City Research Online

Abstract

International economic law (IEL) is the branch of public international law that governs international economic relations. The regulation of international economic affairs has always been a central aspect of international law, and arguably IEL has a longer history than usually assumed.

IEL is currently torn between continuity and change. It is gradually abandoning the neoliberal view which emphasized market freedom as the primary tool for development. Such approach has come under fire, determining a perceived legitimacy crisis of the various Bretton Woods institutions. IEL is responding to these challenges as ongoing reforms are providing it with new tools to serve communities by expanding the policy space for governments to regulate in the public interest. In parallel, an appropriate interpretation of the existing flexibilities by international economic courts may complement existing reform efforts.

Whether IEL has a controversial past and a bright future remains an open question. As open remain the questions of whether it can promote sustainable development and international peace, while also respecting the cultural diversity of nations in its making. While the Handbook does not purport to be exhaustive or provide definitive answers to these important questions, it offers critical insights on these key issues that can be useful for decades to come.

Publication Type:	Book Section
Additional Information:	This is an Accepted Manuscript of a book chapter published by Routledge in Routledge Handbook on International Economic Law on 16 October 2025, available online: https://doi.org/10.4324/9781003399711 It is deposited under the terms of the Creative Commons Attribution-NonCommercial-NoDerivatives License (http://creativecommons.org/licenses/by-nc-nd/4.0/), which permits non-commercial re-use, distribution, and reproduction in any medium, provided the original work is properly cited, and is not altered, transformed, or built upon in any way.
Subjects:	H Social Sciences > HB Economic Theory J Political Science > JX International law K Law > KZ Law of Nations
Departments:	The City Law School The City Law School > Academic Programmes The City Law School > International Law and Affairs Group
SWORD Depositor:	Symplectic Administrator

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