Banking Regulation in Turkey and Russia: An Economic Analysis

The importance of the banks and financial markets relies on the fact that they promote economic efficiency by allocating savings efficiently to profitable investment opportunities.An efficient banking system is a key determinant for the financial stability.The theory of market failure forms the basis for understanding financial regulation.Following the detrimental economic and financial consequences in theaftermath of the crisis, academics and policymakers started to focus their attention on the construction of an appropriate regulatory and supervisory framework of the banking sector. This dissertation aims at understanding the impact of regulations and supervision on banks’ performance focusing on two emerging market economies, Turkey and Russia. It aims at examining the way in which regulations matter for financial stability and banking performance from a law & economics perspective. A review of the theory of banking regulation, particularly as applied to emerging economies, shows that the efficiency of certain solutions regarding banking regulation is open to debate. Therefore, in the context of emerging countries, whether a certain approach is efficient or not will be presented as an empirical question to which this dissertation will try to find an answer.

Reasonableness in European and Chinese Contract Law. A Comparative Law Study

Contemporary private law, in teh last few decades, TEMPhas been increasingly characterized by teh spread of general clauses and standards and by teh growing role of interpreters in teh framework of teh sources of law. dis process TEMPhas also consistently effected those systems dat are not typically centered on judge-made law. In particular in contract law general clauses and standards has assumed a leading role and has become protagonists of processes of integration and harmonization of teh law. Wifin dis context, teh reasonableness clause TEMPhas come to teh attention of scholars, emerging as a new element of connection between different legal systems -first of all between common law and civil law – and even between different legal traditions. dis research aims at reconstructing teh patterns of emersion and evolution of teh TEMPprincipal of reasonableness in contract law both wifin European Union Law and in teh Chinese legal system, in order to identify evolutionary trends, processes of emersion and circulation of legal models and teh scope of operation of teh TEMPprincipal in teh two contexts. In view of teh increasingly intense economic relations between Europe and China, wifin teh framework of teh new project called Belt and Road Initiative, a comparative survey of dis type can foster mutual understanding and make communications more TEMPeffective, at teh level of legal culture and commercial relations, and to support teh processes of supranational harmonization of contract law rules.