Monetary sovereignty is a crucial legal concept dictating that states have sovereignty over their own monetary, financial, and fiscal affairs. However, it does not feature as part of any key instruments of international law, including the Articles of Agreement of the International Monetary Fund. Rather, it has remained a somewhat separate notion, developed under contemporary international law from an assertion of the former Permanent Court of International Justice in 1929. As a consequence of globalization and increasing financial integration and a worldwide trend towards the creation of economic and monetary unions, the principle of monetary sovereignty has undergone significant change. This book examines this evolution in detail, and provides a conceptual framework to demonstrate what this means for the legal and economic challenges faced by the international community. The book examines the historic origins and evolution of the concept of monetary sovereignty, putting it into the context of broader concepts of sovereignty. It argues that monetary sovereignty remains relevant as a dynamic legal concept with both positive and normative components. It investigates the continuing hybridization of international monetary law resulting from changes to its formal and material sources. It then examines the complex phenomenon of exchange rate misalignment under international monetary and trade law, and the increasing regionalization of monetary sovereignty, notably in light of the European sovereign debt crisis. Finally, it assesses the role the concept of monetary sovereignty can play in the reorganization of international finance following the recent global financial crisis.

Offering a study of regionalism in Africa and investigating the ways in which law can be used to address the issues raised by regional processes on the continent, this book examines the African Economic Community, considering that it has been entrusted to coordinate and to harmonize policies between various Regional Economic Communities (RECs) across the continent, thereby influencing the continent's approach towards regional integration. It seeks to identify how law can be used to strengthen the African RECs while ensuring that they achieve their goal of promoting regional development across the continent. Drawing upon economic and political theories, and using a critical doctrinal analysis of legal texts and norms, the book uncovers the legal and economic underpinnings of the model of regional integration followed by the regional schemes operating under the banner of the AEC, aiming to contribute to the search for effective methods to ensure the success of these various initiatives. Proposing the concept of "Regional Developmentalism Through Law" as the most suitable conceptual framework to support the effective establishment of an African Economic Community, this book will be of interest to researchers, academics and policy makers interested in the correlation between law, regional integration and development in Africa.

This book is a political-economic analysis of China's transformation to become a global aviation power. It aims to identify the driving forces that have shaped China's ever-evolving international air transport policy direction and goals in the past four decades and further determines how and to what extent these driving forces have shaped China's considerations and strategies when executing its policy goals through bilateral air services negotiations. The findings reveal that China's international air transport policymaking has remained in the domain of the country's aviation regulator, which has enjoyed an exclusivity to exercise its power on the air transport sector. The book argues that China's international air transport policy direction is in alignment with the country's overall strategic mission and its goal is set to support the country's endeavour to realise the "China dream." It concludes that factors at all levels interact with each other with a far-reaching impact on the country's policy direction and goal setting; however, these factors are constrained by time and circumstances. The book is a must-read for a wide array of audiences, including, but not limited to, scholars and industry professionals who have an interest in China's political economy, policymaking, international trade, government behaviour, corporate political activities, air transport, aviation liberalisation, and bilateral negotiations.

This book provides a detailed analysis of the legal framework in which the energy trade between the European Union and the Russian Federation has been conducted. Using case studies of eight member states, it critically examines the EU's ability and the duty of its Member States to conduct their external energy trade in accordance with the principle of solidarity. Providing a comprehensive analysis of the principle of solidarity as provided in the acquis communautaire of the EU, the book critically analyses the legal framework pertaining to EU-Russia energy trade to ascertain whether, and to what extent, it satisfies the requirements of the rule of law.

This book offers a critical examination of the jurisprudence of the World Trade Organization (WTO) as an emancipatory international social contract on trade. The book suggests that the WTO is an international organization built and operating on member states' attribution of authority through consent with legislative, administrative, and adjudicative functions - three functions in one triune personality. With a solid constitutional continuity building on GATT experiences, the WTO has successfully made governments accountable to foreign individuals in various capacities either as traders of goods, providers of services, or holders of intellectual property rights within the global marketplace. With a triune personality, the WTO operates within the reign of state primacy - the force - ultimately for the benefits of individuals - the ends - in the global marketplace, and gains a soul of its own in the institutional evolution - the means - of the global trading regime. Although the tripartite dynamics between states, international institutions, and individuals in the global marketplace are unprecedentedly complex, the WTO's ends of benefiting individuals in the global marketplace has no end. Beyond the critical analysis of WTO's decision-making by consensus, the book critically examines GATT's "common intention" treaty interpretation, Antidumping's NME methodology, TRIPS' public health concerns, and IP-competition trade policy dynamics. A unified WTO jurisprudence looking at the WTO as an international social contract on trade is therefore proposed to allow a fresh look at the force, the means, and the ends of the constitutional evolution of the global trading regime.

This edited volume explores the question of the lawfulness under international law of economic activities in occupied territories from the perspectives of international law, EU law, and business and human rights. Providing a multi-level overview of relevant practices, policies and cases, the book is divided in three parts, each dealing with how different legal fields have come to grips with the challenges brought about by the question of the lawfulness under international law of economic activities in occupied territories. The first part includes contributions pertaining to the international law dimension of the question. It contains chapters on the conjunction between jus in bello, jus ad bellum and international human rights law in the context of exploitation of natural resources in territories under belligerent occupation; on third party obligations flowing from the application of occupation law in relation to natural resources exploitation; and on State practice with regards to trading with occupied territories. The second part focuses on EU law and contains contributions that assess the EU's approach to occupied territories and the extent to which this approach comports with the EU's obligations under international law; contributions providing an in-depth assessment of the case-law of the CJEU on occupied territories; as well as contributions pertaining to the political considerations that may influence the legal framing of questions pertaining to occupied territories. The final part focuses on the business and human rights perspective, with chapters on investment arbitration as a means for holding the occupant accountable for its conduct towards foreign investments and investors; on the role and impact of the soft law framework governing corporate activity (such as the UN Guiding Principles) on business involvement with occupied territories; as well as a final case study on the dispute involving Israeli football activity in settlements located in the OPT and the legal responsibility of FIFA in this regard. The book will appeal to academics, practitioners and policy-makers alike.

In less than 100 years, international organizations have evolved from curiosities into keystones of international law. What began long ago as an unremarkable effort to coordinate a limited number of technical issues has grown into a global, multilevel, blended governing project with diverse competences in most fields of human endeavor and interests. Law graduates who enter the field of international law, as well as political science, international relations, and diplomacy, are increasingly expected to have a strong knowledge of the law of international organizations. Beyond knowledge, graduates are also expected to be able to solve new emerging legal problems confronting organizations. This book introduces students to the law of international organizations through the careful study of the most recent cases and other materials from the International Court of Justice, United Nations Security Council and General Assembly, World Trade Organization, international criminal tribunals, European Union, European Court of Human Rights, International Labour Organization, various domestic courts and arbitral panels, and other bodies. In doing so, it undertakes a critical examination of legal rights and duties, exposing the fundamental questions that arise when addressing a range of issues within an organization. In order to provide the best foundation, the textbook focuses on several key topics: the law of treaties, creation of organizations, membership, powers of organizations, legal effects of their acts, organs, immunities, and responsibility. This book is best suited for students who are studying international organizations and who have already had one or more courses on international and/or European law.

In less than 100 years, international organizations have evolved from curiosities into keystones of international law. What began long ago as an unremarkable effort to coordinate a limited number of technical issues has grown into a global, multilevel, blended governing project with diverse competences in most fields of human endeavor and interests. Law graduates who enter the field of international law, as well as political science, international relations, and diplomacy, are increasingly expected to have a strong knowledge of the law of international organizations. Beyond knowledge, graduates are also expected to be able to solve new emerging legal problems confronting organizations. This book introduces students to the law of international organizations through the careful study of the most recent cases and other materials from the International Court of Justice, United Nations Security Council and General Assembly, World Trade Organization, international criminal tribunals, European Union, European Court of Human Rights, International Labour Organization, various domestic courts and arbitral panels, and other bodies. In doing so, it undertakes a critical examination of legal rights and duties, exposing the fundamental questions that arise when addressing a range of issues within an organization. In order to provide the best foundation, the textbook focuses on several key topics: the law of treaties, creation of organizations, membership, powers of organizations, legal effects of their acts, organs, immunities, and responsibility. This book is best suited for students who are studying international organizations and who have already had one or more courses on international and/or European law.

The retail sector is an integral part of a national economy. From the political economy perspective, all consumer goods have surplus values locked up in them; the surplus values are not realized until the consumer goods are purchased by consumers through various distribution channels. As such, retailing is the essential link between production and consumption. The success of a retail business depends on two general factors: the location of the retail outlet, and management of the business. Both factors are equally important. If the business is located in the wrong place with the wrong customer base, it will not generate expected sales. Similarly, if the business is poorly managed and operated, it will not perform well even if the location is right. Influenced by both traditional and new location theories, Retail Geography is conceptualized and organized using the retail planning process as the framework. The technical and methodological chapters help guide the reader with detailed descriptions of the techniques and are supported with practical examples to reflect the latest software development. Retail Geography provides a state-of-the-art summary and will act as a core textbook for undergraduate and graduate students of economic geography interested in specializing in retail and business geography. The practical examples also make it a valuable handbook for practitioners in the field, as well as students of retail management and commercial real estate management.

The retail sector is an integral part of a national economy. From the political economy perspective, all consumer goods have surplus values locked up in them; the surplus values are not realized until the consumer goods are purchased by consumers through various distribution channels. As such, retailing is the essential link between production and consumption. The success of a retail business depends on two general factors: the location of the retail outlet, and management of the business. Both factors are equally important. If the business is located in the wrong place with the wrong customer base, it will not generate expected sales. Similarly, if the business is poorly managed and operated, it will not perform well even if the location is right. Influenced by both traditional and new location theories, Retail Geography is conceptualized and organized using the retail planning process as the framework. The technical and methodological chapters help guide the reader with detailed descriptions of the techniques and are supported with practical examples to reflect the latest software development. Retail Geography provides a state-of-the-art summary and will act as a core textbook for undergraduate and graduate students of economic geography interested in specializing in retail and business geography. The practical examples also make it a valuable handbook for practitioners in the field, as well as students of retail management and commercial real estate management.

This book provides a special interest theory of protection, developing a full general equilibrium theory that explains the distribution of income with goods markets, factor markets, lobbies, political parties, and voters all pursuing their self interest. This probabilistic voting model shows how well-organized groups can use seemingly irrational government policies to exploit poorly organized groups. Given rational predatory behaviour between these groups, protection or any other redistributive policy that improves the chances of election of a party increases political efficiency. This can create an economic black hole, conditions under which an entire economy can disappear into lobbying. Paradoxically, the tariff rates accompanying an economic black hole are very low. The economic waste is confined to lobbying costs. The book contains both theoretical and empirical work explaining protection in the United States (1900-88) and levels of protection in about sixty foreign countries in the 1980s.

In the aftermath of the Napoleonic Wars Britain found itself faced with a stagnant economy. Economist David Ricardo believed that the full re-integration of Britain into the world market would allow for both capital accumulation and population growth, and used arguments that anticipate ideas entertained in modern contributions to the theory of economic growth and development. However, several of these arguments have not yet been translated into the language of modern classical economics. Ricardo's Theory of Growth and Accumulation seeks to overcome this striking lacuna. The latest entry in the Graz Schumpeter lecture series, this text explores and elaborates Ricardo's arguments and the models utilized by those who subsequently followed in support of his work. The Ricardian system is first examined through a one-sector economy, following Kaldor's model, and a two-sector economy, following Pasinetti's model. These building blocks are developed through the exploration of a small open economy, which allows an analysis of the impact of international trade in exceedingly simple circumstances. This discussion expands further by considering the world economy. More sophisticated variants of the two-sector model are presented, in which commodity prices are endogenously determined by the trading interplay amongst several countries. A final analysis makes Ricardo's case by introducing accumulation in the world economy. This book is of interest to students and scholars of Ricardo, classical economics, and - more broadly - growth theory, the theory of international economics, and globalization. The author was keen to render the analytical parts compelling to the historian and the historical parts compelling to the theorist.

Technology offsets, a nonconventional international trade-financing tool, is used by governments (buyers) to obtain industrial and technological benefits from companies (sellers) as part of international procurement. Offsets deals involve billions of dollars and this practice exists in around 80 countries around the world. Though offsets is a popular practice in defence, it is increasingly gaining popularity in civil sectors. Offsets is often tainted by controversy and receives bad press. What then makes offsets popular? Governments claim that offsets delivers technology and knowledge transfer, skills in high technology sectors and employment, and offsets expands export opportunities through participation in OEM supply chains. For companies, offsets is mainly employed as a tool to obtain a competitive edge and win sales in international business. In the past, there have been mixed results of case studies on the impact of offsets successes and failures. Considering the mismanagement of globalisation, unfair trade agreements and current political and economic discontent, there is a stronger need for governments and companies to use vehicles such as offsets to create a relationship of trust and commitment for sustainable development. This book fills the gap in offsets and focuses on how to manage offsets more effectively by addressing issues of strategy, policy and implementation, technology management, governance and risk. Technology Offsets in International Defence Procurement is designed for those studying international procurement, international trade, international business, technology management, defence policy and industrial policy. This book will also be of interest to practitioners and policy makers in both government and industry.

This volume examines dynamic interactions between the calculative and speculative practices of commerce and the fruitfulness, variability, materiality, liveliness and risks of nature. It does so in diverse environments caught up in new trading relationships forged on and through frontiers for agriculture, forestry, mining and fishing. Historical resource frontiers are understood in terms of commercial knowledge systems organized as projects to transform landscapes and environments. The book asks: how were environments traded, and with what environmental and landscape consequences? How have environments been engineered, standardized and transformed within past trading systems? What have been the successes and failures of economic knowledge in dealing with resource production in complex environments? It considers cases from northern Europe, North and South America, Central Africa and New Zealand in the period between 1750 and 1990, and the contributors reflect on the effects of transnational commodity chains, competing economic knowledge systems, environmental ignorance and learning, and resource exploitation. In each case they identify tensions, blind spots, and environmental learning that plagued commercial projects on frontiers.

Reflecting Professor Holzman's important work, this book deals with major issues relating to both East-West and intra-bloc trade. Professor Holzman explores the transition in Soviet bloc economies over the past fifteen years from balanced hard-currency trade to large deficits with the West and the consequent development of a huge hard-currency debt. He compares the causes and treatments of deficits in planned economies with those in market economies and explores the dramatic differences in foreign trade behavior exhibited by Eastern and Western nations and the difficulties that arise when these conflicting systems interact in world markets. He also assesses the impact of Western economic warfare on the Soviet Union and makes recommendations for future U.S. trade policy. The author next turns to the issue of intra-bloc trade. In its early years the USSR economically exploited the smaller East European nations, but many argue that the Soviet Union now subsidizes trade with its partners in the Council for Mutual Economic Assistance in exchange for political, military, and ideological support-an argument that Professor Holzman strongly challenges. He also contends that CMEA, when viewed as a preferential trade group or customs union, has been markedly unsuccessful. On another level, Professor Holzman assesses the causes and possible cures for the serious, chronic problems related to currency inconvertibility, rigid bilateralism, and inability to use exchange rates as tools of economic adjustment. In an international economy growing ever more interdependent, the issues raised in these previously uncollected essays will continue to gain in importance as East and West meet in trade.

First published in 1907, this substantial volume emerged as guidance to those involved in international trade at the time of the British Empire, with a focus on seafaring commerce and its hazards. Its dedication to Herbert H. Asquith and support from the International Law Association suggest it was an authoritative text. The author aims to provide a full exposition of the rules of International Law which governed the commercial relations of the subjects of neutral and belligerent nations. Produced with lawyers, shipowners, shippers and public servants in mind, it covers issues including contraband, blockades, capture and rescue.

This book analyses the fast spread of free trade agreements (FTAs) across the globe, their content and their economic impact. In the wake of Brexit and the new protectionism of President Trump, Melchior offers a timely assessment of key issues relating to FTAs. Dividing the world into seven major regions, he analyses world trade, the globalisation of FTAs and their role within and between the regions. Using a new world trade model, he then presents new evidence on the impact of trade agreements, the value of trade, the impact of China's growth and the West's industrial decline, and the role of reciprocity in trade policy. Covering rich and poor countries, commodity exporters and all of the world's regions, he offers new and original insights about a number of pertinent issues facing today's world.

The attempt of the Grameen Bank to alleviate poverty and enhance the skills and productivity of its rural women clients provides the fascinating backdrop to this important study of micro-credit institutions. Tazul Islam examines the real extent to which the Grameen Bank's credit-alone policy has been successful in securing the Bank's financial sustainability; its practical role in alleviating poverty and its actual impact on the productivity of its clients. This book concludes by considering alternative policy options that hold out the possibility of increased poverty alleviation.

For almost fifty years Japan pursued a single-track approach focusing trade negotiation efforts exclusively on the global multilateral forum while shunning regionalism as harmful to the General Agreement on Trade and Tariffs/ World Trade Organisation system. However, following the tsunami disaster of March 2011 and widespread economic downturn Tokyo has engaged much more actively in pursuing bilateral Free-Trade Agreements (FTAs). This book explores the turnaround in Japanese strategy and trade policy. Drawing on case studies and including interviews with FTA policymakers within the government and key interest groups it focusses on the domestic political process of FTA and Trans-Pacific Partnership (TPP) negotiations to investigate the cause of the policy shift. This work will prove useful to students, scholars and policymakers interested in international political economy, Japanese trade policy, East Asian regionalism and the Trans-Pacific Partnership (TPP).

This book considers the impact of uncertainty on traditional theories of international trade.

This book, first published in 1989, compares, contrasts and evaluates the nature, scale and direction of industry-academic interactions in Britain and Japan: the conversion of academic discoveries into practical products. Japan shows its outstanding ability to translate scientific ideas into high technology products. Within this wider investigation, detailed consideration is given to the manner in which these interactions promote innovation and technology transfer. The information in this study provides a perspective against which decisions can be made about industry-education interaction arrangements, and much of this information is largely unavailable outside Japan.

Economic success in Japan has been attributed to the existence of harmonious labour-management relations. This book, first published in 1991, argues that this unique 'culture of harmony' was consciously invented and developed over the last century. A semi-bureaucratic organization called the Kyochokai was established in 1919 to meet the needs of an emerging industrial society. It took the lead in trying to define the values which would be suitable for a new Japanese-style industrial culture. The resulting 'invented' tradition has played an important role in the evolution and character of Japanese economic values and behaviour.

In the 1980s, the extent of Japanese export penetration into other Western economies, particularly the USA, became a matter of international concern. There were demands for Japan to reciprocate on imports, for the Japanese market to be 'opened up' and, by some people, for sanctions or a trade war if the Japanese did not respond. This book, first published in 1989, examines the growth of protectionist sentiment and the Japanese response to it. It examines in detail the debates within Japan and discusses the measures which the Japanese took, including the voluntary export restraint measure in the motor sector. It concludes that, broadly, the Japanese did indeed respond to world demands for their market to be opened up but that successful exporting to Japan depended equally on efforts by Western companies to service that market, which they were slow to do.

The first comprehensive study of post-war Japanese transnational corporations in Australia, this book, first published in 1990, gives valuable insights into the particular characteristics of Japanese overseas investment. It looks at how, where and why Japanese corporations have set up their business activities in Australia, focusing on the economic, political and geographic factors shaping their operations. It presents case studies of Japanese trading companies, manufacturing companies, banks, and financial institutions. As well as highlighting the essential differences that separate Japanese transnational companies from those of the UK and the USA, the study gives new theoretical insights into the complex behaviour of Japanese corporations in their host countries.

This book, first published in 1988, assembles a key pool of references in English to help study the 'Japanese economic challenge' of the 1980s. Collectively, these writings chronicle the historical, social and cultural background of Japan's spectacular industrial take-off. They describe, analyse and interpret the diverse manifestations of Japan's economic growth.