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Full-Text Articles in International Economics

Currency Wars And The Erosion Of Dollar Hegemony, Lan Cao Dec 2015

Currency Wars And The Erosion Of Dollar Hegemony, Lan Cao

Lan Cao

A currency war is being waged against the dollar-based international economic system established in Bretton Woods after World War II. Much attention has been paid to the use of force and threats to the peace in Iraq, Afghanistan and Syria. But there is little law scholarship that examines threats to the dollar and the dollar-based system. And yet, challenging a country’s currency means challenging it on multiple fundamental fronts. Stocks, bonds, commodities, derivatives and other investments are all priced in a nation’s currency. If the dollar is undermined, the American economy itself and the existing international economic system are also …


Responsible International Citizenry In The Asian Century: Why Failure To Meet International Obligations Adversely Affects Australian National Interests, Danielle Ireland-Piper Sep 2015

Responsible International Citizenry In The Asian Century: Why Failure To Meet International Obligations Adversely Affects Australian National Interests, Danielle Ireland-Piper

Danielle Ireland-Piper

If Australia is to secure its financial and security interests in the Asian century, then it must build effective working relationship in the Asia-Pacific. To do so, Australia must build familial and not merely transactional relationship in Asia. In turn, this requires Australia to present as a responsible international citizen. This image of responsible citizenry, however, is difficult to achieve when the Australian Constitution permits race-based laws and Australia’s approach to regional asylum seeker management may violate international law. This is because the hypocrisy inherent in non-compliance impedes Australia's capacity to build meaningful relationship in the Asian region. in that …


Cartelizing Taxes: Understanding The Oecd's Campaign Against Harmful Tax Competition, Andrew P. Morriss, Lotta Moberg Jul 2015

Cartelizing Taxes: Understanding The Oecd's Campaign Against Harmful Tax Competition, Andrew P. Morriss, Lotta Moberg

Andrew P. Morriss

Formed in 1961 to promote global economic and social well-being, the Organisation for Economic Co-operation and Development (OECD) has become the collective voice of rich countries on international tax issues. After an initial focus on improving commerce through addressing double taxation issues, the organization shifted to a focus on restricting tax competition and increasing automatic exchanges of tax information. In this paper we analyze the reasons for this shift in policy focus. After describing the history of the OECD's work on taxation, we examine the OECD's project against "harmful tax competition" as it has played out since its launch in …


Navigating The Expanding Universe Of International Treaties On Foreign Investment-- Creation And Use Of A Critical Index, Julien Chaisse Mar 2015

Navigating The Expanding Universe Of International Treaties On Foreign Investment-- Creation And Use Of A Critical Index, Julien Chaisse

Julien Chaisse

There have been many successful attempts to analyse most of the rules and principles that make up the substance of the international law of foreign investment. There is, however, a lack of a general theory, or, at least, a tool which would allow us to analyse, compare, and make sense of this expanding patchwork of international rules on foreign investment. This article precisely aims at explaining how a combination of legal and economic perspectives can help to break new ground and allow both economists and lawyers to further grasp and analyse the complexity of the current regulatory framework. We created …


Is The Wto Quietly Fading Away?: The New Regionalism And Global Trade Rules, Stephen J. Powell, Trisha Low Dec 2014

Is The Wto Quietly Fading Away?: The New Regionalism And Global Trade Rules, Stephen J. Powell, Trisha Low

Stephen Joseph Powell

While scholars and governments alike view the liberalization of international trade as a positive development, they disagree on the medium that will accomplish this objective with the highest economic returns. Some experts believe that multilateralism through the 150+ member World Trade Organization (WTO) is the only way to achieve truly open and efficient trade. Others view multilateralism as but an aspiration and find that regionalism offers the only viable prospect for the meaningful further opening of markets. In light of what we label the "new regionalism," our paper explores in detail the positive and negative effects of regional trade arrangements …


Chinese Privatization: Between Plan And Market, Lan Cao Mar 2014

Chinese Privatization: Between Plan And Market, Lan Cao

Lan Cao

No abstract provided.


Microfoundations Of The Rule Of Law, Gillian K. Hadfield, Barry R. Weingast Dec 2013

Microfoundations Of The Rule Of Law, Gillian K. Hadfield, Barry R. Weingast

Gillian K Hadfield

Many social scientists rely on the rule of law in their accounts of political or economic development. Many however simply equate law with a stable government capable of enforcing the rules generated by a political authority. As two decades of largely failed efforts to build the rule of law in poor and transition countries and continuing struggles to build international legal order demonstrate, we still do not understand how legal order is produced, especially in places where it does not already exist. We here canvas literature in the social sciences to identify the themes and gaps in the existing accounts. …


Corporate Social Responsibility In A Remedy-Seeking Society: A Public Choice Perspective, Donald J. Kochan Dec 2013

Corporate Social Responsibility In A Remedy-Seeking Society: A Public Choice Perspective, Donald J. Kochan

Donald J. Kochan

Written for the Chapman Law Review Symposium on “What Can Law & Economics Teach Us About the Corporate Social Responsibility Debate?,” this Article applies the lessons of public choice theory to examine corporate social responsibility. The Article adopts a broad definition of corporate social responsibility activism to include both (1) those efforts that seek to convince corporations to voluntarily take into account corporate social responsibility in their own decision-making, and (2) the efforts to alter the legal landscape and expand legal obligations of corporations beyond traditional notions of harm and duty so as to force corporations to invest in interests …


Legal Mechanization Of Corporate Social Responsibility Through Alien Tort Statute Litigation: A Response To Professor Branson With Some Supplemental Thoughts, Donald J. Kochan Jul 2011

Legal Mechanization Of Corporate Social Responsibility Through Alien Tort Statute Litigation: A Response To Professor Branson With Some Supplemental Thoughts, Donald J. Kochan

Donald J. Kochan

This Response argues that as ATS jurisprudence “matures” or becomes more sophisticated, the legitimate limits of the law regress. The further expansion within the corporate defendant pool – attempting to pin liability on parent, great grandparent corporations and up to the top – raises the stakes and complexity of ATS litigation. The corporate social responsibility discussion raises three principal issues about how a moral corporation lives its life: how a corporation chooses its self-interest versus the interests of others, when and how it should help others if control decisions may harm the shareholder owners, and how far the corporation must …


Knowledge, Capabilities And Manufacturing Innovation: A Us-Europe Comparison, Stephen Roper, Jan Youtie, Philip Shapira, Andrea Fernandez-Ribas Mar 2010

Knowledge, Capabilities And Manufacturing Innovation: A Us-Europe Comparison, Stephen Roper, Jan Youtie, Philip Shapira, Andrea Fernandez-Ribas

Andrea Fernandez-Ribas

This paper presents a comparative analysis of factors contributing to the innovation performance of manufacturing firms in Georgia (USA), Wales (UK), the West Midlands (UK), and Catalonia (Spain). Enabled by comparable survey data, multivariate probit models are developed to estimate how various types of firms’ innovative activities are influenced by links to external knowledge sources, internal resources, absorptive capacity, and public innovation support. The results suggest the potential for mutual learning. For the European study regions there are insights about how universities in Georgia support innovation. For Georgia and Catalonia there are lessons from UK firms about better capturing potential …


Flying Passports Of Convenience, Karl T. Muth Dec 2008

Flying Passports Of Convenience, Karl T. Muth

Karl T Muth

This paper proposes an economic alternative to the legal construct of citizenship that currently dominates international law.


Strategic Considerations In The Emergence Of Private Action Rights, Reza Rajabiun Dec 2008

Strategic Considerations In The Emergence Of Private Action Rights, Reza Rajabiun

Reza Rajabiun

The design of mechanisms for the enforcement of rules regarding anticompetitive practices has been the subject of considerable controversy in both developed and developing countries. Public competition authorities have advantages in terms of scale economies and coordination of competing policy objectives. Private rights of action enhance the capacity of legal regimes to generate information and deter collusive agreements and exclusionary practices. Private enforcement also increases the transaction costs of regulatory capture. Given these differences, mixed regimes are likely to be superior to purely public or private arrangements. However, most national jurisdictions grant exclusive authority to public agencies and prosecutors. This …


Competition Law And The Economy In The Russian Federation, 1990-2006, Reza Rajabiun Dec 2008

Competition Law And The Economy In The Russian Federation, 1990-2006, Reza Rajabiun

Reza Rajabiun

Most developing and transition countries adopted statutes prohibiting anticompetitive agreements and abusive practices during the 1980's and 1990's. The effectiveness of these laws is nevertheless widely debated. This paper contributes to the literature by conducting an event study of the adoption of Russian competition laws in the early years of transition, the subsequent economic developments and the legislative reform process of 2002-2006. An examination of the substantive prohibitions and enforcement data reveals that Russian competition laws relied on complex standards and imposed weak constraints on anticompetitive practices. The more recent shift to simpler and more predictable per se prohibitions against …


Competition Law As Development Policy: Evidence From Poland, Reza Rajabiun Dec 2008

Competition Law As Development Policy: Evidence From Poland, Reza Rajabiun

Reza Rajabiun

The relationship between the design of competition laws and economic outcomes remains the subject of considerable controversy in both law and economics. Recent cross-national studies suggest that effective legal constraints against anticompetitive practices can enhance prospects for economic development by increasing the number of market participants and the quality of broader political and economic institutions. This paper explores the linkages between regulatory constraints against anticompetitive practices and the efficiency of market mechanisms by focusing on the experience in Poland between the collapse of central planning and regulatory harmonization pursuant to European Union accession. The analysis suggests that per se prohibitions …


The Place Of Human Rights Law In World Trade Organization Rules, Stephen Joseph Powell Feb 2004

The Place Of Human Rights Law In World Trade Organization Rules, Stephen Joseph Powell

Stephen Joseph Powell

WTO rules routinely are linked to the inability of nations to make meaningful progress in sharpening environmental and other human rights protections, for example, the failure of the 2002 Johannesburg World Summit on Sustainable Development to usher in any new treaties despite the bright promise of the Rio Earth Summit of the previous decade. The common brief of environmental, medical, and development interest groups is that the market principles of supply and demand, comparative advantage, and non-discrimination on which global trade rules are built have encumbered pursuit by nations of fundamental non-economic objectives that must in any reasoned legal hierarchy …