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9831. The Soft Touch of International Financial Regulation: Status, Flaws and Future

Author:
Niall O'Shaughnessy
Publication Date:
06-2021
Content Type:
Journal Article
Journal:
The Goettingen Journal of International Law
Institution:
The Goettingen Journal of International Law
Abstract:
The 2008 global financial crisis focused attention on the relationship between the behaviour of international financial institutions and the rules they follow. Many banks in the US and Europe failed, in part, due to their inability to absorb the fallout of the US mortgage market collapse. If international financial institutions could not protect themselves from the cycles of the market, how come regulators were unable to do so either? The most relevant instrument of international financial regulation for understanding the 2008 crisis is the Basel Accords, the rules that specify how much capital a bank should always hold in reserve. However, these rules are ‘soft law’ and so, non-binding. It is a myth of course that soft law is the only way to regulate international finance, as many scholars argue. Despite numerous rounds of reform, the Basel Accords have always been inadequate. The purpose of this paper is to account for the flaws of the Basel Accords and the role that soft law plays in creating those flaws. This paper also analyses the competing theories behind the rise of soft law within financial regulation and the ‘political economy’ explanation is endorsed. The final section of the paper discusses the future of financial regulation and soft law, as well as highlighting innovations from outside the hard/soft law dichotomy and outside the Global North. This paper concludes by stating that the theory behind soft law does not play out in practice within finance and that it remains in place because it suits the interests of large institutions and powerful states. At the same time, a return to Bretton Woods or a new World Financial Organization is problematic and, as such, we must look beyond the hard/soft law debate and embrace the work of the Global South and East.
Topic:
Markets, Financial Crisis, Regulation, Capital, and Banking
Political Geography:
Global Focus

9832. The Evolution of the Prohibition of Genocide: From Natural Law Enthusiasm to Lackadaisical Judicial Perfunctoriness – And Back Again?

Author:
Julia Klaus
Publication Date:
06-2021
Content Type:
Journal Article
Journal:
The Goettingen Journal of International Law
Institution:
The Goettingen Journal of International Law
Abstract:
International legal scholarship and practice have reached a point where it is undisputed that the prohibition of genocide has the status of jus cogens and entails erga omnes obligations. It is, however, astonishing how little academic focus has been dedicated to the normative development leading to this extraordinary rank. In a legal regime with as little hierarchical structure as public international law, examining the birth process of such a norm promises considerable insights into normative formation in general and may inform jurisprudential theories on the nature of international law. This article illustrates the evolution of the prohibition of genocide by outlining the way to the 1948 UN Genocide Convention and the later interpretations of the norm. It traces the origin of the genocide prohibition to naturalistic ideas of overarching laws of humanity in international law and follows its development into the early 21st century. An analysis of international jurisprudence reveals that, after the jus cogens status of the prohibition of genocide and its erga omnes dimension had been settled, international judges handled the norm in a surprisingly lackadaisical and perfunctory manner. The very recent ICJ order on provisional measures in the Myanmar Genocide case potentially marks a return towards a deeper focus on moral facts determining the prohibition that point to naturalistic theories persisting, notwithstanding the positivistic mainstream approaches to international law. The article contributes to a more accurate picture of and greater academic interest in these naturalistic undercurrents.
Topic:
Genocide, International Cooperation, International Law, International Court of Justice (ICJ), and Humanitarian Crisis
Political Geography:
Global Focus

9833. Perspectives for a New International Crime Against the Environment: International Criminal Responsibility for Environmental Degradation under the Rome Statute

Author:
Ammar Bustami and Marie-Christine Hecken
Publication Date:
06-2021
Content Type:
Journal Article
Journal:
The Goettingen Journal of International Law
Institution:
The Goettingen Journal of International Law
Abstract:
This article draws attention to the need of a reform of the environmental protection by means of international criminal law as enshrined in the Rome Statute of the International Criminal Court. After giving a short overview of the contemporary environmental protection in war- and peacetime offered by international criminal law, it becomes clear that international criminal law fails to succeed at offering sufficient environmental protection. This paper outlines that there is no convincing reason for a differentiated approach in international criminal law to environmental damage in wartime and in peacetime, and that a shift from an anthropocentric to an ecocentric approach would positively contribute to a more effective protection of the environment. It is therefore argued for the introduction of a new integral and ecocentric international crime against the environment in the Rome Statute. The paper then elaborates on existing proposals on such a new crime against the environment before some proper observations on the exact contours of the crime are made. A focus lies on the new crime’s threshold of seriousness as well as on the necessary mens rea requirements. The insufficiency of the contemporary legal framework and the merits of a new crime against the environment are exemplified by an archetype example of peacetime environmental damage, the Chevron/Texaco oil spill scenario in Ecuador.
Topic:
Climate Change, Environment, International Cooperation, and International Law
Political Geography:
Global Focus

9834. The European Court of Human Rights Through the Looking Glass of Gender: An Evaluation

Author:
Natalie Alkiviadou and Andrea Manoli
Publication Date:
06-2021
Content Type:
Journal Article
Journal:
The Goettingen Journal of International Law
Institution:
The Goettingen Journal of International Law
Abstract:
Gender equality is of paramount importance for a functioning democracy and for economic growth. It is a central tenet of human rights law and has seen significant developments on the legislative, judicial, and policy levels of the Council of Europe. Through a mélange of theory, legislation, and jurisprudential analysis, this paper will assess developments in the European Court of Human Rights’ approach to the issue of gender equality. This will be achieved through a survey of case law involving domestic violence, child-bearing, and the wearing of religious dress by women. The paper will demonstrate that, despite the existence of significant milestones in the ambit of promoting gender equality, and, notwithstanding effective advancements made by this body, particularly vis-à- vis domestic violence case law, improvements to its approach remain necessary. More specifically, on one level, the Court denounces and works against gender inequality and discrimination but, on another, consciously or unconsciously, its approach and findings are marred by its own stereotypes, patriarchal influences, misconceptions, and preconceptions about what gender equality actually is and how it should be pursued.
Topic:
Gender Issues, International Cooperation, Economic Growth, Violence, and Equality
Political Geography:
Europe

9835. Essential Work: Using A Social Reproduction Lens to Investigate the Re-Organisation of Work During the COVID-19 Pandemic

Author:
Sara Stevano, Rosimina Ali, and Merle Jamieson
Publication Date:
04-2021
Content Type:
Working Paper
Institution:
School of Oriental and African Studies - University of London
Abstract:
COVID-19 has shaken a foundational pillar of global capitalism: the organisation of work. Whilst workers have commonly been categorised based on skills, during the pandemic the ‘essential worker’ categorisation has taken prominence. This paper explores the concept of essential work from a global feminist social reproduction perspective. The global perspective is complemented by a zoom-in on Mozambique as a low-income country in the Global South, occupying a peripheral position in global and regional economies and with a large share of vulnerable and essential workers. We show that the meaning of essential work is more ambiguous and politicised than it may appear and, although it can be used as a basis to reclaim the value of socially reproductive work, its transformative potential hinges on the possibility to encompass the most precarious and transnational dimensions of (re)production.
Topic:
Labor Issues, Feminism, Pandemic, and COVID-19
Political Geography:
Africa, Mozambique, and Global South

9836. Rwanda’s Agricultural Transformation Revisited: Stagnating Food Production, Systematic Overestimation, and a Flawed Performance Contract System

Author:
Sebastian Heinen
Publication Date:
09-2021
Content Type:
Working Paper
Institution:
School of Oriental and African Studies - University of London
Abstract:
Sustained productivity growth in the agricultural sector is a key component of a country’s path out of poverty. The quantitative development of Rwanda’s agriculture in recent years has been widely regarded as a success story and as further evidence for the effectiveness of its government to bring about sustained socio-economic progress. However, simple statistical analysis of publicly available data shows that food crop production volumes and yields have actually stagnated over the last fifteen years. Moreover, agricultural output was significantly overestimated from 2008-2013 and then silently corrected downwards in Rwandan and international datasets. As a result, the country’s economic growth numbers are very likely inflated as well. After presenting substantive evidence for these claims, this paper discusses three issues arising from them. First, it argues that yield-raising effects of massive mineral fertiliser application and other ‘Green Revolution’ technologies were offset by the enormous disruption resulting from the government’s rigorously enforced agricultural reform programme. Second, it finds that massive food crop production overestimation likely proliferated due to a flawed performance-based governance system that incentivised bureaucrats and farmers to tweak the numbers instead of compelling them to achieve actual results. Even more, this inflation prevented early detection of agricultural stagnation and consequently also the required adaptation of agricultural policy. Third, the exceptional ‘brand-building’ capabilities of the Rwandan ruling elite led to the preservation of its false reputation of having achieved skyrocketing yield growth. As a silver lining, a few recently revised reform components point to the possibility of an eventually more successful agricultural transformation, whose chances might hinge on the government’s ability to allow more discretion of bureaucrats and more inclusion of local knowledge.
Topic:
Agriculture, Food, Rural, and Farming
Political Geography:
Africa and Rwanda

9837. Climate Change, Central Banking, and Financial Supervision: Beyond the Risk Exposure Approach

Author:
Yannis Dafermos
Publication Date:
09-2021
Content Type:
Working Paper
Institution:
School of Oriental and African Studies - University of London
Abstract:
It is now increasingly accepted that central banks and financial supervisors can no longer ignore climate change. However, there is no consensus on how they should address climate issues. On the one hand, there is a view that central banks and financial supervisors should mainly contribute to the assessment of the exposure of the financial system to climate-related financial risks, considering at the same time the possibility of incorporating climate risks into monetary policy and financial supervision and regulation. On the other hand, it is argued that central banks and financial supervisors need to take action such that they contribute directly to the decarbonisation of our economies and the prevention of climate systemic risks. In this paper, I analyse the main premises and implications of these two approaches and I explain why a systemic risk approach is necessary in the age of climate emergency. I also discuss the challenges involved in a policy agenda aiming at the reduction of climate systemic risks and I outline how these challenges can be tackled.
Topic:
Climate Change, Finance, Risk, and Banking
Political Geography:
Global Focus

9838. Psychological Resilience to Extremism and Violent Extremism

Publication Date:
05-2021
Content Type:
Special Report
Institution:
Hedayah
Abstract:
This report provides an overview of the expert roundtable on the topic of psychological resilience to violent extremism held during mid-2021. It summarizes key highlights and recommendations that experts made during the roundtable. The roundtable identified relevant psychological factors that increase individual resilience to extremism and violent extremism, provided practical recommendations for cognitive and behavioral skills among topics.
Topic:
International Security, Violent Extremism, Psychology, Political Extremism, and Countering Violent Extremism
Political Geography:
Global Focus

9839. A Movement Between Parliamentary Politics and the Pathway to Violence and Terrorism: Germany’s Radical Right Narratives and Counter-narratives

Author:
Maximilian Kreter
Publication Date:
06-2021
Content Type:
Special Report
Institution:
Hedayah
Abstract:
This country report, written by Maximilian Kreter, is one of the outputs of the CARR-Hedayah Radical Right Counter Narratives Project, a year-long project under the STRIVE Global Program at Hedayah funded by the European Union and implemented by the Centre for Analysis of the Radical Right (CARR). The overall project creates one of the first comprehensive online toolkits for practitioners and civil society engaged in radical right extremist counter narrative campaigns. It uses online research to map narratives in nine countries and regions, including Australia, Canada, Germany, Hungary, New Zealand, Norway, Ukraine, United Kingdom, and the United States. It also proposes counter narratives for these countries and regions and advises on how to conduct such campaigns in an effective manner.
Topic:
Civil Society, Far Right, Radical Right, Civil Society Organizations, and Countering Violent Extremism
Political Geography:
United States, United Kingdom, Ukraine, Canada, Norway, Germany, Hungary, Australia, and New Zealand

9840. Providing Support to Children and Youth Vulnerable to or Affected by Radicalization Leading to Violent Extremism (RLVE)

Author:
Julien Domergue and Cristina Mattei
Publication Date:
06-2021
Content Type:
Special Report
Institution:
Hedayah
Abstract:
This report summarizes the results of Hedayah’s capacity building program Providing Support to Children and Youth Vulnerable to or Affected by Radicalization Leading to Violent Extremism (RLVE) conducted under the guidance of the National Counter Terrorism Commission of Tunisia between January 2019 and November 2019. Since 2018, Hedayah has been training educators, psychologists and social workers across Tunisia to ensure they are better equipped to support the effective reintegration of youth and children affected by radicalization leading to violent extremism.
Topic:
Regional Cooperation, Violent Extremism, Radicalization, Youth, and Countering Violent Extremism
Political Geography:
Tunisia