Abstract

MIKHAIL ALEXEEVITCH, Shapovalov. History, current state and prospects of development of international financial law. Rev. Derecho [online]. 2015, n.43, pp.350-371. ISSN 0121-8697.  https://doi.org/10.14482/dere.43.6298.

The article examines different concepts of international financial law, it role in maintaining order in the world financial system. The author examines the connection between international financial law and other regulators in the international financial system: private international law, national law. The international financial system as a complex phenomenon comprises various groups of interconnected social relations related to cross-border capital flow. The international inancial relations involve direct interrelations between public legal bodies, while the private bodies are involved only in terms of national jurisdictions where domestic law or international private law (if the foreign element appears in these relations) are enforced. The influence of international inancial law on private bodies is indirect and is enforced only through the influence on domestic law of States. Today, the concept of public inance is added up with the criterion of the public interest that dictates the necessity of State legal public regulation in such spheres as banking, securities market and insurance. The key qualification criterion of international inancial relations is the maintenance of public economic order aiming at secure functioning of national inancial systems and international inancial system as a whole through international cooperation.

Keywords : international financial law; finance; financial system; international law; international finance.

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