Resilience and transnational financial regulation

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Bibliographic Data

ID12889639
AuthorsAlessandro Galan (0000-0002-2473-0230, CUNEF Universidad, corresponding author)
Year2025
Volume22
Issue1
Pages110-129
Publication date2025-10-10
Open AccessYes
TypeARTICLE
VenueInternational Journal of Law in Context (JOURNAL)
Journal identifiersISSN: 1744-5523 • E-ISSN: 1744-5531
PublisherCambridge University Press (CUP) (PUBLISHER)
DOI10.1017/s1744552325100177
OpenAlexW4415024348
LanguageEN
References cited78

As global crises like inequality, climate change and financial instability intensify, ‘resilience’ has emerged as a central concept in international governance and law. The appeal lies in what scholars call the ‘resilience dividend’ – the promise that systems can recover and adapt when facing external shocks. This article critically examines how resilience has been adopted in international and transnational law, with a particular focus on transnational financial regulation. The article analyses the Bank for International Settlements (BIS)’ work on the resilience of central counterparties, which represents the most extended elaboration on resilience in transnational financial regulation. Rather than accepting resilience as an unqualified good, a more cautious approach is suggested. Resilience risks perpetuating existing injustices and reinforcing neoliberal structures by emphasising survival and adaptation over addressing the root causes of crises. Accordingly, resilience needs to be seen as an ambivalent concept that only through its specification one can determine its possible impact

Adaptation (eye · Ambivalence · Appeal · Corporate governance · Financial crisis · Human settlement · Psychological resilience · Resilience (materials science · Work (physics · Insurance and Financial Risk Management

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