Availability of Credit and Secured Transactions in a Time of Crisis [Hardcover]

Assesses the standards set by international financial and legislative bodies on secured credit law.Assessing the challenges posed by inefficient secured credit law, the book looks at how challenges can be overcome to facilitate credit through legal reforms based on international standards set by international and financial organisations in the light of the financial crisis.Assessing the challenges posed by inefficient secured credit law, the book looks at how challenges can be overcome to facilitate credit through legal reforms based on international standards set by international and financial organisations in the light of the financial crisis.In the light of the financial crisis, it has become clear that the globalisation of financial markets has not been matched by the globalisation of legal certainty relating to financial transactions. The ability to give security influences not only the cost of credit but also, in some cases, whether credit will be available at all. Increasing the availability and lowering the cost of credit can make an important contribution to international and domestic economic development. Assessing the international challenges posed by inefficient secured credit laws, this book explores how these can be overcome to facilitate credit through legal reforms. Leading authorities in the field address the key issues surrounding the availability of credit, the role of banks in economic development and financial crises, UNCITRAL's legislative efforts, and international organisations and financial institutions and their involvement in the reform of secured transactions law.Foreword Sir Roy Goode; Introduction N. Orkun Akseli; Part I. Availability of Credit: 1. Money, bank debt, and business cycles: between economic development and financial crises David Bholat; 2. Secured Transactions Law reform, UNCITRAL, and the export of foreign legal models Gerard McCormack; 3. Comments on the availability of credit Joanna Gray; Part II. Involvement of Internatl£,