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The objective of the study is to determine if an over-borrowing bias emerges when the state fiscal base is shared by multiple general-purpose and special-purpose jurisdictions serving different groups of citizens.

This study uses panel data from all 50 states in the US from 1997 to 2007 to estimate models of total debt levels of state governments and total debt levels of all local governments aggregated at the state level. For comparison, it also estimates total debt levels of state and local governments taken together for the same years.

This study finds that jurisdictional overlap will increase state government debt, local government debt, as well as combined state and local government debt.

The finding from the study suggests that the fiscal common-pool model provides a more accurate analysis and more appropriate understanding of the institutional composition at the state and local public sector, especially for the vertical dimension of the local public sector where there are more specialized and overlapping jurisdictions.

The purpose of this paper is to seek to establish an effective governance framework for waqf (Islamic endowment) in the Republic of Guinea that would assist in enhancing socio-economic activities and eradicating poverty in the country.

It examines key governing features within the said country’s waqf legal framework and undertakes a comparison with other countries’ legal frameworks. This paper also examines waqf-related legal references of Guinea and other countries and analyses relevant online sources such as journal articles, research papers, webpages as well as informal discussions with persons informed on the subject matter within and outside the Republic of Guinea.

This paper identifies a number of prevailing issues affecting the development of the institution of waqf in the Republic of Guinea and, thereafter, proposes key reformatory measures. These include the passing of general codified legislation that comprehensively governs waqf affairs in the country and the setting up of a dedicated supervisory entity and competent managerial bodies to ensure the smooth and effective operation of the institution in the country.

This research proposes an innovative and befitting governance framework for waqf operations in the Republic of Guinea. These recommendations, if correctly adopted, would ensure the viability and efficacy of the institution of waqf in the Republic of Guinea and would lead to socio-economic development, as has been the case in other nations. Moreover, other countries with underdeveloped waqf governance systems could also model their waqf operations based on these recommendations, as they are most likely already encountering or going to encounter identical issues in this particular field.

The purpose of this paper is to examine the effect of adopting certified food production on chemical fertilizer and pesticide use in China.

The authors estimate fixed effect models to track the changes in agrochemical consumption at household level over time and evaluate the effect of certified food production, using an unbalanced panel data set covering 4,830 households in six provinces over the period 2005–2013.

On average, the authors do not find significant effects of certified food production on either chemical fertilizer or pesticide consumption among Chinese farmers. The effects are heterogeneous across villages, but the heterogeneous effects show no clear pattern that is consistent with different types of certification. The findings are robust to the use of alternative panel structure and certification indicators. The lack of knowledge about certification among farmers, the price premium and differences in regulation enforcement across regions may explain why the authors do not find negative effects on agrochemical use.

This study suggests that careful inspections and strong enforcement of certified food production is needed to ensure that the environmental goals of certified food production can be achieved and the reputation of certification in China can be improved. The inspection of certification producers and the enforcement of current regulations should be stricter for the further healthy development of certified food production in China.

This study is the first attempt to systematically evaluate the impact of food certification on the use of agrochemicals in Chinese agriculture.

Various countries have recently passed anti‐corruption and bribery laws that have international jurisdictional reach. The overlapping jurisdiction of these “long arm” statutes presents the real possibility that an offender can be twice prosecuted for the same conduct, as recently demonstrated in the case of US v. Jeong. The purpose of this paper is to highlight the difference of approach between various nations in their understanding and application of the doctrine of international double jeopardy.

This paper explores the profound divergence in the application of the doctrine of double jeopardy in an international context, primarily by comparing and contrasting two representative jurisdictions on the subject, Canada and the USA.

The dividing line between the approach to international double jeopardy by common law nations is the doctrine of dual sovereignty. Jurisdictions which have not adopted the dual sovereignty doctrine (such as Canada) are more likely to view a prior verdict from a foreign court as a bar any further prosecution for the same offence; by contrast, countries that have adopted the dual sovereignty doctrine (such as the UA) are less likely to view a previous foreign conviction or acquittal as a bar to further prosecution.

In negotiating a global settlement for acts of corruption or bribery, no finality can be achieved unless and until a resolution is reached with dual sovereignty jurisdictions.

This paper is of value to any individual or multi‐national concern that operates in more than one jurisdiction, as it outlines the potential dangers associated with reaching a premature global settlement for acts of bribery and corruption.

This paper aims to explore the role of public and private international law and how they are used differently in regulation of global markets. Data were sourced from both primary and secondary materials – journal papers, court decisions, textbooks and international legal instruments to gain insights into the role of law and the varied contexts in which it is used in regulation of markets. In an ordinary sense of the word, law sets operational limits to protect normative values and practices in a state – trade, peace, security, just to mention but a few. However, law cannot be confined to deterring undesired behaviours or to settling disputes, but more importantly, a good law should prevent disputes from happening. Law dictates the way of life of a society and its efficacy often depends on how well it is used to order the proper functioning of the system. International law is the set of rules which govern and foster effective relations of states. The paper explores the chasm between public and private international law, with a view to demonstrate how they are used differently in regulation of markets. Public and private international law encompass norms evolved by multilateral treaties, customs, judicial decisions, model laws and soft law instruments by different oversight bodies governing states and other stakeholders in their relationship with each other. These norms/rules create a platform for interstate cooperation on varied regulatory issues of shared interests. While treaties create a uniform framework of rules in all signatory states, their implementation often depends on individual states willingness to transpose them into national law. Owing to the inherent challenges of public international law (interstate practice), it has become imperative for markets to use rules of private international law. While public regulates the relationship of states and their emanation, private international law helps to bridge gaps in the mainstream international legal systems of states and in so doing enhances their co-existence on overlapping regulatory issues. The engendered trans-national norms will over time generate a positive impact on local sustainability and co-existence of different regulatory domains.

This paper uses cases studies and experiences of countries to demonstrate the complimentary relationship of public and private international law and how they work in tandem in international legal practice. The paper has also used the varied experiences of states to demonstrate how public and private international law interact in regulation of global markets. Data were sourced from both primary and secondary sources – journal papers, court decisions, textbooks and international legal instruments – to gain insights into the law and the varied contexts in regulation of markets. The case law and experience of states alluded to undertaking this research reflect the complimentary relationship of states for markets to operate effectively.

The findings of the paper comport with the hypothesis that markets cannot effectively work unless they are pursued within the framework of rules of public and private international law. The paper has alluded to the experience in national jurisdictions and global to highlight the chasm between different regulatory domains for markets to operate effectively. The paper articulates important practical issues relating to public and private international law in regulations of markets.

The practical implication of the paper is that it underscores significant legal issues relating to regulation of markets drawing examples within national jurisdictions and globally.

The paper has social implications because markets affect people, jobs and social life in varied ways. It addresses pertinent issues related to the complementarity of public and private international law and how they are manifested in national jurisdictions.

The paper is original because it nuances the interrelationship of public and private international law, teasing out their interaction in regulation of global markets in a distinctive way.

This paper aims to assess the performance of achieving the targets of Sustainable Development Goals (SDGs) by aligning with the recent initiatives taken by different ministries and divisions in Bangladesh. It also examines the institutional challenges associated with the implementation of SDGs.

Both primary and secondary data were analysed by applying different techniques. The initiatives taken by various ministries and divisions of Bangladesh resonated partially with 84 targets of SDGs.

Ambiguous mandates of different ministries and divisions have caused overlapping jurisdiction, followed by conflicts of interest and lack of cohesion. Inaccurate stakeholder analysis, data unavailability, lack of competency and accountability, and a top-down policy approach can be considered as the major institutional bottlenecks in achieving SDGs.

This paper advocates revising the map to incorporate the right stakeholders to avoid erroneous monitoring, evaluation, and finally, inaccurate reporting. The reallocation of business for ministries and divisions is warranted to abolish jurisdictional overlapping and conflict of interests and make SDGs friendly. Despite the COVID-19 pandemic recession, Bangladesh may be able to multiply its achievement with the same resources and efforts by addressing those drawbacks.

The Tax Increment Financing (TIF) method has achieved widespread popularity as a funding source to finance local infrastructure investments and improvements. However, little research has been conducted to evaluate the effectiveness of such programs. This study undertakes a regression analysis to examine the effects of the municipal adoption of TIF programs on local economic development. The empirical results suggest that the adoption of TIF programs has a significant positive effect on local employment.

The purpose of the paper is to examine the law and how it has been utilised in fostering proper functioning of global markets within member countries and globally. The term “law” in this context refers to international law, whose primary function is to regulate activities of sovereign States and organisations created by a group of States. The Statute of the International Court of Justice 1907, which has been ratified as a treaty by all UN nations, provides the most authoritative definition of the sources of international law to date (Schachter, 1991). Under Article 38 of Statute of the International Court of Justice 1907, there four main sources of international law such as treaties, international customs, general principles of law recognised by civilised nations and judicial decisions of International Court of Justice and other internationally accepted tribunals. They are the materials and processes out of which the rules and principles regulating the international community are developed and sustained. The term “global Village” was coined by a Canadian scholar by the name of Marshall McLuhan to describe the contraction of the globe into a village because of advances in internet communication technology and increased consciousness and enhanced transport systems (McLuhan, 2003). The current “global village” is manifested by the growing interconnectedness of economies which has enhanced the ability of states to interact economically, politically and socially. It operates in a way that seems to defy common definitions such as delimitations of national borders and states. The global system has created shared synergies such as free movement of workers, capital, good and services. However, it has created varied challenges for individual states given that challenges in one part of the globe can easily navigate into the system to infest other countries including those that have nothing to do with its causes. This dichotomy is highlighted by the debt crisis in the Eurozone member countries which has been simmering since 2009 but has recently bubbled to the surface by the crisis in Greece. The challenges in Greece as well in other deeply integrated countries have not been confined within individual countries or regions but have had a domino effect farther afield due to the growing interconnectedness of economies. There are dualities in the global system manifested by the fact that developed countries are endowed with the means, and, therefore, they have requisite capacity to harness the law and markets easily as opposed to their counterparts in least developed countries (LDCs), where this leverage is non-existent. Less-developed economies are so described because they lack requisite capacity and cannot compete as efficiently as their counterpart in developed countries. This has translated into ambivalence and half-heartedness in some states attitude to embrace market discipline wholeheartedly. The foregoing challenges have been exacerbated by the tenuous legal systems, lack of robust infrastructure, oversight institutions and corruption, especially in the LDCs cohort. The paper utilises empirical data to evaluate the role of law in fostering the relationship between states and markets. In other words, are the rules governing global markets effectively working to ensure a harmonious co-existence of markets, states and various stakeholders? Can the recent global crises such as the debt crisis in Greece mean that the global village is in quandary? Is there any village that is devoid of challenges or they are part and parcel of life? The paper utilises empirical examples in both developed and developing countries to evaluate the current state of the contemporary global village in search for answers to the foregoing nagging questions.

The paper adopts a selective review approach in analysing the most appropriate materials for inclusion in its analysis. It is an empirical study based on the most recent global developments such as the global financial crisis, the debt crisis in European Union (EU) to gains insights into the interplay of the relationship between law and markets and the occasional disharmony between these two regulatory domains.

The issues examined in this paper provide significant insights into the dynamics of the global village, law and markets. It has delineated that for markets to work effectively, the state needs to remain in the loop and to keep an arm’s length relationship with the market because it will have to come in to pick the pieces when things go wrong. The law cannot be pushed to the sidelines because it will have to provide the instruments for states and markets to operate efficiently within their respective regulatory domain. There is no state, including North Korea (not as open as other economies in Asia), which can close its door entirely to markets. Experience has demonstrated that law is more than rules which govern societies but a way of life such that a society is as developed as is its legal system. The State needs to use the leverage of the law and to take centre stage for markets to remain viable and relevant. Recent crises such as the debt crisis in Greece or the global financial crisis before provide lessons for proponents of the global market system to learn so that it can proportionately distribute benefits and not challenges.

The global market system has imposed varied challenges on states at the scale never envisaged before. Some of the theoretical premises relating to the paper were based on secondary data sources and were evaluated based on a small sample of cases. The author, therefore, extrapolated that the law seems to have been relegated to the sidelines to not interfere with markets. The paper has evaluated the current global market system in the context of contemporary challenges in Europe and in other regions; it would have been better to explore examples from other regions. It is evident that the state and the market are two sides of the same coin – they are embedded in each other, and their relationship complimentary and will have to co-exist. They need to work in tandem because the market needs the state and the state needs the market. Meanwhile, both the state and the market need the law as an equalizer to ensure they are regulated according to engendered rules. It appears that the disharmony between the state and the market is because of the fusion of law and politics which often results in overlapping interests. The recent global financial crisis and the frantic efforts of EU government to bail out debt distressed countries like Greece have implied that governments will need to maintain an arms-length relationship with markets. When the state lets its hands off, literally speaking, in the author’s view, markets will veer off course.

The global system has created shared synergies such as free movement of workers, capital, good and services. However, it has created varied challenges for individual states given that challenges in one part of the globe can easily navigate into the system to infest other countries including those that have nothing to do with its causes. States and stakeholders will need to carefully evaluate the impact of global regulatory initiatives to make sure that in adopting them, they are not debased or undermined by those initiatives.

For markets to work properly, the state must remain in the loop and keep an arms-length relationship with the market because it will have to come in to pick the pieces when things go wrong. The law cannot be pushed to the sidelines because it will have to provide the instruments for states and markets to operate efficiently within their respective regulatory domain. There is no state, including North Korea (not as open as other economies in Asia), which can close its door entirely to markets. Experience has demonstrated that law is more than rules which govern societies but a way of life such that a society is as developed as is its legal system. The State needs to use the leverage of the law in providing effective regulatory oversight of markets both domestically and globally.

The paper was written on the basis of recent global crises such as the debt crisis in Greece, Europe, which were evaluated in the narrow context and are objectives of the paper.

The purpose of this paper is to show that the internet together with cyberspace form an “everywhere and nowhere proposition” and to discuss numerous problems concerning legal issues, the most vital being confusion as to jurisdiction.

The research was based upon theoretical sources and empirical data.

It was found that a probable solution could be extracted from the US experience for all the nations coming under the virtual framework of cyberspace. Some hi‐tech nations are facing this problem; and the USA is one of them. Even the USA – a large federal state – faces the jurisdictional problem and conflict as regards its own provinces; and the US courts, legal institutions and intellectuals are resorting to established principles of law – domestic or international. Decisions of US cases have been keenly observed to find out how the US courts and legal scholars have taken the help of traditional territorial tenets and precepts to resolve jurisdictional conflict. In many cases, US courts and legal scholars have shown their interest to adopt personal jurisdiction.

With the USA being a representative type of hi‐tech nation, US attitude and practice could usher the way for all other upcoming hi‐tech nations.

The purpose of the paper was to examine the challenges inherent in harnessing the UN and other AML counter‐measures, paying particular attention to the United Nations Resolutions on countering financing of terrorism and why the UN Security Resolutions have not been easy to invoke. As regards other AML counter‐measures, the paper examined the legal status of soft law instruments, articulating the possible reasons why they are easy to implement.

The paper was written by the analysis of UN and other AML counter‐measures – which were evaluated in the gaze of how they have been implemented across states. While states are under an obligation to implement UN AML counter‐measures such as international treaties and soft law instruments, private banks as non‐state actors have exploited some loopholes in the law to flaunt them. This has undermined the efficacy of global AML counter‐measures. Many banks have been fined for violating UN sanctions on countries like Iran and Sudan. These examples were utilized in appraising the current UN and other AML counter‐measures across states.

The findings of the paper were compelling in demonstrating that global anti‐money laundering laws are often emasculated by the fact that they are implemented in the realm of international law. International law manifests itself within independent member states' vested strategic self‐interests. In the event of conflicts, national self‐interests will prevail. But again, money laundering is an opportunistic crime because it generates both synergies and externalities and the response of individual states often depends on how it is affected by it. It is wrong to assume as doing things in the realm of international law is not as easy as it is presumed to be.

It would have been better to carry out interviews so as to corroborate secondary data sources used in writing this paper. But due to some constraints, this option was not possible. It would also have been better to undertake the analysis of data based on a large sample of countries rather than cherry picking. While implementing AML counter‐measures in the realm of international law is necessary to foster international co‐operation, there are still some loopholes that need to be paid more attention.

The paper was written, analysed and evaluated based on the most recent literature on implementation of UN and other AML counter‐measures across countries. It also utilized the recent cases involving violations of UN AML counter‐measures by banks on sanctioned countries such as Iran and Sudan.