Verico discusses the ASEAN economic integration from dual perspectives of time span (trade, investment and finance) and framework (bilateral, sub-regional, regional and regional plus). The work is a comprehensive study of the integration in the wake of the ASEAN Economic Community (AEC)'s inauguration in late 2015. Examining various economic agreement levels from the ASEAN Free Trade Area (AFTA), Bilateral Free Trade Agreement (BFTA) and the AEC to financial integration in ASEAN, Verico attempts to envisage the future of ASEAN in completing its regional economic integration from trade to investment and finance. Verico argues that, in the absence of a customs union, ASEAN must utilize the open-regionalism frameworks of the ASEAN Plus One, ASEAN Plus Three, Regional Comprehensive Economic Partnership and others in order to shift its economic integration level in this way.

The first issue of the Balkan Yearbook of European and International Law (BYEIL) focuses on international commercial and investment arbitration as one of the fastest developing fields of law in Southeast Europe. Covering a range of topics, the contributions analyze transparency and confidentiality in international commercial and investment arbitration in national, EU and international contexts. In addition, it compares the commercial arbitration laws and rules in Bosnia and Herzegovina with the international developments in this area.The papers published in the permanent sections on European Law and International Law explore contemporary challenges in public and private law disciplines, offering new perspectives on old concepts.

This book observes that an in-depth study exclusively focusing on health service trade not only strengthens the overall services trade capacity of the South Asian region, but also promotes global as well as regional trade. There is a dearth of analytical research on estimating barriers to trade in health services, particularly in the context of South Asia, and as such, this book assesses the potential benefits and economic costs of barriers to trade in health services in select South Asian economies. It also analyzes the impact of liberalization and regulatory reforms on economic welfare. It broadly addresses issues relating to trade in health services, the GATS (General Agreement on Trade in Services), such as: Why are the current levels of trade in health services low? How will the GATS legally affect a country's health policy? What effect might liberalization have on national health systems? And what are the likely benefits of greater trade in health services? It also provides specific answers to the following questions: Does the substantial role of the government in health - as health service provider, financial supporter, regulator and promoter - have implications for the treatment of the sector under the GATS? What is the impact of liberalization of international trade in health services on the quality and availability of health services in developing SAARC countries? Given the importance of consumption abroad for trade in health services, and the gradual opening of health markets through Modes 1 and 3 (cross-border supply and commercial presence), how can problems associated with trade in these Modes be prevented? And are these problems sufficiently addressed by GATS disciplines? Answers to these questions will be of great use to researchers, policy makers as well as practitioners and NGOs of South Asia.

The Institute of International Law's 2019 Resolution on the Equality of Parties before International Investment Tribunals represents a major step forward in codification of this essential principle as it applies to investor-state dispute settlement: a principle whose application in this context has attracted increasing controversy in recent years. In this commentary, Campbell McLachlan, who served as the Institute's Rapporteur on the topic, explains the context for the Resolution and sets forth an article-by-article analysis of its provisions, drawing upon a wealth of prior case-law as well as the discussions within the Institute that led to the Resolution. The resulting text is designed to assist counsel and tribunals in investment cases, as well as contribute to the wider debate on the reform of investor-state dispute settlement.

International Commercial Arbitration in Sweden offers comprehensive coverage and analysis of the principles, rules, and legal aspects of international commercial arbitration in Sweden. Sweden has long been a leading centre for international arbitrations, particularly for disputes involving parties from the Russian Federation, other Eastern European countries, and China. Written by a renowned author with more than 25 years experience, practising both as counsel and arbitrator, this book utilizes personal and professional experience to provide the non-Swedish reader with an in-depth knowledge of Swedish arbitration laws as they are applied internationally. Special attention is paid to issues relating to the conflict of laws and further aspects of private and public international law, such as issues around the enforcement of foreign awards in Sweden. This new edition features additional appendices providing a detailed overview of the key cases and legislative amendments since the publication of the first edition.

The post-war liberal economic order seems to be crumbling, placing the world at an inflection point. China has emerged as a major force, and other emerging economies seek to play a role in shaping world trade and investment law. Might they band together to mount a wholesale challenge to current rules and institutions? Emerging Powers in the International Economic Order argues that resistance from the Global South and the creation of China-led alternative spaces will have some impact, but no robust alternative vision will emerge. Significant legal innovations from the South depart from the mainstream neoliberal model, but these countries are driven by pragmatism and strategic self-interest and not a common ideological orientation, nor do they intend to fully dismantle the current ordering. In this book, Sonia E. Rolland and David M. Trubek predict a more pluralistic world, which is neither the continued hegemony of neoliberalism nor a full blown alternative to it.

The book provides a comprehensive overview of the European Sustainability Model which cannot be properly understood without taking into account the global governance trends surrounding the topic. The author offers a fresh analysis of both theory and praxis of sustainable development in the open-ended process of EU integration by shedding new light on the often-overlooked role that law and legal science should have within the educational and cultural domains. The monograph explores the necessity of new conceptual and methodological approaches in order to understand the emerging educational and cultural challenges when it comes to their integration and intersection with sustainability in today's society, which desperately claims systemic transformations.

This book considers the "three Ps" of liberty: pragmatism, pluralism, and polycentricity. These concepts enrich the complex tradition of classical liberal jurisprudence, providing workable solutions based on the decentralization, diffusion, and dispersal of power.

This innovative analysis investigates a complex issue of tremendous economic and political importance: what makes some countries vulnerable to banking crises, while others emerge unscathed? Banks on the Brink explains why some countries are more vulnerable to banking crises than others. Copelovitch and Singer highlight the effects of two variables in combination: foreign capital inflows and the relative prominence of securities markets in the domestic financial system. Foreign capital is the fuel for banks' potentially dangerous behavior, and banks are more likely to take on excessive risks when operating in a financial system with large securities markets. The book analyzes over thirty years of data and provides historical case studies of two key countries, Canada and Germany, each of which explores how political decisions in the 19th and early-20th centuries continue to affect financial stability today. The analyses in this book have crucial policy implications, identifying potential regulations and policies that can work to protect banking systems against future crises.

This volume of Eurasian Studies in Business and Economics includes selected papers from the 25th Business and Economics Society (EBES) Conference, held in Berlin, Germany, in May 2018. While the theoretical and empirical papers presented cover diverse areas of economics and finance from different geographic regions, the main focus is on the latest research in the economics of innovation, investment and risk management together with regional studies. The book also includes studies on law and regulation themes such as economic offences by women, formation of contracts via the internet and public tender for residents of communes.

In light of new global challenges for international cooperation and coordination, such as the revival of protectionism, surge of populism, or energy-related issues, this volume highlights possible scenarios for the future of Global Economic Governance (GEG). The contributing authors analyze the substance of GEG as a normative framework for resolving collective action issues and promoting cross-border co-ordination and co-operation in the provision or exchange of goods, money, services and technical expertise in the world economy. Furthermore, the book examines drivers of fundamental shifts in global economic steering and covers topics such as power and authority shifts in the global governance architecture, technological and energy-related challenges, and the role of the G20 and BRICS in shaping global economic governance. "This book provides a very timely and nuanced account of the challenges facing the established global order." Andrew F. Cooper (Professor of Political Science at the University of Waterloo) "This valuable collection from a new generation of innovative scholars of global economic governance offers insights from a broad range of theoretical approaches to the central policy issues of the day" John Kirton (Director of the Global Governance Program, Munk School of Global Affairs, University of Toronto)

International investment law and arbitration is a rapidly evolving field, and can be difficult for students to acquire a firm understanding of, given the considerable number of published awards and legal writings. The first edition of this text, cited by courts in Singapore and Colombia, overcame this challenge by interweaving extracts from these arbitral decisions, treaties and scholarly works with concise, up-to-date and reliable commentary. Now fully updated and with a new chapter on arbitrators, the second edition retains this practical structure along with the carefully curated end-of-chapter questions and readings. The authors consider the new chapter an essential revision to the text, and a discussion which is indispensable to understanding the present calls for reform of investment arbitration. The coverage of the book has also been expanded, with the inclusion of over sixty new awards and judicial decisions, comprising both recent and well-established jurisprudence. This textbook will appeal to graduates studying international investment law and international arbitration, as well as being of interest to practitioners in this area.

This book explores how the European Union designs its trade policy to face the most recent challenges and to influence global policy issues. It provides with an interdisciplinary perspective, by combining legal, political, and economic approaches. It studies a broad set of trade instruments that are used by the EU in its trade policy, such as: trade agreements, multilateral initiatives, unilateral trade policies, as well as, internal market tools. Therefore, the contributions to this volume present the EU's Trade Policy through different lenses providing a complex view of it.

This book provides a comprehensive analysis of the remedies practice the European Commission has adopted on the basis of articles 7 and 9 of regulation 1/03. Using article 7 as a normative benchmark, it shows that most of the criticism levelled at the Commission's article 9 decisions and the Alrosa judgment of the CJEU is not justified, since critics tend to over-state both the rigour of article 7 and the laxness of article 9. Remaining inconsistencies between the commitment practice and the standards for infringement decisions can, it is submitted, be justified by the consensual nature of commitment decisions and their underlying goal of procedural economy. Moreover, it is suggested that too little importance is generally assigned to the beneficial effect which commitments bring about by providing for precise and enforceable obligations without sacrificing the concerned undertakings' freedom to choose how to put the infringement to an end. Adopting a case-oriented approach, this study provides valuable insights for academics and practitioners alike.

This handbook describes the historical and legal background to the TRIPS Agreement, its role in the WTO and its institutional framework. It reviews the following areas: general provisions and basic principles; copyright and related rights; trademarks; geographical indications; patents; industrial designs, layout-designs, undisclosed information and anti-competitive practices; enforcement of IPRs; dispute settlement in the context of the TRIPS Agreement; TRIPS and public health; and current TRIPS issues. It contains a guide to TRIPS notifications by WTO members and describes how to access the official documentation relating to the TRIPS Agreement and related issues. Furthermore, it includes the legal texts of the TRIPS Agreement and the relevant provisions of the WIPO conventions referred to in it, as well as subsequent relevant WTO instruments and related non-WTO treaties. The new edition covers the public health revision of the Agreement that entered into force in 2017 and provides updates on other recent developments.

This handbook describes the historical and legal background to the TRIPS Agreement, its role in the WTO and its institutional framework. It reviews the following areas: general provisions and basic principles; copyright and related rights; trademarks; geographical indications; patents; industrial designs, layout-designs, undisclosed information and anti-competitive practices; enforcement of IPRs; dispute settlement in the context of the TRIPS Agreement; TRIPS and public health; and current TRIPS issues. It contains a guide to TRIPS notifications by WTO members and describes how to access the official documentation relating to the TRIPS Agreement and related issues. Furthermore, it includes the legal texts of the TRIPS Agreement and the relevant provisions of the WIPO conventions referred to in it, as well as subsequent relevant WTO instruments and related non-WTO treaties. The new edition covers the public health revision of the Agreement that entered into force in 2017 and provides updates on other recent developments.

The Crisis behind the Euro-Crisis encourages dialogue among scholars across the social sciences in an attempt to challenge the narrative that regarded the Euro-crisis as an exceptional event. It is suggested instead that the Euro-crisis, along with the subsequent crises the EU has come to face, was merely symptomatic of deeper systemic cracks. This book's aim is to uncover that hidden systemic crisis - the 'crisis behind the Euro-crisis'. Under this reading it emerges that what needs to be questioned is not only the allegedly purely economic character of the Euro-crisis, but, more fundamentally, its very classification as an 'emergency'. Instead, the Euro-crisis needs to be regarded as expressive of a chronic, dysfunctional, but 'normal' condition of the EU. By following this line of analysis, this book illuminates not only the causes of contemporary turbulences in the European project, but perhaps the 'true' nature of the EU itself.

Related Party Transactions ist die Gefahr immanent, dass sich nahe stehende Personen oder Unternehmen mittels ihrer Einwirkungsmoeglichkeiten auf die Gesellschaft deren Vermoegensguter aneignen. Um dieser Gefahr zu begegnen, hat der Unionsgesetzgeber im Mai 2017 eine AEnderungsrichtlinie zur Aktionarsrechterichtlinie beschlossen. Die Verfasserin hat den Umstand zum Anlass genommen, die Umsetzungsmoeglichkeiten in deutsches Recht auszumessen und kritisch zu wurdigen. Hierfur hat sie den Reformbedarf fur das deutsche Recht herausgearbeitet und auf dieser Grundlage moegliche Reformansatze fur den faktischen Konzern entwickelt. Schliesslich werden die vom deutschen Gesetzgeber implementierten Regelungen zu Related Party Transactions mit den Reformansatzen abgeglichen und bewertet.

Using both qualitative and quantitative methods, this book examines whether qualified foreign institutional investors (QFIIs), through their shareholder activism, have a meaningful positive impact on the corporate governance of firms listed on the mainland Chinese stock market. Capital flows into and out of China are still subject to tight controls, and the QFII scheme is one important avenue through which QFIIs can become invested in the Chinese stock market. This book is an invaluable resource for anyone interested in learning about ways to invest in one of the world's largest economies. Wang discusses in depth what specific opportunities, challenges and restrictions to expect in the process, and how investing in China differs from investing in countries with a more open capital account.

Looking at discrimination, education, environment, health and crime, this volume analyses United States Supreme Court rulings on several legal issues and proposed libertarian solutions to each problem. Setting their own liberal theory of law, each chapter discusses the law at hand, what it should be, and what it would be if their political economic philosophy were the justification of the legal practice. Covering issues such as sexual harassment, religion, markets in human organs, drug prohibition and abortion, this book is a timely contribution to classical liberal debate on law and economics.

This book explores how the EU's enforcement of competition law has moved from centralisation to decentralisation over the years, with the National Competition Authorities embracing more enforcement powers. At the same time, harmonisation has been employed as a solution to ensure that the enforcement of EU competition rules is not weakened and the internal market remains a level playing field. While employing a comparative law argument, the book, accordingly, analyses the need for harmonisation throughout the different stages of development of the EU's competition law enforcement (save Merger control and State Aid), the underlying rationale, and the extent to which comparative studies have been undertaken to facilitate the harmonisation process from an historical perspective. It also covers the Directives, such as the Antitrust Damages Directive and the ECN+ Directive. Investigating both public and private enforcement, it also examines the travaux preparatoires for the enforcement legislation in order to discover the drafters' intent. The book addresses the European and the Member States' perspectives, namely, the Central and Eastern European (CEE) countries, as harmonisation proceeds through dialogue and cooperation between the two levels. Lastly, it explores the extent to which harmonisation of the competition law enforcement framework has been accepted and implemented in the Member States' legal systems, or has led to the fragmentation of the national systems of the CEE countries.

In an era of increased reliance on private regulatory bodies and globalised economic activity, standardisation is the field where politics, technical expertise and strategic behaviour meet and interact. International standard-setting bodies exemplify the rise of transnational governance and the challenges that it brings about relating to institutional choice, legitimacy, procedural and substantive fairness or transparency. This book takes a more empirical-based approach focusing on the mechanics of international standard-setting. It constitutes a multidisciplinary inquiry into the foundations of international standard-setting, an empirically under-researched yet important area of international informal lawmaking. Contributors expertly examine the peculiarities of international standardisation in selected issue-areas and legal orders and shed light on the attributes of international standard-setters, allowing comparisons among standard-setting bodies with a view to identifying best practices and improve our understanding about standardisation processes.

Investors must be held to account for their flawed contributions or otherwise wrongful conduct, but exactly what 'holding to account' means remains an enigma. Opinions vary on whether such circumstances are relevant to admissibility, jurisdiction, liability, or remedies. Reasoning from certain proposed axioms, this book suggests that such circumstances are only relevant to liability, meaning that the legal concepts that they activate, contributory fault and illegality, are defences. Three defences are identified: mismanagement, investment reprisal, and post-establishment illegality. While they might lack formal recognition, arbitral tribunals have implicitly applied them in multiple investment arbitrations. In detailing their legal content, special attention is paid to resolving the problems that they raise relating to causation, apportionment of liability, distinguishing these defences from their conceptual cousins, and arbitral tribunals' jurisdiction over pleas based on investor misconduct. The result is a restatement of the rules on contributory fault and investor misconduct applicable in investment arbitrations.

This book explores the insights that can be gained by looking at the criminal justice system from an economic point of view. It provides an economic analysis of the institutional structure and function of the criminal justice system, how its policies are formulated, and how they affect behavior. Yet it goes beyond an examination of specific policies to address the broad question of how law influences behavior. For example, it examines how concepts such as the possibility of redemption affect the decisions of repeat offenders, and whether individual responsibility is (or should be) a pre-requisite for punishment. Finally, the book argues that, in addition to the threat of criminal sanctions, law inculcates principles of acceptable behavior among citizens by asserting that certain acts are "against the law." This "expressive function" of law can influence behavior to the extent that at least some people in society are receptive to such a message. For these people, the moral content of law has more than mere symbolic value, and consequently, it can expand the scope of traditional law enforcement while lowering its cost. Another goal of the book is therefore to use economic theory to assess this dualistic function of law by specifically recognizing how its policies can both internalize an ethic of obedience to the law among some people irrespective of its consequences, while simultaneously threatening to punish those who only respond to external incentives.

This is the first book that critically examines the reform of the Appellate Body (AB) of the World Trade Organization (WTO) in light of the current crisis resulting from the U.S. blocking of the appointment of its members. The reform of the AB is critical, as the appointment crisis could lead to the demise of "the jewel in the crown," which may even cause the dismantling of the WTO as a whole. This book covers various aspects of the crisis and its reform. Specifically, as the crisis cannot be fully understood without reviewing the role of the AB from the broader perspectives of the other functions of the WTO, the book examines the reform of the AB from the broader perspectives of the WTO governance. Additional focus is on the reform of the AB in relation to its specific functions. Available options are provided to address the AB crisis, as well as discussion of wider implications beyond the WTO. Contributed by world-renowned academics, experts, and practitioners in the field of international economic law, this volume provides a comprehensive analysis of the AB crisis and its solutions.