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The Role of Law in International PoliticsEssays in International Relations and International Law$
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Michael Byers

Print publication date: 2001

Print ISBN-13: 9780199244027

Published to Oxford Scholarship Online: January 2010

DOI: 10.1093/acprof:oso/9780199244027.001.0001

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Regulating the International Economy: What Role for the State?

Regulating the International Economy: What Role for the State?

Chapter:
(p.227) 11 Regulating the International Economy: What Role for the State?
Source:
The Role of Law in International Politics
Author(s):

Edward Kwakwa

Publisher:
Oxford University Press
DOI:10.1093/acprof:oso/9780199244027.003.0012

This chapter discusses the role of the State in regulating the international economy. It focuses on the particular concerns and issues affecting ‘less developed’ or ‘developing’ countries (LDCs). It describes some of the reasons why the international economy is regulated. It explains how the international economy is regulated, or who sets the rules by which the international economy is regulated. It provides examples of the role of politics in international law, as well as of the role of law in international politics. It argues that, rather than resulting in the end of the State, globalization and efforts to regulate the international economy will in fact enhance some of the important functions of the State. It concludes that the far-reaching repercussions of the Asian financial crisis amply demonstrate why the role of the State in the international economy is so important.

Keywords:   international economy, less developed countries, developing countries, politics, international law, globalization, Asian financial crisis

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