During and after the 2007-2009 global financial crisis, emerging market economies displayed remarkable resilience and maintained robust rates of economic growth. Learning from the lessons of the crises of the past 15 years, developing countries have adopted measures to become less vulnerable to the external shocks that are likely to emerge from more developed countries. Academics and policymakers have focused on the construction of an appropriate regulatory and supervisory framework for the banking sector. During the 2007-2009 global crisis, banks were engaging in excessive risk taking. Prudential banking regulation and supervision aim to curb excessive risk taking by banks because engaging in excessive risky transactions is the ultimate source of instability. Hence, banking regulation is needed to deal with the failure of markets to police banks' risky behaviours.This book discusses the impact of regulations and supervision on banks' performance, focusing on two emerging market economies, Turkey and Russia. It examines the way in which regulations matter for financial stability and banking performance from a law and economics perspective. Some of the regulations contribute to banks' performance by reducing the incentive for banks to take risks, hence supporting financial stability; others however may have a detrimental effect on financial stability. Moreover, banks react differently to regulation under different institutional settings. Therefore, this book takes up the debate on the efficiency of certain solutions and approaches to banking regulation in the context of emerging countries.

Unlike some other reproductions of classic texts (1) We have not used OCR(Optical Character Recognition), as this leads to bad quality books with introduced typos. (2) In books where there are images such as portraits, maps, sketches etc We have endeavoured to keep the quality of these images, so they represent accurately the original artefact. Although occasionally there may be certain imperfections with these old texts, we feel they deserve to be made available for future generations to enjoy.

The third edition of EU Customs Law provides a fully updated treatment of legislation, new treaties and cases in the two courts of the EU especially but also in Member States. This volume also includes commentary on the Union Customs Code and secondary legislation, and increased coverage of areas such as the wider role of customs authorities apart from the collection of customs duty, such as security of goods and post 9/11 developments generally, the history of customs unions and their implications for governments, non-EU customs unions to which EU law is relevant, and the inter-relation between customs duty and direct tax.

If a dispute between commercial parties reaches the stage of arbitration, the cause is usually ambiguous contract terms. The arbitrator often resolves the dispute by applying trade usages, either to interpret the ambiguous terms or to determine what the given contract's terms really are. This recourse to trade usages does not create many problems on the domestic level. However, international arbitrations are far more complex and confusing. Trade Usages and Implied Terms in the Age of Arbitration provides a clear explanation of how usages, and more generally the implicit or implied content of international commercial contracts, are approached by some of the most influential legal systems in the world. Building on these approaches and taking account of arbitral practice, this book explores possible conceptual frameworks to help shape the emerging transnational law of trade usage. Part I covers the treatment and conceptual grounding of usages and implied terms in the positive law of influential jurisdictions. Part II defines the approach to usages and implied terms adopted in the design and implementation of important uniform law instruments dealing with international business contracts, as well as in the practice of international commercial arbitration. Part III concludes the book with an outline of what the conceptual grounding of trade usages could be in the transnational law of commercial contracts.

These are papers from the 10th Cambridge Tax Law History Conference, which took place in July 2020. The papers fall within the following basic themes: - UK tax administration issues - UK tax reforms in the 20th century - History of tax in the UK - The UK's first double tax treaty - The 1982 Australia-US tax treaty - The legacy of colonial influence - Reform of Dutch excises, and - Canadian tax avoidance.

This book assesses the role of the doctrine of insurable interest within modern insurance law by examining its rationales and suggesting how shortcomings could be fixed. Over the centuries, English law on insurable interest - a combination of statutes and case law - has become complex and unclear. Other jurisdictions have relaxed, or even abolished, the requirement for an insurable interest. Yet, the UK insurance industry has overwhelmingly supported the retention of the doctrine of insurable interest. This book explores whether the traditional justifications for the doctrine - the policy against wagering, the prevention of moral hazard and the doctrine's relationship with the indemnity principle - still stand up to scrutiny and argues that, far from being obsolete, they have acquired new significance in the global financial markets and following the liberalisation of gambling. It is also argued that the doctrine of insurable interest is an integral part of a system of insurance contract law rules and market practice. Rather than rejecting the doctrine, the book recommends a recalibration of insurable interest to afford better pre-contractual transparency to a proposer as to the suitability of the policy to his or her interest in the subject-matter to be insured. Providing a powerful defence for the retention of insurable interest, this book will appeal to both academics and practitioners working in the field of insurance law.

"At the end of the Trail of Tears there was a promise," U.S. Supreme Court Justice Neil Gorsuch wrote in the decision issued on July 9, 2020, in the case of McGirt v. Oklahoma. And that promise, made in treaties between the United States and the Muscogee (Creek) Nation more than 150 years earlier, would finally be kept. With the Court's ruling, the full extent of the Muscogee (Creek) Reservation was reaffirmed-meaning that 3.25 million acres of land in Oklahoma, including part of the city of Tulsa, were recognized once again as "Indian Country" as defined by federal law. A Promise Kept explores the circumstances and implications of McGirt v. Oklahoma, likely the most significant Indian law case in well over 100 years. Combining legal analysis and historical context, this book gives an in-depth, accessible account of how the case unfolded and what it might mean for Oklahomans, the Muscogee (Creek) Nation, and other tribes throughout the United States. For context, Robbie Ethridge traces the long history of the Muscogee (Creek) Nation from its inception in present-day Georgia and Alabama in the seventeenth century; through the tribe's rise to regional prominence in the colonial era, the tumultuous years of Indian Removal, and the Civil War and allotment; and into its resurgence in Oklahoma in the twentieth and twenty-first centuries. Against this historical background, Robert J. Miller considers McGirt v. Oklahoma, examining important related cases, precedents that informed the Court's decision, and future ramifications-legal, civil, regulatory, and practical-for the Muscogee (Creek) Nation, federal Indian law, the United States, the state of Oklahoma, and Indian nations in Oklahoma and elsewhere. Their work clarifies the stakes of a decision that, while long overdue, raises numerous complex issues profoundly affecting federal, state, and tribal relations and law-and will continue to do so for the foreseeable future.

Following many months of debate and lobbying, the new Bills of Exchange Amendment Act became law on 1 March 2001. This Act seeks to amend the Bills of Exchange Act in order to simplify and clarify the law relating to cheques and to accommodate the advances of technology, as well as to reduce the high incidence of cheque fraud. The Commentary deals specifically with each amendment, and gives a clear analysis of its legal effect.;(Supplement to the Handbook on the Law of Negotiable Instruments - 2nd ed, 1997)