Katharina Pistor is Professor of Comparative Law at Columbia Law School and Director of the Law School’s Center on Global Legal Transformation. Her research and teaching spans corporate law, corporate governance, money and finance, property rights, comparative law and law and development. She has published widely in legal and interdisciplinary journals and is the author and co-author of several books. She is the recipient of the Max Planck Research Award (2012) and of several grants from the Institute for New Economic Thinking (INET) and the National Science Foundation.
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Banks are pushing for deregulation and roll backs of Dodd-Frank’s regular check-ups on their financial health. We should be worried.
Who wields supreme power over the ECB? This column analyses the recent ruling by the German Constitutional Court that the ECB cannot act as lender of last resort. Although seemingly couched by the referral of this decision to the European Court of Justice, this is a bid for power and the return to the pre-crisis paradigm of ‘ultra posse nemo obligatur’.
When Greece’s sovereign-debt crisis threatened the euro’s survival, U.S. officials called their European counterparts to express bewilderment at their inability to resolve the issue.
State and market are often depicted as distinct, even antagonistic. Markets appear as natural products of spontaneous ordering; states as leviathans that if left untamed will distort, if not destroy markets’ natural state.
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How does the law interact with finance? Katharina Pistor on the paradoxical relationship between law and finance.
The Institute will host the Winter School on Law and Finance at Columbia University’s Global Center in Paris on January 6-9, 2014.
The Institute for New Economic Thinking held its annual plenary conference in Hong Kong from April 4-7, 2013 at the InterContinental Hotel in Kowloon. The event discussed Asia’s emergence in the global economy and other core issues.
Without law and legal institutions, financial markets won’t work. That’s what economists discovered about 15 years ago, when former socialist countries turned towards capitalism.