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Prospects for international financial deglobalisation and its potential impact on international financial regulation

Chiu, Iris Hse-Yu; (2022) Prospects for international financial deglobalisation and its potential impact on international financial regulation. Law and Financial Markets Review , 16 (1-2) pp. 1-19. 10.1080/17521440.2023.2204991. Green open access

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Abstract

The prospects of deglobalisation have been discussed in relation to international trade and finance, and this article queries how recent geopolitical risks may affect the shape of international financial regulation. The article critically presents an examination of international financial globalisation that has already been chequered for a long time, and argues that there is a strong likelihood of no or incremental change to international financial regulation due to the chequered nature of financial globalisation it already supports. However, international financial regulatory bodies can be affected if individual jurisdictions that are members of international organisations make more pronounced political responses. Although the network of experts underlying international financial regulation have technocratised issues to a significant extent, the politicisation of issues has always persisted. The article therefore addresses the potential for scenarios of more dramatic and turbulent change in international financial regulation and sketches the broad contours of such possibilities.

Type: Article
Title: Prospects for international financial deglobalisation and its potential impact on international financial regulation
Open access status: An open access version is available from UCL Discovery
DOI: 10.1080/17521440.2023.2204991
Publisher version: https://doi.org/10.1080/17521440.2023.2204991
Language: English
Additional information: Copyright © 2023 The Author(s). Published by Informa UK Limited, trading as Taylor & Francis Group. This is an Open Access article distributed under the terms of the Creative Commons Attribution-NonCommercial-NoDerivatives License (http://creativecommons.org/licenses/by-nc-nd/4.0/), which permits non-commercial re-use, distribution, and reproduction in any medium, provided the original work is properly cited, and is not altered, transformed, or built upon in any way.
Keywords: International financial regulation, financial stability board, deglobalisation, financial globalisation, prudential regulation
UCL classification: UCL
UCL > Provost and Vice Provost Offices > UCL SLASH
UCL > Provost and Vice Provost Offices > UCL SLASH > Faculty of Laws
URI: https://discovery.ucl.ac.uk/id/eprint/10167500
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