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Tax consequences of foreign exchange gains and losses.
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ISBN: 9264859403 Year: 1988 Publisher: OECD Publishing

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Foreign currency claims in the conflict of laws
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ISBN: 1472565061 1282806483 9786612806483 1847315747 9781847315748 9781841138923 1841138924 9781472565068 9781282806481 6612806486 Year: 2010 Publisher: Oxford Hart

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"Problems in assessment of damages remain among the most contentious aspects of private law disputes. The assessment exercise becomes particularly difficult when one of the parties asks that damages be assessed in some foreign currency or claims that, even though damages should be assessed in the currency of the forum, foreign exchange losses should form a head of loss. The 1975 decision of the House of Lords in Miliangos v George Frank (Textiles) Ltd was revolutionary in that it permitted English courts to award judgment in a foreign currency. Miliangos has been influential throughout the common law world and courts in the commonwealth and the United States now contemplate awarding damages in currencies other than their own. However, that modernisation has hardly eliminated the problems in this area. When may a judge assess damages in a currency other than that of the forum? If a court elects to assess damages in its own currency, what conversion date should it select in converting from a foreign currency that was relevant to the obligations between the parties? In an age of fluctuating currencies questions of this nature present judges with choices involving significant financial implications. This book takes a comparative look at how common law courts have addressed damages claims when foreign currencies are involved, and at statutory responses to that issue. It describes the practices of UK, Commonwealth and American courts in this field and draws both on principles of private international law and of damages assessment to analyse current practice."--Bloomsbury Publishing.


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The logic of financial nationalism : the challenges of cooperation and the role of international law
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ISBN: 1108100163 1108102565 1108102964 1108103367 1108104975 1316986950 1108103774 1107189020 1316638766 9781108104975 9781316986950 1108104576 9781108104579 9781316638767 9781107189027 Year: 2017 Publisher: Cambridge : Cambridge University Press,

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Using case studies ranging from cross-border bank resolution to sovereign debt, the author analyzes the role of international law in protecting financial sovereignty, and the risks for the global financial system posed by the lack of international cooperation. Despite the post-crisis reforms, the global financial system is still mainly based on a logic of financial nationalism. International financial law plays a major role in this regard as it still focuses more on the protection of national interests rather than the promotion of global objectives. This is an inefficient approach because it encourages bad domestic governance and reduces capital mobility. In this analysis, Lupo-Pasini discusses some of the alternatives (such as the European Banking Union, Regulatory Passports, and international financial courts), and offers a new vision for the role of international law in maintaining and fostering global financial stability. In doing so, he fills a void in the law and economics literature, and puts forward a solution to tackle the problems of international cooperation in finance based on the use of international law.


Book
Collateral Damage : Exchange Controls and International Trade
Authors: --- ---
ISBN: 1451865724 1462360882 1451910258 9786613823939 1452751137 1283511487 Year: 2007 Publisher: Washington, D.C. : International Monetary Fund,

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While new conventional wisdom warns that developing countries should be aware of the risks of premature capital account liberalization, the costs of not removing exchange controls have received much less attention. This paper investigates the negative effects of exchange controls on trade. To minimize evasion of controls, countries often intensify inspections at the border and increase documentation requirements. Thus, the cost of conducting trade rises. The paper finds that a one standard-deviation increase in the controls on trade payment has the same negative effect on trade as an increase in tariff by about 14 percentage points. A one standard-deviation increase in the controls on FX transactions reduces trade by the same amount as a rise in tariff by 11 percentage points. Therefore, the collateral damage in terms of foregone trade is sizable.

The legal aspect of money: with special reference to comparative private and public international law
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ISBN: 0198253672 9780198253679 Year: 1982 Publisher: Oxford Clarendon

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