Vaitsekhovska O. International Financial Legal Order: Theoretical Foundations and Current Issues in the Context of Globalization.

The thesis investigates the legal nature of the international financial law and specifies types of international financial relations that are the subject to the international financial law legal regulation. The concept of the international financial order has been developed based on the existing scientific approaches to the notions of legal order and international legal order. Significant features of this concept are distinguished, its components are identified and links between them are determined. The research substantiates the branch independence of the international financial law and studies its correlation with the international economic law. The principles of the international financial law are examined in the research and the peculiarities of their implementation in the modern international financial legal order are revealed. The legal nature and types of international agreements on financial issues are disclosed. The specifics of contractual relations between the IMF and its member states on the problems of obtaining financing are determined. The place of the international legal custom in the system of sources of international financial law is investigated, the particularities of formation of international legal custom in the international financial legal order are established, and the concept of “instant custom” is assessed. The influence of judicial and arbitral decisions on the formation of the international financial legal order, their functions and features are also considered. The specificity of the legal nature of acts of international financial organizations is investigated within the framework of the theory of “soft law” as well as it is studied their regulatory role in the modern international financial legal order in the course of globalization and the growth of system risks. The characteristics of the subject of international financial law are determined in the thesis. The legal status of the state as a subject of international financial legal relations, the legal foundations of the financial sovereignty of the state, the tendency to apply limited immunity of states in financial legal relations with individuals are analyzed. The system of international financial institutions of universal, regional and sub-regional levels is studied. The legal characterization of the elements of the legal personality of international financial institutions is performed. The features of the international financial legal order of the European Union are determined. The legal status of international non-governmental financial organizations, sub-national entities, TNCs and individuals in the current international financial legal order is analyzed. Based on the legal analysis of legislative and institutional components of the international financial legal order the author has identified the main shortcomings of the legal regulation of international financial relations and has outlined main directions of reforming to minimize them. The peculiarities of formation of the domestic and foreign financial policy of Ukraine as a subject of international financial legal order are thoroughly studied and the main directions of cooperation between Ukraine and subjects of international financial law are revealed.