Emergency Action by the WTO Director-General: Global Administrative Law and the WTO's Initial Response to the 2008–09 Financial Crisis

2009 ◽  
Vol 6 (2) ◽  
pp. 499-512 ◽  
Author(s):  
Ayelet Berman ◽  
Joost Pauwelyn
Keyword(s):  
Financial Crisis ◽  
Initial Response ◽  
Administrative Law ◽  
Director General ◽  
Initial Reaction ◽  
Trade Finance ◽  
Hard Law ◽  
Private Banks ◽  
Administrative Actions

AbstractThe WTO's initial reaction to the 2008–2009 financial crisis was taken mainly by its managerial arm, that is, by the Director-General (DG) and the Secretariat and not by its legislative or judicial bodies. This is a novelty for the WTO and illustrates the emergence, even at the otherwise hard-law WTO, of informal administrative actions that go beyond the traditional member-dominated WTO. The actions were in two areas: The DG convened trade finance expert meetings with other organizations and private banks, and the Secretariat prepared reports on trade-related measures enacted across the globe in response to the crisis. The article examines these actions in light of certain concepts and principles of the GAL project. Overall, the Director-General was sensitive in his actions to GAL principles.

Part II The Financial Crisis of 2007–2011, 9 The Initial Response to the Financial Crisis by the EU and Elsewhere

2018 ◽  
Author(s):  
Mccormick Roger ◽  
Stears Chris
Keyword(s):  
Financial Crisis ◽  
European Commission ◽  
Financial Stability ◽  
Financial Regulation ◽  
Initial Response ◽  
Banking Supervision ◽  
Basel Committee ◽  
Regulation And Supervision ◽  
European Financial Regulation ◽  
The Eu

This chapter discusses the various laws, regulations, and comparable measures that were passed or proposed in response to the financial crisis in the EU and elsewhere. It covers the responses of the de Larosière Report, G20, the Basel Committee on Banking Supervision, and the Financial Stability Board. The de Larosière Report, for instance, was commissioned by the President of the European Commission in October 2008 and delivered on 25 February 2009. The report sought ‘to give advice on the future of European financial regulation and supervision’ and has formed the basis of many of the responses to the financial crisis at EU level. The G20 issued a comprehensive communiqué on the crisis at the London ‘Summit’ of 2 April 2009, covering a number of macro-economic and other ‘architectural’ issues.

A Digest of Selected Judgments of the Supreme Court of Israel

1992 ◽  
Vol 26 (1) ◽  
pp. 65-107
Author(s):  
Ivan Rothman
Keyword(s):  
Supreme Court ◽  
Administrative Law ◽  
Director General ◽  
Control Law ◽  
Private Hospitals ◽  
Foreign Investors ◽  
The Supreme Court ◽  
Policy Exercise ◽  
Exercise Of Discretion ◽  
A Company

The following is a survey of major judgments of the Supreme Court of Israel published in (1990) 44 Piskei Din, volumes (i) and (ii), directly following upon our last digest which appeared in (1991) 25 Is. L. R. 219.I. Constitutional and Administrative LawMedianwest Herzliya Medical Centre Ltd. v. Director General of the Ministry of Health & the Minister of Health (1990) 44(i) P.D. 19Commodities and Services (Control) Law, 1957 —parallel legislation — effects of policy — exercise of discretionThe petitioner, a company registered in Israel, was established by a group of private, foreign investors for the purpose of developing and operating a number of private medical centres, and providing medical services. The petition centred on the respondents' refusal to allow the petitioner to open a hospital in Haifa. According to the respondents, their refusal reflected a general policy to oppose the establishment of additional public or private hospitals.

scholarly journals The Impact of the Global Financial Crisis on China's Banking Sector

2017 ◽  
Vol 35 (1) ◽  
pp. 5-30
Author(s):  
Michiel Haasbroek ◽  
Jörn-Carsten Gottwald
Keyword(s):  
Financial Crisis ◽  
Banking Sector ◽  
Global Financial Crisis ◽  
Financial Sector ◽  
Chinese Economy ◽  
Initial Reaction ◽  
Top Down ◽  
Bottom Up ◽  
The Global Financial Crisis ◽  
The Impact

The banking sector had long been left at the fringes of China's reform policies. Major initiatives of the 1990 and early 2000s helped to balance the need for modernization and internationalization with the objective of preserving political control. When the Global Financial Crisis (GFC) erupted in 2007, it hit the Chinese economy but predominantly in its export sector and much less in its financial sector. Yet when exports collapsed and factories closed in the winter of 2008/2009, the Chinese leadership implemented an ambitious stimulus program and used its leverage over the financial sector to re-start economic growth. These factors – GFC and domestic stimulus – created a series of intended and unintended outcomes. Financial reform in China entered a new stage signalling a profound change in China's banking sector. These changes follow two sometimes contradictive, sometimes mutually reinforcing reform dynamics of top-down policies and bottom-up innovation. In this article we follow an institutional approach and discuss the intensified participation of China's big banks in the Go Out strategy, followed by a shift in the pattern of lending. One factor in this change is the rise of shadow banking and particularly an explosive growth in internet-based financial services. Thus, while the initial reaction to the GFC re-emphasized direct, top-down state involvement in the banking sector, the outcomes of the GFC, China's policies and business innovations have facilitated profound bottom-up changes.

The Historical Foundations of Judicial Review in the United Kingdom

2021 ◽  
pp. 193-230
Author(s):  
Conor McCormick
Keyword(s):  
United Kingdom ◽  
Judicial Review ◽  
Historical Analysis ◽  
Administrative Law ◽  
First Century ◽  
Fin De Siecle ◽  
The United Kingdom ◽  
Twenty First Century ◽  
Administrative Actions

This chapter analyses judicially developed standards for reviewing administrative actions in the United Kingdom between 1890 and 1910. By exploring the context, reach, types, and frequency of judicial review during that timeframe—fin de siècle—this historical analysis reveals both significant changes and significant continuities by comparison with twenty-first century standards. The chapter concentrates in particular on reported cases which undermine the Diceyan claim that administrative law did not exist in the United Kingdom during this timeframe; and reflects on the inconsistencies that pervaded that body of law. It concludes that some judges tended to deploy concepts which had the effect of restraining administrative actions, whereas other judicial constructs tended to facilitate the administrative arrangements contested in court. As such, it recommends that the role of judicial review at this time should be characterized with this duality of purpose firmly in mind.

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