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Deregulation

1.

2.

1 Ketil Hviding, Financial Deregulationm, the OECD Observer, No.194, at 30 (June/July

1995).
2 Id., at 33.

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3 Louis Henkin, et. al., International Law (St. Paul, Minn.: West Pub. Co., 1987), at

1164.
4 Id., at 1163-1230.
5 19799
6
7 19841
8 John S. Evans, International Finance New York: The Dryden Press, 1992, at 1.
9 Id.

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1-1
1-1

1.

1.

2.

2.

3.

3.

John S. Evans, International Finance (Orlando, FI.: The Dryden Press, 1992), at 2-3.

10 Id., at 2.
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SDRs11

12

Swaps

13

11 Id., at 4.
12 Id.
13 Philip Wood, Law & Practice of International Finance (London: Sweet & Maxwell,

1980), at 1.

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1970
14
90%

()

Spot1994
1198025151998
4l4,9001995
26%1988
l9945.520104
1.494,7501.765
4302,07016

()
1980
GDPl0%1992
GDP 110%GDP1100%

14 84314
15 IMF, World Economic Outlook Washington, D.C.: IMF, 1995 & 1998, at 80 &

187; 871020
16 http://www.bis.org/press/p130905.htm

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1997
GDP213%96%253%358%
19855,74019946
2171987
41993213l%
NYSE
198718,7001992
17,6001.4%18
34.5%20%
10%199219

197918.5%
199220.4%

()
Syndication Loan

Spreads
19931992
l9942,027

()
199010

17 Id., at 80.
18 Id.
19 Id., at 81.

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Derivative Transaction
Underlying Variables
BIS
95340
7,0001998670130%

67%30%
2%1%BIS2014
63075.9
5057.91.9
16.422.6

20

Integration

Interdependence

20 8412201224

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21
22
23

24Barrier
WTO

92%96%49%89%92%25

94%
85%26

Efciency
27

21 IMF, supra note 15, at 80.


22 Ketil Hviding, Financial Deregulation, the OECD Observer, No.194, at 30 (June/July

1995).
23 IMF, supra note 15, at 81.
24 Id.
25 Id.
26 Id.
27 1993142

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Interdependence
1.
2.

()

1.
1.
2.
3.4.
5.6.
7.

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28

(1)

29

23

1.332.
34
3.

35

(2)
3
19

1.2.3.
4.1165.

28
29 1995287

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24

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2.

(1)

(2)
(3)

(4)
30

(1)

30 Henry Cavana, Financial Innovation (London: Routledge, 1992), at 21.

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9
(2)

3.

()
1.

31

32

31 Id.
32 Ketil Hviding, Financial Deregulation, the OECD Observer, No.194, at 30 (June 1995).

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1.
2.

3.

Bretton Woods Agreement

Basle Committee
IOSCO

()IMF

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193033
1944

Quotas

Par Value
34

1
351971

1971
Smithsonian Institute
1971

1976

33
34 Louis Henkin, et. a1., International Law (St. Paul, Minn.: West Pub., Co. 1987), at

1182.

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435
SDRs

80

36

Board of Governor
Executive DirectorManaging Director

37

35 Id., at 1183.
36 Id., at 1184.
37 Art. XII(3)(c).

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ISBN 978-957-11-8199-8 ()
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