International Monetary and Financial Law

Author: Wang Guiguo
Publisher:
Publish Date: 2002-01-01
Features: The modern international monetary and financial system is built on the International Monetary Fund (IMF) and the World Bank established after World War II. A coherent and binding legal system for national governments, financial institutions, and parties to transactions is formed by treaties and agreements on the establishment of international monetary and financial organizations, the rules and resolutions of the IMF, the World Bank, regional development banks, the Bank for International Settlements, and other regional financial organizations, as well as the foreign-related aspects of national monetary and financial laws, and customary practices and conventions formed in practice concerning money, securities, and financial transactions. The characteristics of the international monetary and financial legal system are as follows: Some agreements reached between sovereign states directly affect transactions between companies or individuals; the domestic laws of major developed countries play a significant role in international financial transactions; and the legal system governing international financial transactions is multidimensional. Additionally, the development of science and technology, the increasing complexity of financial transaction forms, and the continuous introduction of new financial instruments have often made the existing legal system lag behind actual needs. The aforementioned characteristics of the international monetary and financial legal system also pose a challenge to legal professionals on how to study the monetary and financial legal system in line with societal needs. For a long time, scholars have mostly adopted a fragmented approach, studying international money, banking, finance, and other issues separately. Monographs on monetary law often do not address banking or financial market issues. Some existing literature on international banking law even avoids discussing domestic banking law. This research method inevitably leaves readers with a sense of incomplete understanding. Considering that the international financial market has gradually formed an integrated system, the interactive influence of international monetary and financial laws and policies on economic transactions has become increasingly apparent. This book adopts a multidimensional perspective to comprehensively study international monetary and financial laws and policies. The purpose is to enable readers to gain a comprehensive understanding of the international monetary and financial legal system and its operation.