| Contents | 6 |
| ARTICLES | 10 |
| Stephen Zamora: Is There Customary International Economic Law? | 10 |
| I. Introduction | 10 |
| 1. The Role (or non-Role) of Customary International Economic Law | 11 |
| 2. International Economic Law Defined | 14 |
| 3. Customary International Law and the New International Economic Order | 16 |
| II. Basic Elements of Customary International Law | 19 |
| 1. State Practice | 19 |
| 2. Opinio Juris | 22 |
| 3. Codification of Customary International Law | 23 |
| III. Possible Areas of Customary International Economic Law | 24 |
| 1. Expropriation | 24 |
| 2. Economic Coercion | 26 |
| 3. The Most-Favoured-Nation Principle | 29 |
| 4. International Monetary Law | 30 |
| 5. Other Legal Subjects | 32 |
| a) Sovereign Immunity | 32 |
| b) Extraterritorial Effects of Government Regulation | 33 |
| c) Regulation of Multinational Enterprises | 34 |
| IV. Common Characteristics of Customary International Economic Law | 35 |
| 1. The Passive Character of Customary International Economic Law | 35 |
| 2. The „Soft Law“ Nature of Customary International Economic Law | 35 |
| 3. Customary International Economic Law at the Extremes of Economic Behaviour | 36 |
| V. Customary International Economic Law and the Courts | 37 |
| VI. An Assessment of the Analytical Framework for Customary International Economic Law | 39 |
| 1. Weaknesses in Customary International Law Analysi | 39 |
| 2. Customary Law and the Element of Exchange in International Economic Law | 40 |
| 3. The Role of Custom in an Evolving World Economy | 41 |
| VII. Conclusion – The True Role of Custom in International Economic Law | 42 |
| Ignaz Seidl-Hohenveldern: Piercing the Corporate Veil of International Organizations: The International Tin Council Case in the English Court of Appeal | 44 |
| Ibrahim F. I. Shihata: The „Gold Dollar“ as a Measure of Capital Valuation after Termination of the Par Value System: The Case of IBRD Capital | 56 |
| I. Introduction | 56 |
| II. Determination of the Standard of Value for the Bank's Capital – A Legal Analysis | 60 |
| 1. Power of Interpretation of the Bank's Articles of Agreement | 60 |
| 2. Practice of Other Agencies | 64 |
| 3. Judicial Practice | 66 |
| 4. Interpretation of the Provisions of Article //, Section 2 (a) of the Bank's Articles of Agreements | 70 |
| a) Implications of the Issue | 70 |
| b) Conflicting Interpretations | 71 |
| III. Work of the First Ad-Hoc Committee on Valuation of Bank Capital and the Executive Directors' Decision of 14 October 1986 | 76 |
| IV. The Issue Revisited – Options before the Second Ad-Hoc Committee | 80 |
| 1. Establishment and Task of the New Committee | 80 |
| 2. Options Before the Committee | 83 |
| V. Conclusion | 86 |
| Francis Snyde: European Community Law and Third World Food Entitlements | 88 |
| I. Introduction | 88 |
| II. Internal Policies with External Consequences | 91 |
| III. The Third Lomé Convention | 97 |
| IV. Other External Relations | 104 |
| V. Concluding Remarks on Law and Policy | 108 |
| Julius Emeka Okolo: ECOWAS Regional Cooperation Regime | 112 |
| I. The Treaty for ECOWAS Cooperation | 112 |
| 1. General Background | 112 |
| 2. Legal-Institutional Issues of the Treaty | 114 |
| a) The Community's Aims and Purposes | 114 |
| b) Membership Rights and Obligations | 118 |
| c) Institutional Structure of the Community | 119 |
| aa) The Authority | 119 |
| bb) Council of Ministers | 120 |
| cc) The Executive Secretariat | 120 |
| dd) The Tribunal of the Community | 122 |
| ee) Technical and Specialized Commissions | 122 |
| ff) Financial Controls | 124 |
| d) Features of Institutional Issues | 125 |
| aa) Free Trade and Common External Tariff | 125 |
| bb) Free Movement of Peoples | 127 |
| cc) Defence Pact | 129 |
| dd) Sectoral Industrial Planning and Related Matters | 131 |
| ee) Institutional Mechanisms and Treaty Implementation | 133 |
| II. Relations with Other Regional and International Bodies | 133 |
| III. The Future of ECOWAS | 135 |
| Jean-Pierre Quéneudec: Les rapports entre zone de pêche et zone économique exclusive | 139 |
| I. Une équivalence relative | 140 |
| 1. Les Droits de L'Etat côtier | 141 |
| 2. Les obligations de L'Etat côtier | 144 |
| 3. La nature des compétences de L'Etat côtier | 147 |
| II. Une assimilation impossible | 148 |
| 1. Les raisons | 149 |
| 2. Les conséquences | 152 |
| Francis Auburn: The Erebus Disaster | 157 |
| I. The Accident | 157 |
| II. The Air Accident Report | 158 |
| III. Royal Commission | 161 |
| IV. Chief Inspector's Comments | 166 |
| V. Civil Aviation Review | 168 |
| VI. Court of Appeal | 169 |
| VII. Privy Council | 176 |
| VIII. New Zealand Litigation | 178 |
| IX. The Mason Case | 184 |
| X. Beattie and Its Implications | 185 |
| XI. Recommendation X-8 | 191 |
| Mechthild Minkner: Central American Integration: Evolution, Experiences and Perspectives | 196 |
| I. Introduction | 196 |
| II. Central American Integration: an Overview | 197 |
| 1. Historical Background, Political and Economic Origins of the Integration Movement | 197 |
| 2. Stages of the Integration Process | 199 |
| a) 1st period (1951–1960) | 199 |
| b) 2nd period (1960–1965) | 200 |
| c) 3rd period (1965–1969) | 200 |
| d) 4th period (1970–1975) | 201 |
| e) 5th period (1975–1980) | 201 |
| f) 6th period: the Post-1979 Crisis | 201 |
| III. The Central American Common Market: a Successful Attempt at Economic Integration? | 203 |
| 1. The Role of ECLA and the United States | 204 |
| 2. Development and Effects of the CACM until 1969 | 205 |
| a) Trade Liberalization and External Tariff | 205 |
| b) Integration Industries | 207 |
| c) Harmonization of Fiscal Incentives | 208 |
| d) Financing of the Integration Process | 208 |
| e) Institutions and Mechanisms for Monetary Policy | 209 |
| f) Organs of the General Treaty | 210 |
| 3. The 1969-Crisis and the Attempts at Reconstruction of the Common Market | 210 |
| 4. The Post-1979 Crisis of the CACM | 215 |
| IV. The Virtual Collapse of the Integration Process: Effect of the Crisis of the 1980s | 216 |
| 1. The Evolution of Regional Trade | 217 |
| 2. Performance of the Industrial Sector | 219 |
| 3. The Situation of the Institutional Framework | 220 |
| 4. The Behaviour of the Public and Private Sectors Toward the Integration Process in Crisis | 222 |
| V. The Attempts at Integrational Restructuring in the '80s | 223 |
| 1. The Common External Tariff and the Fiscal Incentive Systems | 223 |
| 2. Regional Cooperation in the Industrial and Agricultural Sector | 226 |
| a) Industrial Cooperation | 226 |
| b) Cooperation in Agriculture | 228 |
| 3. Legal Aspects and Institutional Framework | 229 |
| VI. Role of the U.S. and Western Europe in Reactivating Integration | 236 |
| 1. The U.S.-Position | 236 |
| 2. Western Europe's Role | 236 |
| VII. Assessment and Perspectives of the CACM and of the Integration Movement | 238 |
| Alexandre Kiss: Nouvelles tendances en droit international de l'environnement | 242 |
| I. La première approche: la protection de l'environnement envisagée en tant que rapport bilatéral entre Etats | 245 |
| II. La globalisation et les transformations de la technique juridique | 253 |
| 1. La globalisation du droit international de l'environnement | 253 |
| a) L'importance croissante des problèmes transversaux | 253 |
| b) De la réglementation transversale à la réglementation globale | 257 |
| 2. Evolution des techniques juridiques | 260 |
| Claudio Grossman: Proposals to Strengthen the Inter-American System of Protection of Human Rights | 265 |
| I. Introduction | 265 |
| II. Outline of the System | 266 |
| 1. Tensions | 266 |
| a) Municipal or International Protection | 266 |
| b) Moral or Legal Obligation | 267 |
| c) Political, Judicial or Semi-Judicial Supervision | 269 |
| 2. Political Forces | 270 |
| III. Accomplishments | 271 |
| IV. Suggestions for Development of the System | 275 |
| 1. Strengthening the Organs | 275 |
| 2. Promotional Activities | 276 |
| 3. Areas of Particular Interest | 277 |
| a) Disappearances | 277 |
| b) Economic, Social and Cultural Rights | 278 |
| c) Direct Representation | 278 |
| d) Emergency Situations | 279 |
| e) Grass Roots Organizations | 279 |
| V. Conclusion | 280 |
| Ernst-Ulrich Petersmann: The Mid-Term Review Agreements of the Uruguay Round and the 1989 Improvements to the GATT Dispute Settlement Procedures | 281 |
| I. The First Two Years of the Uruguay Round | 281 |
| II. The Work of the Negotiating Group on Dispute Settlement up to the Mid-Term Review | 286 |
| III. The 1989 Mid-Term Review Agreements: an Overview | 290 |
| 1. Surveillance of Standstill and Rollback | 290 |
| 2. Tariffs | 292 |
| 3. Non-Tariff-Measures | 292 |
| 4. Natural Resource-Based Products | 293 |
| 5. Textiles and Clothing | 293 |
| 6. Agriculture | 294 |
| 7. Tropical Products | 294 |
| 8. GATT Articles | 295 |
| 9. MTN Agreements and Arrangemen | 295 |
| 10. Safeguards | 296 |
| 11. Subsidies and Countervailing Measures | 297 |
| 12. Trade-Related Aspects of Intellectual Property Rights (TRIPS) Including Trade in Counterfeit Goods | 297 |
| 13. Trade-Related Investment Measures (TRIMS) | 300 |
| 14. Dispute Settlement | 300 |
| 15. Functioning of the GATT System („FOGS“) | 307 |
| a) Trade Policy Review Mechanism | 308 |
| b) Greater Ministerial Involvement in the GATT | 308 |
| c) Increasing the Contribution of the GATT to Achieving Greater Coherence in Global Economic Policy-Making | 308 |
| 16. Group of Negotiations on Services | 309 |
| IV. Outlook: Reciprocity, Globality and the Future of the GATT-MTN System | 311 |
| Annex | 317 |
| P. R. Ghandhi: The Human Rights Committee and Derogation in Public Emergencies | 324 |
| I. The Incidence of Derogation in Public Emergencies | 324 |
| II. The Derogation Clause | 328 |
| III. General Comments under Article 40 (4) of the Covenant | 331 |
| IV. The Jurisprudence under the Right of Individual Communication | 335 |
| V. The Paris Minimum Standards of Human Rights Norms in a State of Emergency | 346 |
| VI. The Siracusa Principles: Derogation Provisions in the Covenan | 351 |
| VII. Conclusions | 358 |
| Ravi Tennekoon: Regulation of London's Financial Markets Under the Financial Services Act 1986 | 363 |
| I. Background | 363 |
| II. „Authorisation“ of Investment Business | 364 |
| III. Extraterritorial Application of Section 3 | 367 |
| IV. Exempt Persons | 369 |
| V. Routes to Authorisation | 371 |
| VI. Enforcement of the Requirement of Authorisation | 371 |
| VII. Advertisements | 372 |
| VIII. Unsolicited Calls | 375 |
| IX. Misleading Statements | 376 |
| X. Market Manipulation and Market Rigging | 376 |
| XI. Client Money | 378 |
| XII. Issues of Securities | 379 |
| XIII. Conduct of Business Rules | 380 |
| XIV. Overall Structure and Conclusions | 382 |
| Volker Röben: Le précédent dans la jurisprudence de la Cour internationale | 383 |
| I. Introduction | 383 |
| II. Régime légal et pratique jurisprudentielle du précédent | 385 |
| III. Essais de concilier régime légal et pratique en matière de précédent | 399 |
| IV. Conclusions | 407 |
| NOTES AND COMMENTS | 409 |
| Otto Kimminich: Anmerkung zu den Entscheidungen des Verfassungsgerichtshofes der Republik Österreich vom 21.6.1988, . 400/87-10 und . 625/87-8 | 409 |
| R. W. Bentham: The Law of Development: International Contracts | 419 |
| I. Introduction | 419 |
| II. The Lawyer's Role | 420 |
| III. The Importance of a Binding Contract | 421 |
| IV. Jurisdiction and Dispute Settlement | 422 |
| V. International Arbitration | 423 |
| VI. Choice of Venue | 424 |
| VII. Applicable Law | 426 |
| VIII. „Stabilisation“ Clauses | 426 |
| IX. Force Majeure and Change: Review Provisions | 430 |
| X. Other Provisions and the Language of the Contract | 432 |
| XI. The Background to International Contracts: Bilateral Treaties | 433 |
| XII. Conclusion | 434 |
| REPORTS | 436 |
| Eva-Maria Schulze und Stefan Schuppert: Die Rechtsprechung des Internationalen Gerichtshofes in den Jahren 1987 und 1988 | 436 |
| I. Fall betreffend bewaffnete Grenz- und grenzüberschreitende Zwischenfälle | 436 |
| A. | 437 |
| B. | 439 |
| II. Fall betreffend bewaffnete Grenz- und grenzüberschreitende Zwischenfälle | 442 |
| III. Fall betreffend militärische und paramilitärische Aktivitäten in und gegen Nicaragua | 442 |
| IV. Fall betreffend Elettronica Sicula S.p.A. (ELSI) | 443 |
| V. Fall betreffend die Grenzstreitigkeit (Burkina Faso/Mali) | 444 |
| VI. Fall betreffend die Land-, Insel- und Seegrenzstreitigkeiten | 444 |
| VII. Antrag auf Überprüfung des Urteils Nr. 333 des Verwaltungsgerichts der Vereinten Nationen | 445 |
| A. | 445 |
| B. | 446 |
| Wulf Hermann: Die Tätigkeit des Nordischen Rates im Jahre 1987 | 451 |
| I. Die Generaldebatte | 452 |
| II. Die Fachausschüsse | 454 |
| 1. Der Wirtschaftsausschuß | 454 |
| 2. Der Kulturausschuß | 458 |
| 3. Der Sozial- und Umweltausschuß | 459 |
| 4. Der Kommunikationsausschuß | 460 |
| 5. Der Rechtsausschuß | 462 |
| 6. Der Haushalts- und Kontrollausschuß | 462 |
| Carsten H. Krage: Die Tätigkeit des Nordischen Rates im Jahre 1988 | 464 |
| I. Die ordentliche Jahrestagung | 464 |
| 1. Die Generaldebatte | 464 |
| 2. Die Fachausschüsse | 467 |
| a) Der Wirtschaftsausschuß | 468 |
| b) Der Sozial- und Umweltausschuß | 470 |
| c) Der Kommunikationsauschuß | 473 |
| d) Der Rechtsausschuß | 474 |
| e) Der Kulturausschuß | 475 |
| f) Der Haushalts- und Kontrollausschuß | 476 |
| II. Die außerordentliche Sitzung | 476 |
| Karen Rickers: Die Tätigkeit des Europarates im Jahre 1988 | 479 |
| I. Organisatorische Fragen | Allgemeines | 479 |
| II. Behandlung allgemeinpolitischer Themen im Europarat | 480 |
| III. Rechtsvereinheitlichung und rechtliche Zusammenarbeit zwischen den Mitgliedstaaten | Verträge und Empfehlungen | 486 |
| IV. Schutz der Menschenrechte | 490 |
| Book Reviews | 502 |
| Books Received | 541 |
| List of Contributors | 543 |
