ABSTRACT
By eschewing the traditional international law mechanisms common in the Free Trade and Investment Regime (FTI Regime), states seek to retain sovereign control over finance, while acknowledging the benefit of global coordination and cooperation in the field. The result is a complex system of global financial governance, which balances national versus global, and state versus non-state, interests. However, despite differing viewpoints on how best to frame the system, there is broad acceptance that systemic financial stability is a key aim of the global financial governance (GFG) Framework. This chapter explores this complex global governance framework. It begins by outlining competing views regarding global governance. The chapter then provides a detailed analysis of each limb of the GFG Framework and how the limbs interact. Finance and its regulation during the twentieth and twenty-first centuries is therefore closely intertwined with globalisation.
