Stepping Back: Where is the Global Economic Crisis Headed? (speech)
Article from: OGEL 4 (2009), in Economic and Commercial Context for Oil, Gas and Energy Law
The focus of today's proceedings is cross-border and offshore banking. Nevertheless, our meeting takes place in the midst of a broad global financial and economic crisis. I propose we step back for a moment to examine how the issues we are discussing today fit into this larger context. I am an economist, so I will focus on the forces that drive the economy. Rules and regulations at the local, national and international level are important drivers affecting commercial behavior. Depending upon how such rules are designed and enforced, they can enhance or ...