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Articles 1 - 8 of 8
Full-Text Articles in Law
The Legal And Economic Principles Of World Trade Law: National Treatment, Gene M. Grossman, Henrik Horn, Petros C. Mavroidis
The Legal And Economic Principles Of World Trade Law: National Treatment, Gene M. Grossman, Henrik Horn, Petros C. Mavroidis
Faculty Scholarship
The primary objective of most trade agreements is to restrain members' use of trade policies for protectionist purposes. But it would be pointless to restrict the application of border instruments without regulating the possible use of domestic policies for protectionist purpose. To this end, most agreements include an obligation for National Treatment (NT) of foreign products. The NT provision in the GATT appears in Art. III, which applies to most government actions that have impact trade. It requires that imported products be treated as favorably by domestic policy as similar, indigenous products. This study offers suggestions based on legal and …
Free Lunches? Wto As Public Good, And The Wto's View Of Public Goods, Petros C. Mavroidis
Free Lunches? Wto As Public Good, And The Wto's View Of Public Goods, Petros C. Mavroidis
Faculty Scholarship
The WTO can be viewed as a public good in that it provides a forum for negotiations which also produces the necessary legal framework to act as a support for agreed liberalization. To avoid any misunderstandings, in this article the discussion focuses on the WTO as a forum and a set of agreements, not on free trade. Since the legal agreements coming under its aegis are for good reasons incomplete, the WTO provides an additional public good by ‘completing’ the original contract through case law. The importance of this feature increases over time as tariffs are driven towards irrelevance. In …
I Now Recognize You (And Only You) As Equal: An Anatomy Of (Mutual) Recognition Agreements In The Gats, Juan A. Marchetti, Petros C. Mavroidis
I Now Recognize You (And Only You) As Equal: An Anatomy Of (Mutual) Recognition Agreements In The Gats, Juan A. Marchetti, Petros C. Mavroidis
Faculty Scholarship
There is a plethora of writings regarding mutual recognition, which has long been recognized as a useful, and potentially powerful, means to tackle regulatory barriers impeding trade in services. Paradoxically, very little attention has been paid to empirical issues regarding recognition, such as the extent of unilateral or mutual recognition around the world. Observers, from both academic and policy quarters, have therefore been left with the impression that either recognition agreements were kept relatively secret, so that their benefits would not have to be extended to third parties, or they were not really so widespread as their merits would warrant, …
Securities Class Actions Against Foreign Issuers, Merritt B. Fox
Securities Class Actions Against Foreign Issuers, Merritt B. Fox
Faculty Scholarship
This Article addresses the fundamental question of whether, as a matter of good policy, it is ever appropriate that a foreign issuer be subject to the U.S. fraud-on-the-market private damages class action liability regime, and, if so, by what kinds of claimants and under what circumstances. The bulk of payouts under the U.S. securities laws arise out of fraud-on-the-market class actions – actions against issuers on behalf of secondary market purchasers of their shares for trading losses suffered as a result of issuer misstatements in violation of Rule 10b-5. In the first decade of this century, foreign issuers became frequent …
Export Pioneers In Latin America, Charles F. Sabel, Eduardo Fernández-Arias, Ricardo Hausmann, Andrés Rodriguez-Clare, Ernesto Stein
Export Pioneers In Latin America, Charles F. Sabel, Eduardo Fernández-Arias, Ricardo Hausmann, Andrés Rodriguez-Clare, Ernesto Stein
Faculty Scholarship
Export Pioneers in Latin America analyzes a series of case studies of successful new export activities throughout the region to learn how pioneers jump-start a virtuous process leading to economic transformation. The cases of blueberries in Argentina, avocados in Mexico, and aircraft in Brazil illustrate how an initially successful export activity did not stop with the discovery of a single viable product, but rather continued to evolve. The book explores the conjecture that costly burdens to entrepreneurial self-discovery (due to the deterrent effects of imitation by competitors) have held back potential exporters in post-reform Latin America. It also considers the …
Arbitrating Trade Disputes (Who's The Boss?), Petros C. Mavroidis
Arbitrating Trade Disputes (Who's The Boss?), Petros C. Mavroidis
Faculty Scholarship
World Trade Organization (“WTO”) dispute settlement has attracted a lot of interest over the years and there is a plethora of academic papers focusing on various aspects of this system. Paradoxically, there is little known about the identity of the WTO judges: since, at the end of the day, the WTO has evolved into the busiest forum litigating state-to-state disputes. There are many writings regarding the appointment process in other international tribunals. At the risk of doing injustice to many papers on this issue, we should mention the following works: Terris et al. look at various courts and especially those …
One (Firm) Is Not Enough: A Legal-Economic Analysis Of Ec-Fasteners, Chad P. Brown, Petros C. Mavroidis
One (Firm) Is Not Enough: A Legal-Economic Analysis Of Ec-Fasteners, Chad P. Brown, Petros C. Mavroidis
Faculty Scholarship
The WTO’s Appellate Body (AB) dealt with a number of issues for the first time in the Report of EC-Fasteners. Importantly, the AB discussed the consistency of the European Union (EU) regulation with the multilateral rules on the conditions for deviating from the obligation to calculate individual dumping margins. Although China formally won the argument, the AB may have opened the door to treat China as a non-market economy (NME) even beyond 2016 when China’s NME-status was thought to expire under the terms of China’s 2001 WTO Accession Protocol. The AB further dealt with numerous other issues ranging from statistical …
The Brussels Effect, Anu Bradford
The Brussels Effect, Anu Bradford
Faculty Scholarship
This Article examines the unprecedented and deeply underestimated global power that the EU is exercising through its legal institutions and standards, and how it successfully exports that influence to the rest of the world. Without the need to use international institutions or seek other nations' cooperation, the EU has a strong and growing ability to promulgate regulations that become entrenched in the legal frameworks of developed and developing markets alike, leading to a notable "Europeanization" of many important aspects of global commerce. The Article identifies the precise conditions for and the specific mechanism through which this externalization of EU's standards …