LAW AND DEVELOPMENT: A NEW JURISPRUDENTIAL DISCOURSE CHALLENGES, PROSPECTS AND INITIATIVES TO LINK DEVELOPMENT WITH HUMAN RIGHTS
Prof. Yubaraj Sangroula
The article talks about the ‘threshold ability’ i.e. the ability of a person to empower himself to such an extent that he can avail of his political and civil rights. The author argues that this threshold ability cannot be attained unless and until an entity has social and economic rights which allow him to partake in development and address his basic needs. Hence, in the absence of socio-economic rights; so called ‘fundamental rights’ that consist of political and civil rights are ephemeral and moot. Hence, the author calls for a concerted effort to guarantee socio-economic rights and calls for them to be placed at par with political rights.
AN ESSAY ON BELLAMY FOSTER’S IDEA OF FINANCIALIZATION: ASSESSING THE CREDIBILITY AND PROSPECTS IN FINANCIAL REGULATORY SYSTEM
Gazi Sangita Farzana
Economic liberalization and technological advancement have brought the world closer than ever before. The lasting global imbalances, the recent subprime mortgage fallout, and the subsequent credit crunch in the United States (US) have rendered the global economic outlook more uncertain and precarious. The excessive domination of finance over the production has led the world economy to a volatile stage when it is thought of having a new financial structure. This essay discusses, in turn, Bellamy Foster’s idea of financialization and different perspectives thereof. It also analyses the associated implications of financialization on financial regulation. In fine, it discusses the necessity to bring about a financial reform and change in the regulatory system to prevent the recurrence of ‘boom and bust’.
The author via his scholarship seeks to enunciate upon the competition law regime in India and the roles and powers inherent within the Competition Commission of India. He explains how the CCI from its inception in 2002 has made massive strides and has now become a competent and efficient body. He lists out the powers of the CCI with a special emphasis on its powers regarding regulating mergers and its power to place huge penalties on violators. He also lists the latest occurrences in the competition law regime in India; especially the Competition Bill, 2012.
The author via his scholarship tries to firstly, map Third World Approaches to International Law (TWAIL), elaborating on it genesis and the causes for its development, post which he tries to show the dichotomy existent within the system, i.e. its Eurocentricism; the very paradox it set out to escape.
SHADOW BANKING, FINANCIAL RISK, AND REGULATION IN CHINA AND OTHER DEVELOPING COUNTRIES
Prof. Steven L. Schwarcz
Shadow banking is growing rapidly in a number of developing countries, including China where it recently was estimated at around 20 trillion yuan (which is approximately a third the size of China’s bank-lending market). The shadow banking sector in these countries is typically weakly regulated, yet the growth of the sector is thought to pose risks to financial stability. Additional regulation therefore may be needed. Any such regulation, however, should attempt to strike a balance between reducing that risk and preserving shadow banking as an important channel of alternative funding to developing economies, particularly in the face of significant retrenchment by large banks that had dominated the credit supply.
INDIAN FINANCIAL CODE VIS A VIS INDIAN FINANCIAL LAW: THE WAY FORWARD
Dr. Kondaiah Jonnalagadda
The author elaborates upon the Indian Financial Code as promulgated by the Financial Sector Legislative Reforms Commission (FSLRC) set up in 2011. The author describes the complex and confusing state of Indian financial regulation and then states the salient features of the Indian Financial Code (IFC) and how this code can help achieve uniformity and clarity, features which are essential to the legal regime of any nation specially in an area like financial markets which is prone to market sentiments and affects everyday lives of millions of consumers and investors who avail of these services.
INTERNATIONAL ENVIRONMENTAL ISSUES AND THE INDIA’S STAND
Dr. Sreenivasulu N. S
I take the pleasure of writing a review of a book titled “International environmental issues and the India’s stand. The book published by an international publisher ePub Bud, based in Santa Monica, California, USA. The book has total 132 pages. There are 13 chapters in the book written by the select Students of NUJS working in the field of environmental law and compiled and put together in a systematic manner by Dr. Arup Kumar Poddar who teaches and researches in environmental law at the WB National University of Juridical Sciences (NUJS), Kolkata. To take you through the contents of the book in the process of review I find following insights and inferences. I believe that these inferences would present a blue print of the book and the overall cause of review of the book, its contents and the coverage. Let me go one by one for chapter wise review in the following way