Constitutions in the Global Financial Crisis

Author: Xenophon Contiades
Publisher: Routledge
ISBN: 1317161629
Format: PDF, Kindle
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This book is the first to address the multi-faceted influence of the global financial crisis on the national constitutions of the countries most affected. By tracing the impact of the crisis on formal and informal constitutional change, sovereignty issues, fundamental rights protection, regulatory reforms, jurisprudence, the augmentation of executive power, and changes in the party system it addresses all areas of the current constitutional law dialogue and aims to become a reference book with regard to the interaction between financial crises and constitutions. The book includes contributions from prominent experts on Greece, Hungary, Iceland, Ireland, Italy, Latvia, Portugal, Spain, the UK, and the USA providing a critical analysis of the effects of the financial crisis on the constitution. The volume’s extensive comparative chapter pins down distinct constitutional reactions towards the financial crisis, building an explanatory theory that accounts for the different ways constitutions responded to the crisis. How and why constitutions formed their reactions in the face of the financial crisis unravels throughout the book.

Law and the Management of Disasters

Author: Alexia Herwig
Publisher: Routledge
ISBN: 1317273680
Format: PDF, Kindle
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Disasters raise serious challenges for contemporary legal orders: they demand significant management, but usually amidst massive disruption to the normal functioning of state authority and society. When dealing with disasters, law has traditionally focused on contingency planning and recovery. More recently, however, ‘resilience’ has emerged as a key concept in effective disaster management policies and strategies, aiming at minimising the impact of events, so that the normal functioning of society and the state can be preserved. This book analyses the contribution of law to resilience building by looking at law’s role in the different phases of the disaster regulatory process: risk assessment, risk management, emergency intervention, and recovery. More specifically, it addresses how law can effectively contribute to resilience-oriented distaster management policies, and what legal instruments can support effective resilience-building.

Iceland s Financial Crisis

Author: Valur Ingimundarson
Publisher: Routledge
ISBN: 1317209737
Format: PDF, Docs
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Being the first casualty of the international financial crisis, Iceland was, in many ways, turned into a laboratory when it came to responding to one of the largest corporate failures on record. This edited volume offers the most wide-ranging treatment of the Icelandic financial crisis and its political, economic, social, and constitutional consequences. Interdisciplinary, with contributions from historians, economists, sociologists, legal scholars, political scientists and philosophers, it also compares and contrasts the Icelandic experience with other national and global crises. It examines the economic magnitude of the crisis, the social and political responses, and the unique transitional justice mechanisms used to deal with it. It looks at backward-looking elements, including a societal and legal reckoning – which included the indictment of a Prime Minister and jailing of leading bankers for their part in the financial crisis – and forward-looking features, such as an attempt to rewrite the Icelandic constitution. Throughout, it underscores the contemporary relevance of the Icelandic case. While the Icelandic economic recovery has been much quicker than expected; it shows that public faith in political elites has not been restored. This text will be of key interest to scholars, policy-makers and students of the financial crisis in such fields as European politics, international political economy, comparative politics, sociology, economics, contemporary history, and more broadly the social sciences and humanities.

Legal Challenges in the Global Financial Crisis

Author: Wolf-Georg Ringe
Publisher: Bloomsbury Publishing
ISBN: 1782252568
Format: PDF
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The global financial and economic crisis which started in 2008 has had devastating effects around the globe. It has caused a rethinking in different areas of law, and posed new challenges to regulators and private actors alike. One of the emerging issues is the apparent eclipse of boundaries between different legal disciplines: financial and corporate lawyers have to learn how public law instruments can complement their traditional governance tools; conversely, public lawyers have had to come to understand the specificities of the financial markets they intend to regulate.While commentary on financial regulation and the global financial crisis abounds, it tends to remain within disciplinary boundaries. This volume not only brings together scholarship from different areas of law (constitutional and administrative law, EU law, financial law and regulation), but also from a variety of backgrounds (academia, practice, policy-making) and a number of different jurisdictions.The volume illustrates how interdisciplinary scholarship belongs at the centre of any discussion of the economic crisis, and indeed regulation theory more generally. This is a timely exploration of cutting-edge issues of financial regulation.

New Challenges to Constitutional Adjudication in Europe

Author: Zoltán Szente
Publisher: Routledge
ISBN: 1351674749
Format: PDF, Kindle
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In the past few years, constitutional courts have been presented with new challenges. The world financial crisis, the new wave of terrorism, mass migration and other country-specific problems have had wide-ranging effects on the old and embedded constitutional standards and judicial constructions. This book examines how, if at all, these unprecedented social, economic and political problems have affected constitutional review in Europe. As the courts’ response must conform with EU law and in some cases international law, analysis extends to the related jurisprudence of the European Court of Justice and the European Court of Human Rights. The collection adopts a common analytical structure to examine how the relevant challenges have been addressed in ten country specific case studies. Alongside these, constitutional experts frame the research within the theoretical understanding of the constitutional difficulties of the day in Europe. Finally, a comparative chapter examines the effects of multilevel constitutionalism and identifies general European trends. This book will be essential reading for academics and researchers working in the areas of constitutional law, comparative law and jurisprudence.

The Endurance of National Constitutions

Author: Zachary Elkins
Publisher: Cambridge University Press
ISBN: 1139479741
Format: PDF, ePub, Docs
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Constitutions are supposed to provide an enduring structure for politics. Yet only half live more than nine years. Why is it that some constitutions endure while others do not? In The Endurance of National Constitutions Zachary Elkins, Tom Ginsburg and James Melton examine the causes of constitutional endurance from an institutional perspective. Supported by an original set of cross-national historical data, theirs is the first comprehensive study of constitutional mortality. They show that whereas constitutions are imperilled by social and political crises, certain aspects of a constitution's design can lower the risk of death substantially. Thus, to the extent that endurance is desirable - a question that the authors also subject to scrutiny - the decisions of founders take on added importance.

The Economic Constitution

Author: Tony Prosser
Publisher: Oxford University Press (UK)
ISBN: 0199644535
Format: PDF, Mobi
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This title examines the constitutional framework for management of the economy in the UK, including the effects of the 2008 financial crisis. It assesses the extent to which legal principles limit the policy choices available to government and the extent to which they permit a coherent approach to economic management across government.

The Financial Crisis in Constitutional Perspective

Author: Poul F Kjaer
Publisher: Bloomsbury Publishing
ISBN: 1847318223
Format: PDF, Mobi
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This volume presents the first thorough sociologically-informed legal analysis of the financial crisis which unfolded in 2008. It combines a multitude of theoretically informed analyses of the causes, dynamics and reactions to the crisis and contextualises these within the general structural transformations characterising contemporary society. It furthermore explores the constitutional implications of the crisis and suggests concrete changes to the constitutional set-up of contemporary society. Although the question of individual responsibility is of crucial importance, the central idea animating the volume is that the crisis cannot be reduced to a mere failure of risk perception and management for which individual and collective actors within and outside of financial organisations are responsible. The 2008 crisis should rather be understood as a symptom of far deeper structural transformations. For example contemporary society is characterised by massive accelerations in the speed with which societal processes are reproduced as well as radical expansions in the level of globalisation. These transformations have, however, been asymmetrical in nature insofar as the economic system has outpaced its legal and political counterparts. The future capability of legal and political systems to influence economic reproduction processes is therefore conditioned by equally radical transformations of their respective operational forms and self-understanding. Potentially the 2008 crisis, therefore, has far-reaching constitutional implications.

Effectiveness of Central Banks and Their Role in the Global Financial Crisis

Author: Shamshad Akhtar
Publisher: Asian Development Bank
ISBN: 9292547577
Format: PDF, ePub, Mobi
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This study examines the role and performance of central banks in low-income countries that have faced a range of domestic and external fragilities, aggravated by the global financial crisis that started in the United States and other advanced economies. It focuses on a select group of developing member countries of the Asian Development Bank in the Caucasus, Central Asia, and South Asia that have been and will continue to be vulnerable to adverse external developments.

Financial Crisis Corporate Governance and Bank Capital

Author: Sanjai Bhagat
Publisher: Cambridge University Press
ISBN: 1107170648
Format: PDF, Docs
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In the aftermath of the 2007-8 crisis, senior policymakers and the media have blamed excessive risk-taking undertaken by bank executives, in response to their compensation incentives, for the crisis. The inevitable follow-up to this was to introduce stronger financial regulation, in the hope that better and more ethical behaviour can be induced. Despite the honourable intentions of regulation, such as the Dodd-Frank Act of 2010, it is clear that many big banks are still deemed too big to fail. This book argues that by restructuring executive incentive programmes to include only restricted stock and restricted stock options with very long vesting periods, and financing banks with considerably more equity, the potential of future financial crises can be minimized. It will be of great value to corporate executives, corporate board members, institutional investors and economic policymakers, as well as graduate and undergraduate students studying finance, economics and law.