The global financial crisis has profoundly affected the lives and lifestyles of a great
number of people. This has led individuals in all sections of society—including
academia, government, and business—to inquire into the causes and progression of
the crisis. It has also prompted reflection on potential reforms that could prevent
such a catastrophe from happening in the future.
Motivated by these concerns and mindful of the complexity (as well as the
perplexity) of the activities in international financial markets, a number of the
Journal of International Economic Law’s editors discussed whether the Journal could
make a pertinent contribution to the relevant policy debates.
As the Editor-in-Chief of the Journal, I was thrilled when Professors Thomas
Cottier and Rosa Lastra agreed to my request to take on the formidable task of
Special Editors for this project. Thomas and Rosa accepted the principal responsibility
for constructing an appropriate outline of topics as well as selecting and
inviting authors to participate. With a few necessary exceptions, the authors
discussed these drafts at a fascinating conference held at Georgetown University’s
Center for Transnational Legal Studies in London on 21 May 2010. A Special Issue
of the Journal, published in September 2010, entirely devoted to the issues
implicated in the crisis, was the result of these discussions.
Following the publication of the Special Issue it was agreed with Oxford
University Press that it would be beneficial to release an updated volume that
took into account some of the recent legal developments in international financial
regulation and monetary policy. This book is the result with each chapter newly
updated, where appropriate, to take into account relevant developments while
ensuring that the fundamental concepts raised by each contributor remain intact.
In addition the amended introduction and additional conclusion highlight some of
the major events that have occurred in the field since the Special Issue was first
published.