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Part II International Economic Law as an Order of Rules and Principles, IX Good Governance—The Internal Structure of States and Global Economic Integration

From: Principles of International Economic Law (2nd Edition)

Matthias Herdegen

From: Oxford Public International Law (http://opil.ouplaw.com). (c) Oxford University Press, 2023. All Rights Reserved.date: 03 February 2023

Right to fair trial — Corruption — International investment law — International monetary law — International trade — National treatment

This chapter discusses ‘good governance’ in the context of the modern international economic order. As history shows, a certain level of political pluralism as well as the protection of civil liberties goes hand in hand with a free market order. The interaction between the rule of law, democracy, and the economic order largely depends on the prevailing political, social, and economic conditions in a State. Hence, the standards of good governance are elaborated further in this chapter: its capacity for development, its transparency and the fight against corruption, the right to due process and fair trial, and the political participation of citizens. The chapter then looks at how the capacity of a State to integrate successfully into the global economy and its openness for global competition considerably depends on its national constitutional order.

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