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Max Planck Encyclopedia of Public International Law [MPEPIL]

Capital, Free Flow of

Matthias Ruffert

From: Oxford Public International Law (http://opil.ouplaw.com). (c) Oxford University Press, 2021. All Rights Reserved.date: 30 July 2021

International investment law — International monetary law — Developing countries — Goods — Services

Published under the auspices of the Max Planck Institute for Comparative Public Law and International Law under the direction of Professor Anne Peters (2021–) and Professor Rüdiger Wolfrum (2004–2020). 

1 Capital is one of the most important factors of production in modern economies. Its free, unrestricted flow is at the basis of the process of economic globalization. These economic truisms, however, are not adequately reflected in international law as there is no general, universally recognized definition of the notion of free flow of capital. The broad concept of free flow of capital embraces aspects relating to capital movements, balance of payments as well as foreign investments. Because there are manifold interrelations between those different aspects, it is...
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