Financial Stability and Risk Regulation. A Normative assessment of unelected power as a limit case in Public Law.

Financial Stability and Risk Regulation. A Normative Analysis of a Neglected Regulation in Developing Countries
There is a paradoxical nature in financial regulation. The same institutions and activities that allow the possibility of development of markets are those that generate the conditions for the instability and inherent fragility that would produce the next global crisis.
I will argue that legal systems and the theory of public law have not provided a proper response especially when financial regulation abnegates its role in controlling markets. It is by renouncing to provide a normative account that financial regulation, especially in developing countries, are left with a fragile institutional answer for these threats. Such a diagnosis would also help to critically approach to pressing concerns for the public law and for the role that risk and instability play in similar areas such environmental regulation, immigration, and energy regulation, all critical to the Global South.