- When International Law Works
- Oxford University Press
This chapter examines whether the justificatory theory of international law provides guidance to regulators. It considers how the focus on shared expectations rather than formal laws enables the theory to accommodate important methods of stabilizing international activities in the absence of international laws. In particular, it examines the global recession of 2008, and contrasts the regulatory failures in 2008 with the ongoing efforts of the Financial Stability Board convened by the G-20's central bank governors.
international stabilization, 2008 recession, G-20, Financial Stability Board, formal laws, justificatory theory
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