Examining local content law and policy in the oil and gas industry, this book uses Nigeria as a primary case study, comparing its approach to countries such as Brazil and Norway which have also adopted local content laws in relation to their gas and oil industries. In considering various aspects of local content law and policy as they apply to the oil and gas industry, the book examines the factors behind the formulation of local content policies by petroleum producing states, and the various strategies they have employed to implement them. It analyses arguments against local content requirements from the perspective of international trade and investment law, and from liberal market economic theorists, who argue against its overall usefulness. The book highlights salient aspects of the oil and gas industry such as regulation, national oil companies, treatment of minorities, and policy formulation and implementation.

This book offers a comprehensive examination of preferential trade agreements and considers the features of specific regional and bilateral trade agreements without drawing upon systematic features and trends. It shows the latest state of knowledge on the topic and will be of value to those interested in international trade and economic law.

This book presents original research that examines the growth of international investment agreements as a means to attract foreign direct investment (FDI) and considers how this affects the ability of capital-importing countries to pursue their development goals. The hope of countries signing such treaties is that foreign capital will accelerate transfers of technologies, create employment, and benefit the local economy through various types of linkages. But do international investment agreements in fact succeed in attracting foreign direct investment? And if so, are the sovereignty costs involved worth paying? In particular, are these costs such that they risk undermining the very purpose of attracting investors, which is to promote human development in the host country? This book uses both economic and legal analysis to answer these questions that have become central to discussions on the impact of economic globalization on human rights and human development. It explains the dangers of developing countries being tempted to 'signal' their willingness to attract investors by providing far-reaching protections to investors' rights that would annul, or at least seriously diminish, the benefits they have a right to expect from the arrival of FDI. It examines a variety of tools that could be used, by capital-exporting countries and by capital-importing countries alike, to ensure that FDI works for development, and that international investment agreements contribute to that end. This uniquely interdisciplinary study, located at the intersection of development economics, international investment law, and international human rights is written in an accessible language, and should attract the attention of anyone who cares about the role of private investment in supporting the efforts of poor countries to climb up the development ladder.

Trade Policy in Developing Countries is a research treatise aimed at academics, graduate students and professional, policy-oriented economists. It is the first work in the field to analyze trade policy in an integrated theoretical framework based on optimizing dynamic models that pay careful attention to the structural features of developing country economies. Following a thorough critique of the debate on inward- vs. outward-oriented trade regimes, Buffie examines the main issues of concern to less developed countries in the areas of optimal commercial policy, trade liberalization and direct foreign investment.

Avinash Dixit and Joseph Stiglitz revolutionized the modelling of imperfectly competitive markets and launched "the second monopolistic competition revolution". Experts in the areas of macroeconomics, international trade theory, economic geography, and international growth theory examine the success of the second revolution in this collection of papers. They reveal what appears to be "missing" and look forward to the next step in the modelling of imperfectly competitive markets. The text includes a comprehensive survey of the two monopolistic competition revolutions, and previously unpublished working papers by Dixit and Stiglitz that led to their famous 1977 paper.

The coronavirus epidemic, which swept the whole world at the beginning of 2020 and turned into a widespread pandemic, has caused an important economic and social crisis. Governments and policy makers have tried to keep business life afloat with financial incentives and supports, government aids to combat the epidemic. The habits of doing business with remote working, flexible working, social media and internet use and online systems have been heavily used. After the Great Depression, the COVID epidemic caused serious contraction on the global economy. Therefore, it is important to examine the effects of this crisis by experts. With this book, the effects of the COVID crisis on different fields have been examined in detail by experts from different disciplines. We hope that this book will make significant contributions to researchers and scientists.

Originally published in 1981, this book provided an up-to-date and critical review of the recent history and current status of the main economic institutions affecting international trade and relations at the time. The authors emphasise the economic effectiveness or otherwise of such bodies as GATT, IMF, EEC, UNCTAD and the World Bank, but take account of the political factors present in both the initial 'design' and in the way that the institutions have developed. In particular, the book analyses the changed degree of dominance which the USA had been able to exert on the international community.

Do countries benefit from their Membership in the WTO? This book addresses this question and examines the role of the WTO in the process of economic development of emerging markets and other developing countries.

This is a new volume in the "Frontiers in Economics & Globalization" series. This book deals with a wide-range of trade and development issues in terms of well-known general equilibrium structure. This volume shows how neo-classical models of trade theory can be used to highlight many challenging contemporary global problems. This book is a new volume in the "Frontiers in Economics & Globalization" series. It deals with a wide-range of trade and development issues. It focuses on neo-classical models of trade theory to highlight the challenges of global trade problems.

Global Finance in the 21st Century: Stability and Sustainability in a Fragmenting World explains finance and its regulation after the global financial crisis. The book introduces non-finance scholars into the wider debate regarding the conduct and regulation of finance to encourage broader discussion on important societal issues that relate to finance. The book also explores the ineffectiveness of the current approach to global prudential governance and places this discussion within the more expansive context of global governance and nationalism in the twenty-first century. The book argues that fragmentation and the growing trend of promoting informality and voluntarism has facilitated a return to nationalism as a primary form of global governance that acts contrary to post-crisis reforms that seek to promote stability and sustainability in the conduct of finance. As a remedy, Kourabas suggests that we need more, not less, of what we have traditionally conceived as international law - treaties and treaty-based international organisations. In the field of finance, this means not only pursuing financial liberalisation through free trade and investment treaties, but also the inclusion of provisions in these treaties that promotes systemic financial stability and sustainable development objectives. Of interest to legal and non-legal academics and students, legal professionals and policy-makers, this book offers a nuanced defence of international law as an approach to global governance in finance and beyond, as well as reform of international law to meet the needs of twenty-first century society.

This book provides a thorough and rigorous discussion on the impact of trade liberalisation on economic development with a special focus on the African continent. The author presents the rationale for trade liberalisation, trade liberalisation frameworks, the trade liberalisation economic development nexus, impediments to trade, and contemporary issues of international trade. In this book, notwithstanding the benefits from trade liberalisation, the author shows that African trade as a share of global trade has remained flat at 3% as in 1975, while the continent's exports have remained raw materials and its intra-regional trade at less than 15% of total trade, which is the lowest in the world (UNCTAD, 2020). With respect to key economic development indicators such as economic growth, poverty levels, and employment levels, this book shows that, ironically and in direct contrast with the conventional views that trade liberalisation alleviates poverty, trade liberalisation in Africa has resulted in high levels of unemployment and low economic growth which ultimately lead to increased poverty. In addition, this book provides a detailed analysis of why trade liberalisation has failed to yield meaningful benefits to Africa. The binding constraints and blockages which prevent positive spin-offs on trade liberalisation in Africa are discussed in detail in this book. In the same vein, the author provides practical strategies which must be adopted by African countries in order to gain from trade liberalisation, making this work a must-read for African governments, academia, trade experts, regional trading blocs, the World Trade Organization, and development partners. In view of this, and as part of the disruptive and structural transformation policies, the author discusses case studies and international experience contextualised to Africa as well as strategies for addressing the trade-related infrastructure gap, production capacities, export promotion, and aid for trade.

This volume fills a gap in the literature regarding questions around the interactive dynamics between law and diplomacy on international trade and investment. It brings together lawyers and political scientists from Europe and Asia in an interdisciplinary effort at tracing the respective roles of law and diplomacy in the relations of the European Union (EU) with its trade and investment partners in Asia. Focusing on trade and investment relations with Asia, the EU presents a particularly interesting case as it has been a strong proponent of a rules-based international economic order for years and a frequent user of the formal procedures established in international treaties in case of disputes. At the same time, it has kept diplomatically active to adjust dispute management and international agreements to the needs and demands of the partners involved. Furthermore, not only is this region of crucial importance due to the presence of both vigorous emerging economies, like China, India and Vietnam, and more established partners, like Japan, EU-Asia relations also present a broad set of economic disputes and recent negotiation efforts analyzed in the contributions to this volume. This book will be of key interest to scholars and students of international trade/economic law, EU politics, EU external relations (law), international relations, diplomacy and more broadly to international relations and Asian studies.

Economists have long argued that dynamic effects of policy changes are much more important in the real world than static effects, but this is not reflected in the majority of applied trade studies. This book departs from mainstream trade modeling and examines the dynamic aspects of international trade and investment policy by explicitly specifying dynamic mechanisms in a wide range of modeling approaches. With contributions from leading economists Dynamic Issues In Commercial Policy Analysis will become a standard reference in international trade and policy research.

Lombardy, with about 10 million inhabitants, is today the most populated and prosperous region of Italy, and Milan is a renowned capital of art, fashion and design. During the 19th century until WWI, the region gradually became the leader in Italy's economic development and distinguished itself in the European economic landscape for its long-standing industrial strength and diversified economy, which included one of the Europe's most productive agricultural systems. It was the economic locomotive of contemporary Italy, contributing to the economic Risorgimento that complemented the country's political resurgence. The present volume gathers the contributions of some major experts on the subject, providing an in-depth analysis of Lombardy's pattern of development, consisting of an exceptionally symbiotic and balanced interplay of sectors (agriculture, industry, trade, and banking) in a gradual yet steady growth process, also supported by progress in the education system. During the century, there was a shift away from an economy based on agriculture and commerce to a progressively more industrial economy and this process accelerated from the 1880s. The secret of this dynamic balance was Lombardy's active relationship with the rest of Europe and with the international markets. Aimed at scholars, researchers and students in the fields of early modern and modern history, economic and social history, the book provides a clear explanation of Lombardy's economic development during the long 19th Century.

In this much-needed book, Graham Dunkley challenges the oft-repeated notion that free trade and global integration are the best means of development for all nations at all times - an idea that has proved even more misguided in the wake of the global financial crisis. By contrast, Dunkley reveals - through a wide range of statistical analysis and case studies - that at best the evidence is mixed. Looking systematically at issues such as trade-led growth, supply chains and financialization, One World Mania reveals the many problems that over-globalization has caused, often at great human cost. An indispensible guide for anyone wishing to understand the shortcomings of current global economic policies.

This book examines the evolution of trade and trade patterns in Central and Eastern European countries (CEEC) and assesses the implications of these patterns on structural change and economic development within transition economies. Taking the fall of the Iron Curtain in 1989 as a starting point, the authors discuss the transition of former communist CEE countries from centrally planned to market-driven economies, arguing that trade was the primary engine for the economic growth and transition process they experienced. The chapters in this book incorporate the results of previous studies - some of which are based on original research conducted by the authors - dedicated to the integration process of international and European trade. More importantly, the authors look at the broader aspects of structural change and economic development, indeed the whole process of economic transformation. Thus, the book moves well beyond the core 'trade and growth' framework to look at technological progress, foreign investment, institutional development and structural change in Central and Eastern European countries.

This book explores structural changes in Greenland's economy and labour markets due to the transformative effects of climatic changes and growing international attention. It offers multidisciplinary perspectives from economists, sociologists, and political scientists to demonstrate how the Greenlandic economy works. Due to an increasing focus on the Arctic area and Greenland in particular, the book seeks to understand the functioning and dynamics of Greenland's labour economy, as well as the challenges that arise from the melting ice and internationalisation. It fills a substantive gap in the existing literature by compiling research on these critical subjects and exploring current and future opportunities for labourers. Today, Greenland is reliant on large financial subsidies from Denmark to provide for a large share of its national budget. This fuels Greenland's political ambition to gain greater independence from Denmark, which requires more private sector growth to develop a sustainable economy. This book thus contains an exhaustive introduction to important business development themes such as macroeconomics, markets, labour supply, labour market policies, and institutions and considers Greenland's colonial past, great Inuit heritage, and unique geography and nature to re-shape its economy and labour markets. Informed by a lucid writing style, each chapter casts light on different economic and social issues of Greenland. This is the first international book on Greenland's economy which discusses its geopolitical importance and prospects for the Arctic region. It will be a valuable point of reference for students and academics of economics, Arctic research and political economy.

This book provides the reader with a better understanding of the One Belt One Road (OBOR) initiative, its various projects around the world, and its consequences at a local as well as an international level. Background information on both Chinese and Greek sociopolitical history and their maritime industry is provided. The book also provides readers with the opinions of people directly involved with the Piraeus Port-China Ocean Shipping (Group) Company (COSCO) deal through interviews conducted and included in the book. OBOR, a signature initiative of Chinese President Xi Jinping, is currently one of the most frequently discussed enterprises worldwide. This controversial mix of worldwide projects has put both China and Xi at the center of attention, and not in a positive way. Of course, not all projects included in the initiative have been or are likely to be successful, but the initiative has far-ranging economic, cultural, and political potential. OBOR, in its essence, is an attempt by the Chinese government to secure a paramount position in global finance for the country and ensure that primacy extends far into the future. In particular, it is an attempt to ensure that there are enough natural resources for China to support itself in the long term. Therefore, the areas selected for the implementation and development of OBOR are deliberately strategic. One of the countries that China has chosen to invest in is Greece, specifically the Port of Piraeus. The OBOR initiative has many similarities with the ancient Silk Road. Although the ancient route and modern concept are in no way identical, many similarities become evident when the two are compared. To understand China's motivation to build such a network, looking back at history is required. This project was long in the making. Various discussions took place both on an international and a domestic level until all parties came to an agreement. The deal at Piraeus between Greece and China affected more people than the politicians and the shipowners-it affected everyone involved in the operations of the port as well as the residents of the area. To further comprehend the impact on their lives, one must see things through their eyes, and there is no better way than contacting individuals and conversing with them. In conclusion, the specific deal at Piraeus and the OBOR initiative as a whole have the potential of benefiting the international and local communities. However, specific measures must be taken, and governments must collaborate in order for the deal in Piraeus and the OBOR initiative to have the most beneficial and the least negative impact.

This handbook provides a unique opportunity to bring together several different strings of debates, especially useful to the growing focus on responsibility which increasingly demands interdisciplinary approaches. It focuses on practices and normativity in ways that are often overlooked by a focus on accountability. It highlights the contested meaning of responsibility. In addition to its academic purpose, it may also prove of interest to policy-makers, think tanks, policy research institutes.

The history of patent harmonization is a story of dynamic actors, whose interactions with established structures shaped the patent regime. From the inception of the trade regime to include intellectual property (IP) rights to the present, this book documents the role of different sets of actors - states, transnational business corporations, or civil society groups - and their influence on the structures - such as national and international agreements, organizations, and private entities - that have caused changes to healthcare and access to medication. Presenting the debates over patents, trade, and the Agreement on Trade-Related Aspects of Intellectual Property Rights (TRIPS Agreement), as it galvanized non-state and nonbusiness actors, the book highlights how an alternative framing and understanding of pharmaceutical patent rights emerged: as a public issue, instead of a trade or IP issue. The book thus offers an important analysis of the legal and political dynamics through which the contest for access to lifesaving medication has been, and will continue to be, fought. In addition to academics working in the areas of international law, development, and public health, this book will also be of interest to policy makers, state actors, and others with relevant concerns working in nongovernmental and international organizations.

The crisis and war in the Gulf have heightened the search for secured energy resources and proved that the Middle East is of paramount interest to ensure an uninterrupted energy supply. Political instability in the region--as well as its relations with the West--have always been influenced by matters relating to oil supplies. The issues of cooperation or competition between governments to obtain sustained supply of commodities at remunerative prices to producers and acceptable to consumers are covered by this book. It provides a scientific analysis of the positions of producers of oil and other commodities as well as their consumers. In a significant new contribution to economic development literature, this book examines the role of intergovernmental commodity organizations in international commodity trade. Araim focuses particularly on the effects of these organizations on the establishment of the New International Economic Order advocated by developing states in an attempt to regain a measure of economic control over the commodities they export. Based on extensive research and his 17-year association with the United Nations, Araim analyzes four major commodity organizations to determine their ability to regain control from transnational corporations, to repatriate profits from the development of a raw material base, and enforce an altered economic order that assists the world's developing nations. In view of increasing bloc convergence and crippling debt problems, the 1990s will refocus attention on this critical issue of the terms under which commodities are traded between North and South.

Following an introduction, the author explores the role of the UN General Assembly in promoting the New International Economic Order and the contributions of GATT and UNCTAD to the promotion of international trade in commodities. Turning to in-depth study of the commodity organizations themselves, Araim devotes a major portion of his book to OPEC because of its impact on the international oil market, its success (particularly in the 1970s) in raising oil prices for the benefit of its members, and its ability to meet the challenges facing it in the 1980s and 90s--an especially timely analysis in light of the recently ended Persian Gulf War. He then examines two other commodity exporting organizations that have had less success--the Intergovernmental Council of Copper Exporting Countries and the International Bauxite Association--in an effort to determine the reasons for their failure to appreciably influence international markets or provide economic benefits to national members. Araim concludes with a look at a major producer and consumer organization, the International Coffee Organization, showing how it has been able to play an important role in the international coffee market, despite chronic differences among producers and between them and consumers. Scholars in development economics and international trade will find AraiM's work enlightening reading, while trade negotiators will find it a valuable and practical guidebook.

This book explores the possibilities and scope of facilitating innovation and transfer of the environmentally sound technologies in the Post-Paris climate era. The possibilities to be explored by the book will first focus on the roles of the climate finance and technological cooperation mechanisms in innovation and transfer of environmentally sound technologies. Secondly, the book will focus on role of the 'flexible mechanism' (i.e. indirect financial mechanisms), which has been re-introduced by the Paris Agreement as 'voluntary cooperation' or 'sustainable development' mechanism in innovation and transfer of environmentally sound technologies. Thirdly, the book will contain a comparative analysis regarding efficiency of the technology transfer mechanism under global climate regime in comparison with technology transfer mechanism that exists under other multilateral environmental agreements (MEAs). In addition to the above, since the issues of trans-boundary technology transfer is also a matter of concern for international trade, the book will discuss to what extent the international trade related laws e.g. intellectual property laws, investment related laws governed by the World Trade Organizations (WTO) can play role in facilitating transfer of the environmentally sound technologies. Another important aspect that this book will cover is potential roles which private sectors can play in innovating and transferring environmentally sound technologies under above-mentioned instruments of international law. In short, this book will be based on the argument that if global climate regime and the international trade regime collaborate each other in creating enabling environment and attracting private sector to invest in the field of environmentally sound technologies, the global challenges of innovation and transfer of the environmentally sound technologies to the developing and least developed countries can be fulfilled in more efficient manner. From conceptual perspectives, discussions and analyses of the book will be made in the light of the principles of equity and common but differentiated responsibilities and respective capabilities (CBDR-RC) - two main guiding principles of the international laws on climate change. This book will be of great interest to scholars of climate change, technology transfer, intellectual property and sustainable development. Besides, national and international level policy makers dealing with climate change and sustainable development will be greatly benefitted from this book.

This book remains the sole export-import textbook aimed squarely at the academic audience. Discussing theoretical issues in depth, while maintaining a practical approach, it offers a comprehensive exploration of import procedures and export regulations. In addition to updated cases, this new edition includes: New major developments in bilateral and regional trade agreements Changes to INCOTERMS 2010 Coverage of the role of e-commerce Expanded updates on methods of payment, export pricing, and government export finance This clearly written and comprehensive textbook will ground students in theory and prepare them for the realities of a career in this fast-moving field. Suitable for upper-level undergraduates and postgraduates of international trade, the book stands alone in its blend of conceptual frameworks and cogent analysis. A related website, filled with export-import resources, opinion pieces, cases, and the latest news is located at: www.export-importtradecenter.com.

Over a period of several centuries, Europeans developed an intricate system of plantation agriculture overseas that was quite different from the agricultural system used at home. Though the plantation complex centered on the American tropics, its influence was much wider. Much more than an economic order for the Americas, the plantation complex had an important place in world history. These essays concentrate on the intercontinental impact.

This book analyses the most recent trends in Foreign Direct Investment from the major Asian economies to the EU, focusing on China and Japan's FDIs in the EU, and Poland in particular. The authors assert that, from a European perspective, there is a strong need for further Asian FDIs into EU nations, which will establish mutual benefits. This is the first book to explore the outflow of FDI from Asian nations to other countries, especially to EU member states, whereas the extant literature focuses on the inflow of FDI to Asian nations. The authors analyse a multidimensional range of issues, covering macroeconomics, finance, technology, and examine the governments, local authorities, and institutions that support such investments. FDI has an instrumental role in the development of host countries. Large-scale capital flow becomes a vehicle for providing foreign technology, knowledge, skills, and other inputs for the integration with international marketing, production, and distribution networks and for improving the economic competitiveness of firms and economic performance of the host country. The analysis in the book is presented using statistical and econometrical approaches, emphasising a profound level of investigation, which will be particularly useful for graduate and PhD students of International Economics, Business and Trade.