The Financial Services Regime in International Economic Law: on the Difficult Relationship between Trade Liberalization and Prudential Measures

The PhD thesis analyses the financial services regime in international economic law from the perspective of the difficult relationship between trade liberalisation and prudential measures. Financial stability plays a fundamental role for the well-being and well-functioning of the global economy, but, it is at the same time a complex sector to regulate and supervise and, especially after the 2007-08 economic crisis, States have tightened up their regulation of financial services, introducing more severe and protectionist prudential measures. However, in an increasingly interconnected global economy, the harmonization of prudential regulation at the international level is an essential step to guarantee integrity, fairness and stability of financial markets and trade. The research analyses the tools at disposition to achieve this aim, the related problematic issues and the perspectives and possible solutions for the future, starting from the World Trade Organization (WTO) legal framework and its General Agreement on Trade in Services (GATS), devoted to discipline trade in services among the WTO Members. Then, the research moves to a second legal instrument, the Free Trade Agreements (FTAs), which has witnessed a remarkable spread in the last decades. Finally, the research addresses the international standards, developed by supranational entities and implemented by an increasing number of States, as they offer rules and guidelines adequate to update the international financial scenario. Nevertheless, the international standards alone cannot be the solution because, first, they are not mandatory, as governments decide voluntarily to apply them and, second, their decision-making process do not respect the requirements of transparency and representative membership. In light of this analysis, the thesis aims at providing an answer to its research question: how to give more certainty to States and economic operators in the planning of the domestic disciplines and business activities in order to provide a sound and stable international financial system.

Sealing practices in the Near East during the Late Bronze II period: administration and trade in the age of internationalism

This PhD research investigates sealing practices in the Near East during the Late Bronze II period (ca. 1375-1175 BCE). Sealings from archaeological contexts in the Southern Levant, North Syria, Upper and Lower Mesopotamia and South-Western Iran are taken under consideration and analyzed on multiple aspects at local, regional, and international levels. The contextual, functional, and iconographic analysis of these materials, in fact, allows to reconstruct the nature of the transactions and the agents involved in the sealing operations within local administrative systems, highlighting at the same time aspects of inter-regional interactions during the age of internationalism. Following a survey of the available evidence, a corpus consisting of 1845 records from 28 different sites across the ANE, has been filed using MS Access and MS Excel, including 740 unpublished sealing from Karkemish. Among this large evidence, the corpus of recently discovered sealings from Karkemish and the other scattered sealings from the North Syrian provinces, for instance, provide insights on the core-periphery relationships under the Hittite Empire; while the deposit from Building P at Tell Sheikh Hamad, that of the Middle Assyrian houses at Tell Fekheriye, and of the dunnu of Tell Sabi Abyad, significantly contributes to defining the administration of provinces within the Middle Assyrian state and the regional circulation of good. The less extensive evidence from South Mesopotamia under the Kassite rule and from Middle Elamite contexts in South-Western Iran somewhat contribute as well to the understanding of sealing practices in the LB II period. The South Levantine kingdoms, on the other hand, seems participates to the Egyptian regional network of exchanges and sealing practices.