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Book part
Publication date: 1 February 2009

James H. Cassing

A somewhat underappreciated aspect of the burgeoning rush to regional trade agreements (RTAs) is a discrepancy between the dispute settlement procedure (DSP) embodied in…

Abstract

A somewhat underappreciated aspect of the burgeoning rush to regional trade agreements (RTAs) is a discrepancy between the dispute settlement procedure (DSP) embodied in the original World Trade Organization (WTO) Dispute Settlement Understanding (DSU) and that found in the language of many RTAs. This chapter explores the issue in the context of a dynamic repeated game of trade agreements. As is well known, the institutional alternatives available in negotiating multilateral freer trade agreements – regional agreements, side agreements, trade dispute settlement punishments, and so on – can proscribe the limits and shape the nature of self-enforcing trade agreements. Here, we suggest the extent to which deviations from the WTO DSP embodied in RTAs – for example, “private interest access,” “third party procedures,” and “choice of forum” – can not only work against the interests of “weaker parties” but furthermore undermine multilateral agreements closer to free trade.

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Trade Disputes and the Dispute Settlement Understanding of the WTO: An Interdisciplinary Assessment
Type: Book
ISBN: 978-1-84855-206-7

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Article
Publication date: 15 December 2020

Alexis Habiyaremye and Veysel Avsar

This study investigates the impact of trade integration on payment choice in international transactions using data from Turkey, an emerging economy that signed many trade

Abstract

Purpose

This study investigates the impact of trade integration on payment choice in international transactions using data from Turkey, an emerging economy that signed many trade agreements in the last two decades.

Design/methodology/approach

The authors use industry-level trade finance data from Turkey, which reports payment methods in exports at two-digit ISIC level for 180 export destinations. The authors performed linear as well as maximum likelihood techniques to test our hypothesis.

Findings

The authors show that the removal of trade barriers by bilateral free trade agreements leads to more exporter-financed transactions. This implies that lowering trade barriers contributes to reducing risk, which leads to more trade finance by exporters.

Originality/value

Trade finance is the lifeblood of global trade. Although the previous literature have analyzed the institutional and financial factors affecting exporters' decision to extend trade credit, the effect of economic integration has been overlooked. In this regard, this study represents the first attempt to analyze the impact of trade integration on trade finance.

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International Journal of Emerging Markets, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1746-8809

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Article
Publication date: 1 April 2003

Georgios I. Zekos

Aim of the present monograph is the economic analysis of the role of MNEs regarding globalisation and digital economy and in parallel there is a reference and examination…

Abstract

Aim of the present monograph is the economic analysis of the role of MNEs regarding globalisation and digital economy and in parallel there is a reference and examination of some legal aspects concerning MNEs, cyberspace and e‐commerce as the means of expression of the digital economy. The whole effort of the author is focused on the examination of various aspects of MNEs and their impact upon globalisation and vice versa and how and if we are moving towards a global digital economy.

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Managerial Law, vol. 45 no. 1/2
Type: Research Article
ISSN: 0309-0558

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Book part
Publication date: 24 November 2016

Bipin Kumar

The main purpose of this chapter is to explore the role BRICS countries have played in the formation of regional (free) trade agreements. The present chapter tries to…

Abstract

Purpose

The main purpose of this chapter is to explore the role BRICS countries have played in the formation of regional (free) trade agreements. The present chapter tries to understand and document recent developments and directions taken by the BRICS countries either individually or in aligning with each other at the regional and mega-regional levels.

Methodology/approach

The chapter is largely empirical and descriptive to analyse the recent RTAs policies of the BRICS countries.

Findings

This chapter provides in particular as assessment of the impact on BRICS countries of the three recent Mega-RTAs; that is TPP, TPIP and RCEP. For this purpose, an attempt had been made to find out the commonalties and divergences in the RTAs policies of the BRICS countries.

Design

The chapter is divided into six sections. After a brief introduction, the second section deals with the reasons for countries entering into RTAs. The third section documents the directions of the current negotiations on Mega-RTAs and its (potential) geographical implications for the BRICS countries. The fourth and the fifth sections deal with the current status of these RTAs and their noticeable impact on the response of the BRICS countries. The final section concludes the research with suggestions and recommendations.

Originality/value

RTAs and Mega-RTAs frameworks have been useful for BRICS countries. This recent development in trade negotiations can be regarded as promising for them.

Details

The Challenge of Bric Multinationals
Type: Book
ISBN: 978-1-78635-350-4

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Book part
Publication date: 11 August 2020

Phil Mullan

Abstract

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Beyond Confrontation: Globalists, Nationalists and Their Discontents
Type: Book
ISBN: 978-1-83982-560-6

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Article
Publication date: 12 January 2003

M. Rafiqul Islam

The subject‐matter of this article is the recently altered trade policy and practice of Australia and their consistency with the WTO multilateral trading policies and…

Abstract

The subject‐matter of this article is the recently altered trade policy and practice of Australia and their consistency with the WTO multilateral trading policies and principles. Following its unhappy experience with the power and politics driven trading under GATT, Australia unequivocally supported the legalistic approach of the WTO trading system during the Uruguay Round. Its active participation in the WTO has given it a fair share of global free trade. The rule‐based trading framework of the WTO protects, more often than not, Australia from powerful trading states and blocs using their economic clout to gain unfair terms of trade. Australia has recently opted to pursue its multi‐track trading together with its commitments to WTO multilaterial trade liberalization. Since 2002, it has been negotiating a preferential bilateral free trade agreement with its preferred trading partners. The flurry of such negotiations has resulted in the conclusion of a preferential bilateral free trade agreement with Singapore in 2003. Negotiation towards a similar agreement with the U.S. is ongoing. A preferential trade agreement (PTA) is by nature discriminatory and as such inconsistent with the Most Favoured Nation (MFN) rule under GATT Article I. Despite this apparent contradiction, GATT Article XXIV permits bilateral PTAs as an exception to the MFN rule under certain explicit conditions, which militate against discriminatory, differential and unequal trading deals among WTO members. This article examines the extent to which the existing and potential PTAs of Australia comply with the conditions of GATT Article XXIV. It concludes that these PTAs are not complementary, if not obstructive alternatives, to the WTO multilateral free trading system. They are not in the best long‐term trading interest of Australia either.

Details

Journal of International Trade Law and Policy, vol. 2 no. 2
Type: Research Article
ISSN: 1477-0024

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Book part
Publication date: 30 June 2004

Jonathan P Doh and Barbara Kotschwar

Civil society, as represented by non-governmental organizations (NGOs), is exerting increasing pressure on national governments, multinational corporations, and…

Abstract

Civil society, as represented by non-governmental organizations (NGOs), is exerting increasing pressure on national governments, multinational corporations, and international institutions. In this chapter we document the evolution of participation by civil society and NGOs in Western Hemisphere economic integration, focusing particularly on the NGO role in three important trade and investment agreements: the U.S.-Canada Free Trade Agreement, the North American Free Trade Agreement, and the Free Trade Area of the Americas process. We find that NGOs are having increasing influence on the trade and investment agreements in the Hemisphere, and are poised to take on a major role in multilateral negotiations and agreements.

Details

North American Economic and Financial Integration
Type: Book
ISBN: 978-0-76231-094-4

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Article
Publication date: 17 June 2019

Meredith B. Lilly

Labour mobility is increasingly recognized as an important component of a globalized international trading system. This paper aims to examine the role of temporary entry…

Abstract

Purpose

Labour mobility is increasingly recognized as an important component of a globalized international trading system. This paper aims to examine the role of temporary entry commitments in international trade agreements toward facilitating global labour mobility.

Design/methodology/approach

This paper traces three decades of temporary entry provisions in international trade agreements signed by the USA and Canada, beginning with their bilateral Canada–US Free Trade Agreement and culminating in the Trans-Pacific Partnership (TPP).

Findings

The paper finds that while many countries have continued to liberalize their temporary entry commitments in various trade agreements, the USA has reversed course in the previous decade, hampering international progress. Meanwhile, Canada has pursued ever greater labour mobility provisions with most of its trading partners.

Practical implications

The unique roles played by the USA, Canada and other trading partners in advancing a coherent international labour mobility agenda are considered. To continue to advance labour mobility in trade agreements moving forward, policy alternatives to the “all” or “nothing” approaches pursued by Canada and the USA are suggested.

Originality/value

To the author’s knowledge, this paper is the first to formally evaluate labour mobility in the TPP and the only paper to outline the evolution of temporary entry in the US vs Canadian trade agreements over three decades.

Details

Journal of International Trade Law and Policy, vol. 18 no. 2
Type: Research Article
ISSN: 1477-0024

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Article
Publication date: 1 October 2018

Lubna Uzair and Ahmad Nawaz

This paper aims to empirically examine the trade creation and diversion impacts on merchandise imports of Pakistan under the Pakistan–China Free Trade Agreement (FTA). The…

Abstract

Purpose

This paper aims to empirically examine the trade creation and diversion impacts on merchandise imports of Pakistan under the Pakistan–China Free Trade Agreement (FTA). The analysis of Pakistan’s preferential treatment with its largest trade partner as well as the most substantial exporter of the world will help to shape trade policy, open windows for academic research and also gives an immense contribution in literature.

Design/methodology/approach

A disaggregated panel data on the imports of Pakistan from China and other WTO member countries and tariff concessions at Harmonized System (HS) two-digit level used for the agreement period of 2006-2012. The empirical analysis takes care of bias through robust and panel-corrected standard errors with time, industry-specific effects and controlling for multilateral trade resistance.

Findings

Evidence found in support of trade creation under the Pakistan–China FTA. It means overall this agreement increased the welfare of Pakistani consumers.

Practical implications

Findings are in favour of negotiations and signing for the next round of this agreement and with other major trade partners like the US and Saudi Arabia.

Originality/value

It is worth investigating empirically the impact of preferential trade liberalization between Pakistan – a developing country – and China – the largest importer of the world – explicitly, in the form of trade creation or diversion. The empirical assessment of this FTA signed with the world’s largest exporter will not only contribute immensely to the literature but also help in trade policy formulation and open windows for academic research. Another unique aspect of this study is the use of disaggregated data consisting of all goods imports along with tariff concessions at two-digit Harmonized System (HS) code.

Details

Journal of Chinese Economic and Foreign Trade Studies, vol. 11 no. 3
Type: Research Article
ISSN: 1754-4408

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Article
Publication date: 17 September 2018

Regis Simo

The purpose of this paper is to show how the pattern of trade relations between the USA and African countries is gradually shifting toward reciprocity. It therefore…

Abstract

Purpose

The purpose of this paper is to show how the pattern of trade relations between the USA and African countries is gradually shifting toward reciprocity. It therefore demonstrates that the African Growth and Opportunity Act (AGOA) was conceived to be a building block toward future bilateral trade agreements.

Design/methodology/approach

This paper adopts a historical approach to the USA’s policy toward Africa in general and in trade matters in particular. It critically reviews the chronology of US involvement in the continent.

Findings

Although it was designed as a preferential trade arrangement, AGOA was intended to evolve into reciprocal trade agreements. This is what the USA started doing even prior to the entry into force of the AGOA, by entering into Trade and Investment Framework Agreements with individual countries or blocs. It also transpires that the deployment comes as a response to the European Union which is already engaged in the redefinition of its own trade relations with Africa since 2004.

Originality/value

The paper is important in many respects. Not only it is a study of the US practice as preference-granting country, but it is also interested in the typology of trade agreements concluded by the USA in other regions of the world. This is important to indicate and analyze the types of provisions African countries should be expected to face when the time of entering into reciprocal binding trade treaties arrives.

Details

Journal of International Trade Law and Policy, vol. 17 no. 3
Type: Research Article
ISSN: 1477-0024

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