The Rule of Law in Monetary Affairs

Addresses central monetary law and policy debates, especially the links between international investment law and trade regulation within the WTO.

Tracking current debates around monetary policy and its impact on the global economy, The Rule of Law in Monetary Affairs examines the potential of law to contribute to international monetary stability and identifies links with the international investment and trading systems.The global financial crisis and subsequent sovereign debt crisis in Europe demonstrated that the relationship between law and economics in the design of the monetary system must be revisited. International monetary affairs are usually conducted via domestic monetary policies which are formulated by independent central banks and informed mainly by economics, without much room being left to substantive law. Based on the 2012 World Trade Forum, this volume brings together leading scholars, practitioners and policy makers in international economic law in order to examine the potential of law and legal methodology to contribute to international monetary stability. It explores the links between and lessons to be learnt from existing international investment and trading systems and studies some specific policy issues which have a direct impact on monetary affairs, such as exchange rate policy, sovereign debt, taxation, competitiveness, trade imbalances, austerity programmes and human rights.