Session 11

Question 1

What is international economic law?

Answer 1

It governs the economic relations among nations. It relates to the production and distribution of goods, the international economic and financial transactions, currency and finance, services and the organization and status of participants

Question 2

What are the components of international economic law?

Answer 2

International monetary and financial law 
International trade law 
International development law 
International investment law 
International labour law 
International fiscal law 
International economic integration law

Question 3

What is international business regulation?

Answer 3

It includes anti-trust or competition law, environmental regulation and product safety regulation

Question 4

What is private international law?

Answer 4

It includes the international choice of law, choice of forum, enforcement of judgements, conflict of laws as a set of procedural rules that determine which legal system and which jurisdiction shall apply to a given situation, including foreign element

Question 5

What are the sources of IEL?

Answer 5

IEL derives mainly from bilateral, regional or multilateral agreements, customary law, basics, background, soft law and subsidiary means; judicial activity at the regional economic integration level

Question 6

Why is it so effective lately?

Answer 6

There is a raison amount of free trade agreements, arbitration systems are established to provide settlement mechanisms to those agreements.

Question 7

What is a characteristic of IELmechanisms?

Answer 7

It is fragmented, so there is no general IEL court. Moreover there are no system of precedents, and this leads to a great clarification of IEL in general.

Question 8

Who are the participants of IEL?

Answer 8

States, international economic organisations, physical and legal persons, NGOs.

Question 9

What is the purpose of International financial institutions?

Answer 9

Its goal is to manage the global financial system, in order to ensure international monetary cooperation and finance various projects or activities in ares of mutual interest. This leads to a diversification of the activity of international financial institutions

Question 10

What are the Bretton Woods institutions?

Answer 10

They were established after WWII to help the reconstruction of Europe, and create international cooperation to organise the global financial system.