Over the last four decades, the direction of research on international trade policy formation has been significantly influenced by Wolfgang Mayer's contributions to both the positive and normative theory of international trade and, in particular, to the political economy of actual policy formation. This volume consists of a collection of Mayer's original articles, selected with the objective to further facilitate the study and advancement of the theory of trade policy formation.Part I of this book deals with the pure theory of international trade, as the theoretical underpinning for the formation of trade policies. Specifically, it explores the robustness of the Heckscher-Ohlin framework and its two core propositions - the Stolper-Samuelson and Rybczynski theorems - by relaxing its underlying assumptions in four ways: limiting the inter-industry mobility of factors of production in the short run; allowing for industry economies of scale; introducing uncertainty of commodity prices; and endogenizing a country's supply of labor.Part II addresses issues related to first-best trade policies which had gained prominence during the period of multilateral trade liberalization under the auspices of the GATT, such as: the scope and limits of negotiated tariff agreements; first-best policy justifications for import restrictions and export promotions; and the use of import-quality standards as a substitute for tariffs.Part III explores the political economy of trade policy formation. It is a response to the observation that, in spite of wide agreement on a country's welfare-maximizing policies, they continue to deviate quite markedly from actually adopted policies. The models of Part III account for the political environment in which governments operate, with particular emphasis on majority voting by individuals with heterogeneous policy preferences.Part IV introduces a political-economy approach to explain the mixed success of conditional assistance programs, as designed by International Financial Institutions (IFIs). It calls for explicit incentives to motivate assistance-receiving governments to reform their economies when interest groups are powerful and IFIs have limited information on the competence and willingness of governments to implement reforms.

Regulatory Counter-Terrorism explores an emerging terrain in which the global governance of terrorism is expanding. This terrain is that of proactive regulatory governance - the management of the day-to-day activities of individuals and entities in order to pre-emptively minimize vulnerability to terrorism. Overshadowed by the more publicized dimensions of military and criminal justice responses to terrorism, regulatory counter-terrorism has grown in size and impact without stirring up as much academic debate. Through a critical assessment of international regulatory counter-terrorism in three areas - financial services, the control of arms and dangerous materials, and the cross-border movement of persons and goods - this volume identifies a dynamic trend. This is the refashioning of international rule making into a flexible and experimental exercise. This volume shows how this transformation is affecting societies across the world in new ways and in the process unravelling settled understandings of international law. Furthermore, through an in-depth analysis of the working processes of UN counter-terrorism bodies and the Financial Action Task Force, this book illustrates that the monitoring of the global counter-terrorism regime is, contrary to accepted understanding, in the main collaborative and managerial, and coercive only peripherally. Dynamic rule making and soft monitoring complement each other, but this is a reason for concern: the softening of international monitoring encourages regulatory adventurism by states in tackling terrorism, while the element of self-correction in dynamic rule making helps silence the calls for institutionalized mechanisms of accountability. This volume will be of great interest to students and scholars of counter-terrorism, security studies, global governance, and international law.

This comprehensive and accessible book examines the evolution of the multilateral trade regime in the ever-changing global economic environment, particularly during the WTO era and the ongoing Doha Round. Professor Das explores how the creation of the multilateral trade regime, or the GATT/WTO system, has been fraught with difficulties. He describes the ways, by means of various rounds of negotiations, the multilateral trade regime has constantly adjusted itself to the new realities of the global economy. One glance at the recent history indicates that the evolution of the multilateral trade regime was far from even-handed and steady. The GATT/WTO system was repeatedly pushed to the brink of utter and ignominious disaster. Yet, as the author illustrates, the participating economies persevered. Consequently, the fabric of multilateral trade regime is stronger, its foundation deeper and its framework wider now than it was a generation ago. Unlike the GATT era, membership of the present trade regime is close to universal. The author concludes that of the two phases, the latter has turned out to be the more arduous, intricate and complex phase of evolution. Students and scholars of economics, international trade, international political economy and international relations will find this study of great interest. The definitions and explanations of terminology and advanced concepts make this book accessible to those without an extensive economic background.

Through its focus on EU Association Agreement negotiations, this book goes beyond the study of traditional EU trade negotiations and puts the spotlight on the increasing number of negotiations where trade relations are discussed alongside political ones. This setting makes both the negotiations themselves and the definition of the EU's positions more complicated, raising the question as to what ultimately determines the EU's behaviour in such complex negotiations spanning multiple of the EU's policy areas. Offering a generalizable analytical model to study such complex EU international negotiations, the book illuminates the preferences and interactions between individual parts of the EU's foreign affairs bureaucracy, and those between the lead actors, the Directorate General for Trade, and the European External Action Service (EEAS), in particular. In doing so, it demonstrates the utility of adapting the concept of bureaucratic politics from Foreign Policy Analysis (FPA) to the EU's foreign policy decision-making apparatus across different stages of EU international negotiations. It also discusses how the institutional changes of the Treaty of Lisbon have altered the institutional set-up of the EU's foreign affairs bureaucracy and thereby changed the foundations of the EU's bureaucratic politics. Finally, the book finds that the EU's behaviour in these negotiations is ultimately shaped, on the one hand, by the presence of diverging positions between its institutional actors, and the difficulty to bridge them through policy coordination mechanisms, on the other. Empirically, it explores these dynamics by considering the EU's Association Agreement negotiations on the Latin American continent over the last twenty years before demonstrating the analytical model's utility in the context of the EU's negotiations with Ukraine and Japan. This book will be of key interest to scholars, students, and practitioners in EU foreign affairs/external relations, EU public administration and public policy, EU trade policy, and more broadly to Foreign Policy Analysis and International Relations.

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

This insightful book analyzes the impact of Foreign Direct Investment (FDI) in China as well as making valuable contributions to the theory of FDI more broadly. The authors provide empirical analysis of key factors including the location-specific determinants of FDI; the impact of FDI on domestic investment, income distribution, consumption and tourism; the relationship between FDI inflows and income inequality; causality between FDI, domestic investment and economic growth; and causality between FDI and tourism. The study concludes that FDI plays a crucial and positive role in the economic development of China. Rather than crowding out domestic investment, FDI is found to stimulate economic growth by complementing it. China's Economic Miracle will be warmly welcomed by potential investors who are interested in investing in China. It will be highly useful for academics and postgraduate students with an interest in FDI or the Chinese economy. With strong policy-oriented analyses and discussions on implications the book will also prove invaluable to policymakers in various government and private sectors who have trade-links with China.

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.

On the occasion of the 50th Anniversary of the multilateral trading system (GATT/WTO), the World Trade Organization (WTO) organized a symposium to discuss and analyze the current and future role of the world trading system. The rapid developments in the 1990s - not only political, but also economic and technological changes - have brought the WTO to a turning point in its existence. The new challenge, as the Director General stated in his opening remarks at the symposium, is not just to advance free trade against the forces of protectionism. The WTO's future agenda should also look at how investment and competition laws affect market access; whether differing labour or environmental standards confer a trade advantage and how this should be dealt with; whether taxation and innovation policies constitute a subsidy; whether governments should be allowed to regulate content on the Internet. These and other issues are a world away from "traditional" trade concerns such as tariffs or quotas, and yet all are included, in one form or another, on the new trade agenda. In this topical collection of essays, academics in international trade take a fresh look at the future of the global trading system and give an analysis of the new trade agenda.

From cooperation to a new cold war: is this the future for today's two great powers?. U.S. policy toward China is at an inflection point. For more than a generation, since the 1970s, a near-consensus view in the United States supported engagement with China, with the aim of integrating China into the U.S.-led international order. By the latter part of the 2010s, that consensus had collapsed as a much more powerful and increasingly assertive China was seen as a strategic rival to theUnited States. How the two countries tackle issues affecting the most important bilateral relationship in the world will significantly shape overall international relations for years to come.In this timely book, leading scholars of U.S.-China relations and China's foreign policy address recent changes in American assessments of China's capabilities and intentions and consider potential risks to international security, the significance of a shifting international distribution of power, problems of misperception, and the risk of conflicts. China's military modernization, its advancing technology, and its Belt and Road Initiative, as well as regional concerns, such as the South China Sea disputes, relations with Japan, and tensions on the Korean Peninsula, receive special focus.

This book addresses the question of how competition takes place in international manufacturing industries. It examines patterns of rivalry among firms from different countries across national boundaries and their influences on international trade and investment. By using various data on Japanese firms in manufacturing industries from the late 1950s through the early 2000s, the first part of this book presents a series of empirical analyses that examines effects of market structure on export pricing, linkages of domestic and foreign market structures on trade performance, and patterns of oligopolistic interactions among firms from different countries in exporting. The second part of this book deals with the impact of strategic interactions on foreign direct investment. In particular, the book examines 'bunching' in foreign direct investment, strategic interactions in intra-industry cross-market foreign direct investment, and their effects on entry patterns and post-entry performance.

The global shift towards overweight and obese populations has led to a significant rise in diet-related chronic illness. This book examines the role global food trade has played in that shift, looking carefully at how the trade of food across national borders, international and regional trade agreements, the process of trade and investment liberalization, and the growth of transnational food corporations affects what people eat and, by implication, their health. An international team of editors has brought together a prestigious group of contributors who present a critical analysis of the linkages between trade, food and diet in different domains. Between them, the multidisciplinary group present a balanced perspective on the opportunities and risks trade poses for dietary trends and offer a practical analysis of the policy options available to address this growing global concern.* An international multidisciplinary team of authors* Detailed look at the issues followed by practical policy analysis* A comprehensive review of an important global issue Academics, researchers and practitioners in the field of public health, especially those concerned with nutrition, obesity and chronic disease, will find this book an enlightening and fascinating read. Social scientists, policy makers, trade analysts and food industry professionals will equally gain much from this innovative approach to the subject.

The central point of this book concerns three main issues: the problems of WTO retaliation, the question of the effectiveness of retaliation, and the purposes of retaliation. WTO retaliation is often deemed ineffective due to its inherited shortcomings. This book highlights the significance in identifying the purposes of retaliation prior to evaluating its effectiveness. Put differently, it refers to the purpose-based approach of effectiveness. It is a common understanding that the purpose of WTO retaliation is to induce compliance. This book, nevertheless, argues in favour of coexistence of the multiple purposes of retaliation, including reaching a mutually agreeable solution. These views are based on the extensive research conducted on the purposes of WTO retaliation, namely through interpreting Article 22 of the DSU; examining the remedies rules within the frameworks of public international law, and law and economics; and assessing the academic writings/debates as well as the statements of arbitrators. Finally, by evaluating a number of disputes involving WTO retaliation, this book demonstrates the reasonableness and soundness of WTO retaliation in light of its multiple purposes.

The Sassoons were one of the great business dynasties of the nineteenth century, as eminent as traders as the Rothschilds were bankers. This book reveals the secrets behind the family's phenomenal success: how a handful of Jewish exiles from Ottoman Baghdad forged a mercantile juggernaut from their new home in colonial Bombay, the vast network of agents, informants and politicians they built, and the way they came to bridge East and West, culturally as well as commercially. Through the lives these ambitious figures built for themselves, the reader is drawn into a captivating world of politics and power, innovation and intrigue, high society and empire. The Global Merchants is thus at once a portrait of a single family and a panorama of the hundred and thirty years of their prominence: from the Opium Wars to the American Civil War, the establishment of the British Raj to India's independence. Together these give a fresh perspective on one of the defining forces of their age and the present: globalization. The Sassoons were variously its agents, advocates and casualties, and watching them moving through the world, we perceive the making of our own.

The insolvency of multinational corporate groups creates a compelling challenge to the commercial world. As many medium and large-sized companies are multinational companies with operations in different countries, it is important to provide appropriate solutions for the insolvency of these key market players. This book provides a comprehensive overview of the cross-border insolvency theories, practical solutions and regulatory solutions for the insolvency of multinational corporate groups. Whilst the book recognises certain merits of these solutions, it also reveals the limitations and uncertainty caused by them. An analysis of the provisions and tools relating to cross-border insolvency of multinational corporate groups in the new EU Regulation on insolvency proceedings 2015, the UNCITRAL Model Law on cross-border insolvency, the Directive on preventive restructuring frameworks and the Bank Recovery and Resolution Directive 2014, along with a study of directors' duties, are included in this book. This book focuses on the insolvency and rescue of non-financial corporate groups. However, it is also important to recognise the similarities and differences between corporate insolvency regimes and bank resolution regimes. In particular, lessons learnt from bank resolution practices may be useful for non-financial corporate groups. This book aims to provide an in-depth examination of the existing solutions for the insolvency of multinational corporate groups. It also aims to view cross-border insolvency of corporate groups within a broad context where all relevant regimes and theories interact with each other. Therefore, directors' duties in the vicinity of insolvency, preventive insolvency proceedings, procedural consolidation, international cooperative frameworks and bank resolution regimes are considered together. This book may appeal to academics, students and practitioners within the areas of corporate law, cross-border insolvency law and financial law.

This unique book synthesizes and extends the immigrant-trade literature and provides comprehensive coverage of this timely and important topic. In that vein, the author contributes to the understanding of the relationship between immigration and trade and sheds light on a noteworthy aspect of globalization that both confronts policymakers with challenges and offers the potential to overcome them. Roger White documents the pro-trade influences that immigrants have on US imports from, and exports to, their respective home countries. Variations in the immigrant-trade link are addressed, as are the underlying factors that may determine the existence and operability of that link. The findings have direct implications for US immigration policy, suggesting that too few immigrants are currently admitted to the country and that a more liberal immigration policy may enhance social welfare. This book contains valuable economic analyses for undergraduates, postgraduates, researchers, educated laypersons and practitioners who are interested in public policy, international trade and economics, migration studies, international relations and globalization.

The negotiation of the Free Trade Area between the US and Israel was, at the time, a remarkable political accomplishment, and is a useful case study because it includes all of the industrial and agricultural sectors, thus spanning the full spectrum of issues that would be dealt with in negotiations. In addition, it has the advantage of involving just two countries and lasting only fifteen months from start to finish, facilitating a comprehensive analysis. This book, first published in 1990, provides a valuable analysis of this vital case study of an FTA from commencement to completion.

Since the completion of the original writing in 1978, and the publication of this Garland edition in 1987, several important events came to pass which underscored the importance and relevance of the study of the US foreign trade policy toward steel in the late seventies. One can read the story of US trade policy toward steel in 1977-79 as a critical step in the path which has been moving the US from a policy of organised free trade to one where increasing scope is allowed to market forces.

This book provides a thorough understanding of the key policy debates on international trade and investment for development with a focus on the East African Community (EAC) to strengthen Member States' capacity to develop policies to promote their exports' competitiveness and diversification. Beyond Member States', the book serves as a base for a deeper understanding of the challenges, opportunities and requirements of the intra-continental trade agreement which is now in sight with the ratification of the Tripartite (EAC-COMESA-SADC) Free Trade Area that is critical in addressing key constraints to trade in the African continent. Moreover, the lessons from this edited volume may also extend to the challenges and opportunities of the African Continental Free Trade Area. The book brings together a comprehensive overview and an evidence-based analysis that can be considered best practice in the region. The trade and investment policy analysis of constraints and opportunities aims to improve trade and competitiveness and covers macro- (economy-wide), meso- (sectoral) and micro- (firm or household) levels. This multi-level approach is crucial for understanding how current trade and investment policies limit competitiveness and diversification in order to identify more tangible policy action for overcoming such constraints. The individual contributors follow comprehensive applied empirical approaches, and each chapter generates knowledge needed to identify key challenges and opportunities focusing on research-led policy-relevant approaches that enable readers to better understand national, bilateral, and multilateral cooperation as well as policies for sustainable development in East Africa. The contributors know the EAC context very well as their engagement in policymaking goes beyond the context of the papers they are writing about. The individual chapters were developed as part of a research and capacity building programme under the aegis of ACP and EU that we implemented in 2020-2022. The research project well fits into the Frontiers in African Business Research series as we have many African contributors. The contributions matter to policymakers and academic circles. For students, the book serves as an excellent guide for understanding international trade and investment theories and gaining up-to-date knowledge on developments in the world economy and their effects on developing countries and SDGs. Trade policy researchers and students will be able to extend theories and empirical data to address new and emerging topics beyond the settings already covered in the book.

First published in 1986, this book examines international trade, offering different theories and considering contemporary developments. Professor Hazari connects these theories and developments, such as theories of comparative advantage and factor-price differentials, to economic expansion and terms of international trade. Many key economic problems are related to the theory of international trade, problems such as tariffs, the dependency of developing countries and changing patterns of world trade, and the book shows how theory impinges on these other important issues. The theory of international trade is a popular and widely taught specialism within economics. This book surveys the pure theory which forms the core of the topic.

'International Trade Theories and the Evolving International Economy' provides a much-needed from which to approach this topic, offering a self-contained introduction to the subject of international trade theory. Drawing on a broad range of material this book provides the students with a well-rounded and more broadly informed view of the subject.

This book advances the international debate on the development of e-commerce with focus on emerging ASEAN economies. It provides readers insights on Asia's needs and efforts to improve the regional legal and economic conditions to support e-commerce. This book looks at the rules and regulations on e-commerce, and e-commerce for inclusiveness growth. It provides insights from several ASEAN member states and discovers the requirements for Asian countries to better grasp the new juncture of growth associated with economic digitalization, which also have deep implications on continuous regional integration and community-building.

This Chatham House Paper, first published in 1982, examines the problem of extraterritoriality. A wide range of economic activity is subject to the laws of more than one state, yet there is little provision for resolving situations where states impose contradictory requirements. This paper is particularly concerned with four areas of difficulty: extraterritorial anti-trust enforcement; overlapping regulatory claims; economic regulation for political aims; and different approaches to adjudication.

This book presents a comprehensive survey of Chinese legal and regulatory systems governing international trade, following China's accession to the World Trade Organisation (WTO) in November 2001, and the coming into force of the revised PRC Foreign Trade Law in July 2004. It provides a systematic and in-depth analysis on the text of applicable Chinese laws and rules, with a particular focus on their practical application. It also critically explores whether international trade regulation in China complies with the WTO Agreement both in the text and in spirit and identifies areas where improvements by Chinese trade regulators would be desirable. This book starts with an analysis of basic issues of international trade regulation in China. Part II, covers foreign trading rights, trade restrictions and prohibitions, licensing and quotas, customs regulation, health, safety and technical standards, and trade in technology. The focus is on possible abuses of trade regulations designed to be neutral but which have the effect of discriminating against goods of foreign origin. law, in the form of anti-dumping law, anti-subsidy law, safeguarding measures and trade retaliation. Part IV explores new regulatory issues, including trade promotion, trade and competition, trade and IP rights protection, and resolution of trade disputes. This book combines academic research with detailed information and practical advice on the laws and policies of international trade regulation in China. It should attract not only legal researchers, but also practitioners who have an interest in international trade with China and the relevant legal and regulatory issues.

Over the course of his life, Keynes often abandoned ideas previously developed and at times assumed positions which were contradictory to his earlier thought. This inconsistency, it is charged, is especially true of his thinking in the field of international economics where he alternated between fee trade and protection. This book, first published in 1987, examines in detail the positions that Keynes adopted in the years 1909-1946.

The postwar era was characterized by unprecedented economic expansion. The growth in international trade contributed significantly to this expansion, the growth being the product of the reduction of tariff barriers. As protectionism increased in the 1970s and 80s, the use of non-tariff barriers rose dramatically. This book, first published in 1993, explores how the use of one such barrier, antidumping laws, influenced the US economy.