How we can best promote the advantages of international finance and at the same time minimise the disadvantages is the goal of the book's author. A particular challenge in this respect is that finance has become both international and complex, yet much regulation of finance operates within the boundaries of countries. The book proposes a solution – drawing on international law to improve the global governance of international finance.