Part I Contents, History, and Structure of International Economic Law, IV The Legal Sources of International Economic Law

Subject(s):

Human rights remedies — International investment law — International monetary law

This chapter explores the sources of international economic law. It first looks at the broader scope of international law as an order of transboundary economic relations, exploring in depth the various instruments that shape international economic law. The chapter then turns to the law of the European Union (EU) in particular—as it forms an autonomous body of law in its own right—hence its taking primacy over the regulations of its member States. Next, the chapter considers how international agreements can facilitate private economic transactions by harmonizing rules. Finally, the chapter examines how the notion of lex mercatoria captures internationally established customary rules or terms with a specific and internationally recognized meaning.