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Principles of International Economic Law, 2nd Edition by Herdegen, Matthias (22nd September 2016)

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

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

Matthias Herdegen

From: Oxford Public International Law (http://opil.ouplaw.com). (c) Oxford University Press, 2015. All Rights Reserved.date: 22 October 2019

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.

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