This Article examines the contribution that international organizations have made in the development of international law in two distinct areas: first, through the exercise of the “enabling authority” that is provided to these organizations under the relevant treaty; second, through the development of soft law in the regulation of domestic financial institutions and markets. With respect to the exercise of enabling authority, a comparative analysis of the United Nations, the International Monetary Fund and the Organization for Economic Cooperation and Development reveals how the charters of these institutions have enabled them to specify the scope of members’ obligations in a dynamic manner; i.e., in a manner that gives them the flexibility to take into account ongoing developments that are relevant to the mandate of these institutions. With respect to the development of soft law, a number of international organizations have taken the lead in designing the international best practices and standards that make up the soft law system in the area of domestic regulation. Moreover, by assessing member countries against these standards, they have also played a critical role in the “enforcement” of these standards and practices.

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