Individuals, Institutions, and Markets offers a theory of how the institutional framework of a society emerges and how markets within institutions work. The book shows that both social institutions, defined as the rules of the game, and exchange processes can be analyzed along a common theoretical structure. Mantzavinos' proposal is that a problem solving model of individual behavior inspired by the cognitive sciences provides such a unifying theoretical structure. Integrating the latest scholarship in economics, sociology, political science, law, and anthropology, Mantzavinos offers a genuine political economy showing how social institutions affect economic outcomes.
This new work analyses the law and regulation relating to financial investments, their markets, payment and settlement systems, as well as the duties and liabilities of intermediaries, providing inval
As the volume of transactions in European financial markets continues to grow, the use of financial collateral, be it in the form of cash, shares, bonds or credit claims, has become a critical tool in
Financial information is a both a public resource and a commodity that market participants produce and distribute in connection with other financial products and services. Legislators, regulators, and
This book explores the role of law and regulation in sustaining financial markets in both developed and developing countries, particularly the European Union, United States and China. The central argu
The European Union has long sought to create a single financial area across Europe where consumers in one country benefit from financial markets and activities in other countries. With the emergence of the Internet as a platform for the provision of online banking services, the creation of a pan-European market for banking services appeared a realistic proposition. In practice, however, this has not happened. This book asks why and argues that the creation of banking markets via the Internet relies on both available technologies and appropriate laws and regulations. The institutional and legal framework for online banking services in the single European market are examined, as is the level of legal harmonization achieved in the UK, France and Germany under the influence of the EU Directives pertaining to online banking activities.
In 2005, more than two million Americans--six out of every 1,000 people--filed for bankruptcy. Though personal bankruptcy rates have since stabilized, bankruptcy remains an important tool for the reli
In today's increasingly global and integrated financial climate, there is an amplified need for cooperation between regulators and supervisors across the globe in order to promote economic growth and
Niamh Dunne undertakes a systematic exploration of the relationship between competition law and economic regulation as legal mechanisms of market control. Beginning from a theoretical assessment of these legal instruments as discrete mechanisms, the author goes on to address numerous facets of the substantive interrelationship between competition law and economic regulation. She considers, amongst other aspects, the concept of regulatory competition law; deregulation, liberalisation and 'regulation for competition'; the concurrent application of competition law in regulated markets; and relevant institutional aspects including market study procedures, the distribution of enforcement powers between competition agencies and sector regulators, and certain legal powers that demonstrate a 'hybridised' quality lying between competition law and economic regulation. Throughout her assessment, Dunne identifies and explores recurrent considerations that inform and shape the optimal relationship
The patterns and impact of globalization have become a common concern of all international jurists, sociologists, political scientists, and philosophers. Many have observed the erosion of the powers o
Over the past few decades, significant changes have occurred across capital markets. Shareholder activists have become more prominent, institutional investors have begun to wield more power, and
Using case studies of particular countries and particular regions, delving deeply into the facts, this book focuses on market law and policy in sub-Saharan Africa, showing how markets can be harnessed
Social enterprises represent a new kind of venture, dedicated to pursuing profits for owners and benefits for society. Social Enterprise Law provides tools that will allow them to raise the capital t
The Islamic Finance industry has experienced significant expansion in the last decade with a growth of 15% per annum. Islamic banks’ assets globally are forecasted to grow beyond $2 trillion and it
Ensuring an adequate, long-term energy supply is a paramount concern in Europe. The security of a country's energy supply must be guaranteed, and within the EU individual member states are acting in o
The Markets in Financial Instruments Directive (MiFID) is a detailed re-writing of the regulation of capital markets. To the extent those rules permit, the Financial Services Authority (FSA) is also introducing high-level 'principles-based regulation'. In response to this, Paul Nelson presents practical guidance on the regulation of the capital markets, ranging from new issues and IPOs to investment banking, broker-dealing and asset management. All laws and rules relevant to the regulation of the capital markets are explained and put into context within the economic operation of markets, institutions and products, the European Single Market, the FSA's policies and objectives, the historical evolution of the regulations and the general civil and criminal law. Drawing on 30 years' experience as a practitioner, and referring to a vast range of supporting materials, the author provides an insightful analysis and critique of the rules, the rule makers and the institutions.
The most fascinating and profitable subject of predictive algorithms is the human actor. Analysing big data through learning algorithms to predict and pre-empt individual decisions gives a powerful tool to corporations, political parties and the state. Algorithmic analysis of digital footprints, as an omnipresent form of surveillance, has already been used in diverse contexts: behavioural advertising, personalised pricing, political micro-targeting, precision medicine, and predictive policing and prison sentencing. This volume brings together experts to offer philosophical, sociological, and legal perspectives on these personalised data practices. It explores common themes such as choice, personal autonomy, equality, privacy, and corporate and governmental efficiency against the normative frameworks of the market, democracy and the rule of law. By offering these insights, this collection on data-driven personalisation seeks to stimulate an interdisciplinary debate on one of the most pe
Since the publication of the first edition in 2006, financial regulation around the world has changed dramatically as a result of the 2008 global financial crisis. As one of the world's leading financ
