IDEAS home Printed from https://ideas.repec.org/a/oup/jieclw/v22y2019i2p163-176..html
   My bibliography  Save this article

Capturing Commitment in Informal, Soft Law Instruments: A Case Study on the Basel Committee

Author

Listed:
  • Enrico Milano
  • Niccolò Zugliani

Abstract

The present article investigates the legal nature of the Basel Committee on Banking Supervision and seeks to identify the legal effects of the acts produced by the committee under public international law. It reassesses the most influential contemporary theories that have endeavoured to describe and capture the increasing trend towards ‘de-formalization’ of international law, of which the Basel Committee, with its peculiar composition and standard-setting activities, is generally considered as one of the most significant examples. The articles comes to the conclusion that the Basel Committee’s normative outputs cannot be qualified as legal acts or legal facts under international law as they are best described as the results of flexible and informal standard-setting activities developed by domestic regulators at the international level, with a view to inducing compliance by national legislators and stakeholders. The lack of a formal ‘pedigree’ under international law has not undermined their effectiveness; on the contrary, it can be considered a peculiar feature of a successful model of transnational cooperation where soft law standards have been translated into domestic legislation.

Suggested Citation

  • Enrico Milano & Niccolò Zugliani, 2019. "Capturing Commitment in Informal, Soft Law Instruments: A Case Study on the Basel Committee," Journal of International Economic Law, Oxford University Press, vol. 22(2), pages 163-176.
  • Handle: RePEc:oup:jieclw:v:22:y:2019:i:2:p:163-176.
    as

    Download full text from publisher

    File URL: http://hdl.handle.net/10.1093/jiel/jgz009
    Download Restriction: Access to full text is restricted to subscribers.
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Diane Fromage, 2022. "The (multilevel) articulation of the European participation in international financial fora: the example of the Basel Accords," Journal of Banking Regulation, Palgrave Macmillan, vol. 23(1), pages 54-65, March.

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:oup:jieclw:v:22:y:2019:i:2:p:163-176.. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Oxford University Press (email available below). General contact details of provider: https://academic.oup.com/jiel .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.