For the most part, competition policy literature has focused on large economies. Yet the economic paradigms on which such policies are based do not necessarily apply to small market economies. This book demonstrates that optimal competition policy is very much dependent on the size of an economy. Whether and how firms compete is a matter of the natural conditions of the markets in which firms operate. A critical feature of small economies is the concentrated nature of many of their markets, which are often protected by high entry barriers. Competition policy must be designed to deal effectively with these unique obstacles to competition. Accordingly, applying the same competition policy to all economies alike may be contrary to the policy's goals.

Michal Gal's thorough analysis shows the effects of market size on competition policy, ranging from rules of thumb to more general policy prescriptions, such as goals and remedial tools. Competition policy in small economies is becoming increasingly important, since the number of small jurisdictions adopting such policy is rapidly growing. Gal's focus extends beyond domestic competition policy to the evaluation of the current trend toward the worldwide harmonization of policies. This book will provide important guidance to academics, policy makers, and practitioners of competition policy as well as to anyone interested in the globalization of competition laws.

In this thought-provoking analysis, the author takes three examples of emerging markets (Brazil, India, and Nigeria) and tells their stories of pharmaceutical patent law-making. Adopting historiographical and socio-legal approaches, focus is drawn to the role of history, social networks and how relationships between a variety of actors shape the framing of, and subsequently the responses to, national implementation of international patent law. In doing so, the book reveals why the experience of Nigeria - a country active in opposing the inclusion of IP to the WTO framework during the Uruguay Rounds - is so different from that of Brazil and India. This book makes an original and useful contribution to the further understanding of how both states and non-state actors conceptualise, establish and interpret pharmaceutical patents law, and its domestic implications on medicines access, public health and development. Patent Games in the Global South was awarded the 2018 SIEL-Hart Prize in International Economic Law.

The Agreement on the International Carriage of Perishable Foodstuffs and on the Special Equipment to be Used for such Carriage (ATP) is intended to ensure that deep-frozen and chilled foodstuffs are transported efficiently, safely and hygienically and do not pose a danger to human health. It also helps countries avoid the wastage of food through spoilage caused by poor temperature control during carriage. The ATP Agreement provides common standards for temperature-controlled transport equipment such as road vehicles, railway wagons and sea containers (for sea journeys under 150 km) and the tests to ensure the insulating capacity of the equipment and the effectiveness of thermal appliances. New ATP equipment is required to undergo a test of its K coefficient, to prove that the heat escape from the inside to the outside of the body meets the values defined by ATP. All 50 Contracting Parties to the Agreement - including non-UNECE countries (Morocco, Tunisia and Saudi Arabia) - are required to recognize ATP certificates for equipment that conforms to the standards issued by the competent authorities of other Contracting Parties. The ATP lists the products that can be carried under ATP and sets the warmest possible temperature of the load. Fruit and vegetables unless processed are as yet outside the scope of ATP. ATP applies if the point at which the goods are loaded and unloaded are in two different States and the point at which they are unloaded is situated in the territory of a Contracting Party. In other words it applies even if the State where the goods are loaded is not a Contracting Party. Some countries also use the ATP as the basis for their domestic legislation for temperature-controlled transport.

This book explores the journey of the United Nations Convention on the Rights of Persons with Disabilities (CRPD) as it is interpreted and translated from International Human Rights Law into domestic law and policy in different cultural contexts. Beginning with reflections on 'culture', 'disability' and 'human rights' from different disciplinary perspectives, the work is then organised as 'snapshots' of the journey of the CRPD from the international level to the domestic; the process of ratification, the process of implementation, and then the process of monitoring the CRPD's implementation in States Parties cultural contexts. Leading global contributors provide cutting-edge accounts of the interactions between the CRPD and diverse cultures, revealing variations in the way that the concept of 'culture' is defined. This collection will appeal to academics and students in Law and Socio-Legal Studies, Disability Studies, Policy Studies and Social Work, Sociology, Anthropology; and those training to be service providers with persons with disabilities.

This book is an economic analysis of plagiarism in music, focusing on social efficiency and questions of inequity in the revenue of authors/artists. The organisation into central chapters on the traditional literary aspect of composition and the technocratic problem of 'sampling' will help clarify disputes about social efficiency and equity. It will also be extremely helpful as an expository method where the text is used in courses on the music business.These issues have been explored to a great extent in other areas of musical content-notably piracy, copying and streaming. Therefore it is extremely helpful to exclude consumer use of musical content from the discussion to focus solely on the production side. This book also looks at the policy options in terms of the welfare economics of policy analysis.

This book deals with the ongoing reform process for investor-state dispute settlement in UNCITRAL Working Group III, in particular the proposal to create a multilateral investment tribunal (MIC). The book covers key elements of the MIC proposal, such as the institutional framework of the court, the design of an appeals mechanism, the use of class-law settlement procedures, and the establishment of an advisory center for developing countries. In addition, the selection and appointment of judges is discussed. It also explores the following questions: How can the MIC be integrated into the existing ISDS system? How can the implementation of its decisions be ensured? Each chapter highlights the legal issues to be discussed and places them in a larger context to offer an understanding of the core questions and how they are related to each other.

Since the publication of its first edition, this textbook has been the prime choice of teachers and students alike, due to its clear and detailed explanation of the basic principles of the multilateral trading system and the law of the World Trade Organization (WTO). The fifth edition continues to explore the institutional and substantive law of the WTO. It has been updated to incorporate all new developments in the WTO's ever-growing body of case law. Moreover, each chapter includes a 'Further Readings' section to encourage and facilitate research and discussion on the topics addressed. As in previous editions, each chapter also features a summary to reinforce learning. Questions, assignments, and exercises on WTO law and policy are contained in an online supplement, updated regularly. This textbook is an essential tool for all WTO law students and will also serve as a practitioner's introductory guide to the WTO.

This book provides a comprehensive analysis of national security exceptions in international trade and investment agreements. The subject has gained particular relevance in the past few years, as both the United States and the Russian Federation have invoked national security as justification for trade-restrictive measures in the context of WTO dispute settlement proceedings. The book describes the evolution of security exceptions in international economic law, from the GATT 1947 to the most recent economic treaties, such as the 2017 Buenos Aires Protocol for Intra-Mercosur Investment and the 2018 USMCA. Further, it presents an overview of the rich array of adjudicatory practices addressing national security clauses, covering the decisions of WTO dispute settlement bodies, the ICJ, and numerous investment arbitral tribunals. To this end, the book addresses the debates surrounding the alleged self-judging character of security exceptions and the standards of review applicable where the exception is considered to be justiciable.

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.

Two of the most important developments of this new century are the emergence of cloud computing and big data. However, the uncertainties surrounding the failure of cloud service providers to clearly assert ownership rights over data and databases during cloud computing transactions and big data services have been perceived as imposing legal risks and transaction costs. This lack of clear ownership rights is also seen as slowing down the capacity of the Internet market to thrive. Click-through agreements drafted on a take-it-or-leave-it basis govern the current state of the art, and they do not allow much room for negotiation. The novel contribution of this book proffers a new contractual model advocating the extension of the negotiation capabilities of cloud customers, thus enabling an automated and machine-readable framework, orchestrated by a cloud broker. Cloud computing and big data are constantly evolving and transforming into new paradigms where cloud brokers are predicted to play a vital role as innovation intermediaries adding extra value to the entire life cycle. This evolution will alleviate the legal uncertainties in society by means of embedding legal requirements in the user interface and related computer systems or its code. This book situates the theories of law and economics and behavioral law and economics in the context of cloud computing and takes database rights and ownership rights of data as prime examples to represent the problem of collecting, outsourcing, and sharing data and databases on a global scale. It does this by highlighting the legal constraints concerning ownership rights of data and databases and proposes finding a solution outside the boundaries and limitations of the law. By allowing cloud brokers to establish themselves in the market as entities coordinating and actively engaging in the negotiation of service-level agreements (SLAs), individual customers as well as small and medium-sized enterprises could efficiently and effortlessly choose a cloud provider that best suits their needs. This approach, which the author calls "plan-like architectures," endeavors to create a more trustworthy cloud computing environment and to yield radical new results for the development of the cloud computing and big data markets.

This last decade has been particularly turbulent for the EU. Beset by crises - the financial crisis, the rule of law crisis, the migration crisis, Brexit, and the pandemic - European Law has had to adapt and change in a way not previously seen. First published in 1999, the goal then was to reflect on the important developments that had been made since the creation of the EEC. That goal has not changed. From EU Administrative Law through to the Regulation of Network Industries, each chapter in this seminal work assess the legal and political forces that have shaped the evolution of EU law. With new chapters covering the Rule of Law, Judicial Reform, Brexit, Constitutional and Legal Theory, Refugee and Asylum law, and Data Governance, this third edition of The Evolution of EU Law is a must read for any student or academic of EU law.

This open access book considers the potential setup for a future Multilateral Investment Court (MIC). The option of an MIC was first discussed by the EU Commission in 2016 and has since been made an official element of the EU Common Commercial Policy. In 2017, UNCITRAL also decided to discuss the possibility of an MIC, and on 20 March 2018, the Council of the EU gave the EU Commission the mandate to negotiate the creation of an MIC. The "feasibility study" presented here is intended to contribute to a broader discussion on the options for a new international court specialized in investment protection. The cornerstones of such a new permanent court are a strict orientation on the rule of law, reduced costs of investment protection, transparency considerations, aspects of consistency in case law, and the effective enforceability of MIC decisions.

In this fresh, objective, and non-argumentative volume in the Elements of International Law series, Peter Hongler combines a comprehensive overview of the technical content of the international tax law regime with an assessment of its crucial relationship to wider international law. Beginning with an assessment of legal principles and foundations, the book considers key general principles, treaty based regimes, and regional integration in tax matters. In the second half of the work Hongler places international tax law in the context of its wider relationships with human rights law, and trade and investment law. He concludes by considering major legal successes and failures and what might be done to address these.

This book develops and applies the methodology of Tawhid ("monotheism") as law and the Sunnah (the teachings of Prophet Muhammad) in the Qur'an in establishing a transdisciplinary foundation for the study of Islamic economics, finance, society, and science. It employs the Tawhidi String Relation (TSR), a new theoretical framework in contemporary Islamic sciences, in the methodological formalisation and application of the Tawhidi worldview - as the primal ontological law of monotheism. It employs a deeply Qur'anic exegesis, and a mathematical, philosophical, and socio-scientific mode of inquiry in deriving, developing, and empirically applying the Qur'anic methodology of "unity of knowledge". It is the first book of its kind in rigorously studying the true foundation of the Qur'anic concept of 'everything' - as the world-system extending between the heavens and Earth. The qur'anic terminology of the precept of this "world-system" in its most comprehensive perspective is A'lameen, the terminology in the Qur'an that accounts for the generality and details of the world-systems that are governed by the method of evaluation of the objective criterion of wellbeing. Wellbeing objective criterion is evaluated subject to inter-causal relations between systemic entities, variables, and functions. The cardinal principle of Tawhid in its relationship with the world-system conveys the corporeal meaning of monotheism in its cognitive implication of abstraction and application. Such a study has not been undertaken in existing Islamic socio-scientific literature in analysing Islamic economics, finance, science, and society collectively, using Tawhidi law as a theoretical framework. This book will be relevant to all such scholars who are interested in studying the monotheistic law and the Islamic principles, particularly Tawhid, Shari'ah, and Islamic philosophical thought.

In the twentieth century there were two great political and social paradigms, the liberal-democratic and the libertarian (in its various socialist, anarchist, and communist delineations). The central idea of the first approach is isonomy: the exclusion of any discrimination on the basis that legal rights are afforded equally to all people. The central idea of the second approach is rather to acknowledge and address a broader spectrum of known inequalities. Such an approach, Bellanca argues, allows the pursuit of pluralism as well as a more realistic and complex view of what equality is. Here he analyzes the main economic and political institutions of an isocratic society, and in so doing, effectively outlines how a utopian society can be structurally and anthropologically realized. This book is ideal reading for an audience interested in the critique of contemporary capitalism through a renewed perspective of democratic socialism and leftist libertarianism. Nicolo Bellanca is Associate Professor of Development Economics at the University of Florence, Italy. He is the author of a broad array of scholarly articles, books and textbooks about both the history of economic thought and development economics. His current research focuses on the theory of institutional change.

"Rules for the Global Economy" is a timely examination of the conditions under which international rules of globalization come into existence, enabling world economic and financial systems to function and stabilize. Horst Siebert, a leading figure in international economics, explains that these institutional arrangements, such as the ones that govern banking, emerge when countries fail to solve economic problems on their own and cede part of their sovereignty to an international order. Siebert demonstrates that the rules result from a trial-and-error process--and usually after a crisis--in order to prevent pointless transaction costs and risks.

Using an accessible and nonmathematical approach, Siebert links the rules to four areas: international trade relations, factor movements, financial flows, and the environment. He looks at the international division of labor in the trade of goods and services; flow of capital; diffusion of technology; migration of people, including labor and human capital; protection of the global environment; and stability of the monetary-financial system. He discusses the role of ethical norms and human rights in defining international regulations, and argues that the benefits of any rules system should be direct and visible. Comprehensively supporting rules-based interactions among international players, the book considers future issues of the global rules system.

This book explores current developments in transnational commercial and consumer law. It features essays written by leading experts, many of who have taken part in the negotiation and formulation of the international instruments they discuss here. The contributors look at issues arising from the profound changes that globalization is having on the legal norms governing commercial and consumer transactions, both domestic and transnational. They consider how relations between private actors, state regulators, and national courts are being completely reconfigured. This, in turn, generates pressures for legal harmonization and creates opportunities for new national and transnational legal norms and procedures to develop. The contributions address both the dynamics and the substance of these developments. Topics included are the UNCITRAL Model Law on secured transactions and on cross-border insolvency, the ICC Uniform Customs and Practices of Documentary Credits (UCP 600), and the dispute resolution mechanism and practices of the World Trade Organization. The content was formerly presented as papers at the 18th Biennial Meeting of the International Academy of Commercial and Consumer Law (the International Academy) at Kyushu University, Japan. Overall, this book provides readers with a solid theoretical foundation and strong familiarity with the practice of law and international commerce, offering realistic and practical conclusions.

Updated and expanded for the second edition, this volume provides attorneys, academics and students with a detailed yet accessible overview of the United Nations Convention on Contracts for the International Sale of Goods (CISG). Adopted by more than eighty nations and governing a significant portion of international sales, the CISG regulates contract formation, performance, risk of loss, conformity to contractual requirements and remedies for breach. This volume explains the CISG doctrines and their ambiguities, and appraises the extent to which the doctrines reduce transaction costs for commercial actors. Its topic-based approach will be ideal for those pursuing academic analysis or subject-specific research.

Since 1995 there has been intense debate about whether the WTO Agreement is just. Many observers point to the association of the treaty with intensive interdependence and the disruptive effects of globalization to assert that it is unjust. Nevertheless, justice in sovereign terms is different from justice in human terms. This book puts forward a theory of WTO law to explain the difference and its implications for the international trading system. It details how economic interdependence gives rise to an interdependent view of the relationship between different forms of justice and to interdependent obligations in WTO law. It also suggests how the WTO dispute settlement system might have a residual value as a locus for transformative outcomes despite contemporary concerns about the system's political acceptability. Taken together, such insights may assist in identifying elements of a general theory of law.

Das Buch nimmt eine voelkerrechtliche Analyse des Spannungsverhaltnisses zwischen Kultur und Handel vor. Staatliche Massnahmen zum Schutz und zur Foerderung der Vielfalt von Kulturprodukten, die deren grenzuberschreitenden Austausch beeinflussen, fallen in den Anwendungsbereich zweier voelkerrechtlicher Vertrage: Zum einen beziehen sie sich auf kulturelle Ausdrucksformen, weshalb der Anwendungsbereich der CCD eroeffnet ist. Zum anderen betreffen sie den Handel mit Waren, Dienstleistungen sowie Daten und fallen daher in den Anwendungsbereich des Welthandelsrechts. Dies kann zu UEberschneidungen und Konflikten zwischen den CCD und den WTO-Abkommen sowie zwischen verschiedenen Vorschriften dieser Vertrage fuhren.Das Buch arbeitet diese UEberschneidungen und Konfliktpotenziale heraus und widmet sich moeglichen Loesungsmodellen. Der Bereich der audiovisuellen Medien findet dabei besondere Berucksichtigung, da sich das Konzept der kulturellen Vielfalt vornehmlich in Bezug auf audiovisuellen Medien entwickelt hat. Das Werk zeigt, dass zwar Konfliktpotenzial zwischen den CC-Vorschriften und den WTO-Vorschriften besteht und auch weiterhin bestehen bleibt, dessen Abschwachung aber moeglich ist, indem eine die Vielfalt kultureller Ausdrucksformen begunstigende Umgebung geschaffen wird, in der sich kulturelle Ausdrucksformen entfalten und entwickeln koennen, ohne dass dabei der freie Handel ubermassig beschrankt wurde.

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.

This book covers all major topics in international tax law, ranging from permanent establishments and capital gains to the taxation of royalties and technical services, transfer pricing, and General Anti-Avoidance Legislation. It also highlights the Indian "story" of status vs. contract by examining four areas of controversy: permanent establishments, FTS (Fees for Technical Services) & Royalty, capital gains, and transfer pricing. The book approaches the subject of international taxation from two opposing yet related perspectives. One is the tax planning perspective, which involves contracts entered into by individuals and companies; the other is that of state regulation through increasingly complex legislation. The area of permanent establishments demonstrates the dominance of contracts over status, at least with respect to Indian tax law. However, some recent judicial decisions in this area demonstrate the susceptibility of contracts to status-related arguments. The areas of FTS & Royalty as well as those of capital gains and transfer pricing demonstrate the Indian government's attempts to establish, through legislation, the dominance of status over contracts. Whereas traditional textbooks on international tax law focus on the legal technicalities of tax legislation, this book provides tax scholars and lawyers with an understanding of tax planning and tax legislation side by side in each chapter, specifying the respective kind of actual or anticipated tax planning activity that in turn prompted a legislative response. As such, it offers readers a contextual and practical introduction to the complexities of international tax law, as well as an in-depth analysis of the latest debates and controversies in this area.