02266nam a22003498a 4500 CR9780511792458 UkCbUP 20180107143412.0 m|||||o||d|||||||| cr|||||||||||| 100622s2011||||enk s ||1 0|eng|d 9780511792458 (ebook) 9781107004849 (hardback) 9780521181679 (paperback) UkCbUP UkCbUP rda K4444 .B78 2012 343/.03 23 Brummer, Chris, author. Soft Law and the Global Financial System : Rule Making in the 21st Century / [electronic resource] Chris Brummer. Soft Law & the Global Financial System Cambridge : Cambridge University Press, 2011. 1 online resource (308 pages) : digital, PDF file(s). text txt rdacontent computer c rdamedia online resource cr rdacarrier Title from publisher's bibliographic system (viewed on 09 Oct 2015). The global financial crisis of 2008 has given way to a proliferation of international agreements aimed at strengthening the prudential oversight and supervision of financial market participants. Yet how these rules operate is not well understood. Because international financial rules are expressed through informal, non-binding accords, scholars tend to view them as either weak treaty substitutes or by-products of national power. Rarely, if ever, are they cast as independent variables that can inform the behavior of regulators and market participants alike. This book explains how international financial law 'works' - and presents an alternative theory for understanding its purpose, operation and limitations. Drawing on a close institutional analysis of the post-crisis financial architecture, it argues that international financial law is often bolstered by a range of reputational, market and institutional mechanisms that make it more coercive than classical theories of international law predict. Global Financial Crisis, 2008-2009 Soft law Print version: 9781107004849 http://dx.doi.org/10.1017/CBO9780511792458 Cambridge Books Online 236503 236503