Recently, the international community has increased its commitment to prosecute malicious dictators by establishing the International Criminal Court, thereby raising its loss of being time-inconsistent (granting amnesties ex post). This deters dictators from committing atrocities. Simultaneously, however, such commitment selects dictators of a worse type. Moreover, when the dictator behaves so badly that the costs of keeping him in place are considered to be greater than those of being time-inconsistent, the international community will still grant amnesty. Consequently, increased commitment to ex post punishment may actually induce dictators to worsen their behaviour, purely to "unlock" the amnesty option and force the international community into time-inconsistency.
{"title":"What Shall We Do with the Bad Dictator?","authors":"S. Larcom, M. Sarr, T. Willems","doi":"10.2139/ssrn.2381429","DOIUrl":"https://doi.org/10.2139/ssrn.2381429","url":null,"abstract":"Recently, the international community has increased its commitment to prosecute malicious dictators by establishing the International Criminal Court, thereby raising its loss of being time-inconsistent (granting amnesties ex post). This deters dictators from committing atrocities. Simultaneously, however, such commitment selects dictators of a worse type. Moreover, when the dictator behaves so badly that the costs of keeping him in place are considered to be greater than those of being time-inconsistent, the international community will still grant amnesty. Consequently, increased commitment to ex post punishment may actually induce dictators to worsen their behaviour, purely to \"unlock\" the amnesty option and force the international community into time-inconsistency.","PeriodicalId":236062,"journal":{"name":"Political Institutions: International Institutions eJournal","volume":"89 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2014-01-19","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"121088503","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Samantha Dickinson, W. Dutton, M. Maciel, Desiree Miloshevic, Vladimir Radunovic
The concept of enhanced cooperation in Internet governance arose with the Tunis Agenda for the Information Society. In the years since the Tunis Agenda was written, “enhanced cooperation” has remained subject to differing interpretations. To assist with ongoing discussions on how to further implement enhanced cooperation in international public policy issues pertaining to the Internet, this paper presents an overview of the World Summit on the Information Society (WSIS) documents and provides of description of a selection of activities in the Internet governance space where governments work with other stakeholders on issues related to international public policy. The selection of activities described in this paper demonstrate that enhanced cooperation is a viable process for considering and arriving at policy in ways that are more likely to be viewed as legitimate by all stakeholders. The alternative — limiting participation to a subset of stakeholders — may result in less robust public policy that fails to be viewed as legitimate by those left out of the process.
{"title":"Enhanced Cooperation in Governance","authors":"Samantha Dickinson, W. Dutton, M. Maciel, Desiree Miloshevic, Vladimir Radunovic","doi":"10.2139/SSRN.2376807","DOIUrl":"https://doi.org/10.2139/SSRN.2376807","url":null,"abstract":"The concept of enhanced cooperation in Internet governance arose with the Tunis Agenda for the Information Society. In the years since the Tunis Agenda was written, “enhanced cooperation” has remained subject to differing interpretations. To assist with ongoing discussions on how to further implement enhanced cooperation in international public policy issues pertaining to the Internet, this paper presents an overview of the World Summit on the Information Society (WSIS) documents and provides of description of a selection of activities in the Internet governance space where governments work with other stakeholders on issues related to international public policy. The selection of activities described in this paper demonstrate that enhanced cooperation is a viable process for considering and arriving at policy in ways that are more likely to be viewed as legitimate by all stakeholders. The alternative — limiting participation to a subset of stakeholders — may result in less robust public policy that fails to be viewed as legitimate by those left out of the process.","PeriodicalId":236062,"journal":{"name":"Political Institutions: International Institutions eJournal","volume":"44 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2014-01-09","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"132284254","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Patrick M. Crowley, Enrique Garcia, Chee-Heong Quah
While it is painfully clear that the ’ever closer’ monetary and financial union in the EU has run into serious trouble there has been very little study of the degree to which the countries have become similar or different in their economic growth dynamics. This paper therefore goes beyond the traditional convergence literature to look at their dynamic convergence and explore the path of their changing similarity in the frequency domain. The results show that while a core group of countries may be developing together, there appears to be at least seven identifiable groups of countries with different growth dynamics. Greece appears to be in a class on its own. Business cycles are important but longer-term trends and higher frequency fluctuations all have a role to play in facilitating adjustment. These results provide awkward implications for policy, particularly for those who thought that simply having a union would draw countries closer together (endogenous OCA criteria).
{"title":"Is Europe Growing Together or Growing Apart?","authors":"Patrick M. Crowley, Enrique Garcia, Chee-Heong Quah","doi":"10.2139/ssrn.2369826","DOIUrl":"https://doi.org/10.2139/ssrn.2369826","url":null,"abstract":"While it is painfully clear that the ’ever closer’ monetary and financial union in the EU has run into serious trouble there has been very little study of the degree to which the countries have become similar or different in their economic growth dynamics. This paper therefore goes beyond the traditional convergence literature to look at their dynamic convergence and explore the path of their changing similarity in the frequency domain. The results show that while a core group of countries may be developing together, there appears to be at least seven identifiable groups of countries with different growth dynamics. Greece appears to be in a class on its own. Business cycles are important but longer-term trends and higher frequency fluctuations all have a role to play in facilitating adjustment. These results provide awkward implications for policy, particularly for those who thought that simply having a union would draw countries closer together (endogenous OCA criteria).","PeriodicalId":236062,"journal":{"name":"Political Institutions: International Institutions eJournal","volume":"54 1 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2013-12-18","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"127694923","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
The Association of Southeast Asian Nations (ASEAN) intends to create the ASEAN Economic Community (AEC) as a single market, to be completed by 2020. The single market will boost the competition in both ASEAN’s internal and external markets, which will spur innovation. Creative innovation will change the production technology to generate enhanced value products and services. Generating this new technology requires R&D investment. This paper discusses the strategic investment decisions which businesses in ASEAN will have to face in a highly competitive environment under uncertain growth conditions, by systematically outlaying several plausible strategic investment outcomes. The game-theoretic real options approach is used to analyze the strategic timing and interplay of strategic investments between Thai and Malaysian consumer firms. In particular, it is used to analyze the valuation of the firms’ strategic investment payoffs.
{"title":"Strategic Investments with Competition Under Uncertainty in the ASEAN/AEC: A Game-Theoretic Real Options Analysis","authors":"C. Los, Klangjai Sangwichitr","doi":"10.2139/ssrn.2373812","DOIUrl":"https://doi.org/10.2139/ssrn.2373812","url":null,"abstract":"The Association of Southeast Asian Nations (ASEAN) intends to create the ASEAN Economic Community (AEC) as a single market, to be completed by 2020. The single market will boost the competition in both ASEAN’s internal and external markets, which will spur innovation. Creative innovation will change the production technology to generate enhanced value products and services. Generating this new technology requires R&D investment. This paper discusses the strategic investment decisions which businesses in ASEAN will have to face in a highly competitive environment under uncertain growth conditions, by systematically outlaying several plausible strategic investment outcomes. The game-theoretic real options approach is used to analyze the strategic timing and interplay of strategic investments between Thai and Malaysian consumer firms. In particular, it is used to analyze the valuation of the firms’ strategic investment payoffs.","PeriodicalId":236062,"journal":{"name":"Political Institutions: International Institutions eJournal","volume":"46 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2013-12-17","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"121563868","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
В данной работе представлен краткий обзор теоретических аспектов проведения региональной политики, а также более подробно исследуются практические аспекты ее реализации в Испании. Для России актуальным и интересным может оказаться опыт проведения региональной политики в данной стране. Обе страны имеют много общего в проблемах развития территорий, в то время как способы их решения различны. Автор выражает благодарность Вахштайну В.С., Володиной И.А., Карповой О.В., Поливановой К.Н за предоставленные материалы и ценные комментарии.This article provides a brief description of theoretical aspects of regional policy and in more detail investigates practical aspects of its implementation in Spanish economy. Its experience could be interesting and actual for Russian researches as both countries have many common problems in development of its territories while ways of their solving are quite different.
{"title":"Зарубежный Опыт Реализации Региональной Политики На Примере Испании (Foreign Experience of Regional Policy on the Example of Spain)","authors":"Alla Sorokina","doi":"10.2139/ssrn.2360772","DOIUrl":"https://doi.org/10.2139/ssrn.2360772","url":null,"abstract":"В данной работе представлен краткий обзор теоретических аспектов проведения региональной политики, а также более подробно исследуются практические аспекты ее реализации в Испании. Для России актуальным и интересным может оказаться опыт проведения региональной политики в данной стране. Обе страны имеют много общего в проблемах развития территорий, в то время как способы их решения различны. Автор выражает благодарность Вахштайну В.С., Володиной И.А., Карповой О.В., Поливановой К.Н за предоставленные материалы и ценные комментарии.This article provides a brief description of theoretical aspects of regional policy and in more detail investigates practical aspects of its implementation in Spanish economy. Its experience could be interesting and actual for Russian researches as both countries have many common problems in development of its territories while ways of their solving are quite different.","PeriodicalId":236062,"journal":{"name":"Political Institutions: International Institutions eJournal","volume":"13 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2013-11-27","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"122136530","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
The 8th G20 Leaders' Summit was held in St. Petersburg, Russia on September 5-6, 2013. At this year's summit, along with the member countries, 6 invitees (Spain, Brunei, Kazakhstan, Ethiopia, Senegal, Singapore) and heads of 7 international organizations (UN, World Bank, IMF, FSB, OECD, WTO, ILO) were invited to participate in the premier forum. According to its troika system, Mexico (2012 chair), Russia (2013 chair), and Australia (2014 chair) have worked closely to draw up the agendas and produced the leader's declaration for this year's summit. Substantial improvements have been made within the summit structure; the 'Financial Track' has been delegated to deal with the financial and fiscal challenges that grew with expanding agendas, which were becoming a burden for Sherpas. For the main agendas, the forum proposed the action plan (for each country) and will be monitoring each agenda via the accountability report. A detailed joint reports have been drafted by experts and working groups to settle the concern of summit being left as a mere 'talk shop'. The main achievements entail the coop-eration between G20 countries for job creation, fiscal consolidation, and tax justice. G20 Leaders stress the importance of bolstering G20's functions with the aim of creating strong, inclusive growth and jobs, as well as securing the sustainability of public finances. The G20 St. Petersburg Summit was held in the midst of a gloomy world economic climate; where ameliorating the unemployment, especially youth unemployment, sat as the universal priority. Acknowledging this; the chair country, Russia, emphasized on; 'growth and job creation', and put together the Leader's Declaration, composed of 114 sections, and 11 annex documents with detailed contents of agreement for each agenda. To commemorate the 5th anniversary of the G20 Leaders' Summit, 'G20 5th Anniversary Vision Statement' was also announced. During which, leaders concurred that the collaborate work of G20 members was vital in recovering the world economy from the financial crisis in 2008. The statement also highlights the importance of inclusive growth, orderly global economy, market openness, and other factors which contributed to strong, sustainable, and balanced growth.
{"title":"G20 St. Petersburg Summit Outcomes and Future Tasks","authors":"D. Yoon, Su Bin Kim","doi":"10.2139/ssrn.2360995","DOIUrl":"https://doi.org/10.2139/ssrn.2360995","url":null,"abstract":"The 8th G20 Leaders' Summit was held in St. Petersburg, Russia on September 5-6, 2013. At this year's summit, along with the member countries, 6 invitees (Spain, Brunei, Kazakhstan, Ethiopia, Senegal, Singapore) and heads of 7 international organizations (UN, World Bank, IMF, FSB, OECD, WTO, ILO) were invited to participate in the premier forum. According to its troika system, Mexico (2012 chair), Russia (2013 chair), and Australia (2014 chair) have worked closely to draw up the agendas and produced the leader's declaration for this year's summit. Substantial improvements have been made within the summit structure; the 'Financial Track' has been delegated to deal with the financial and fiscal challenges that grew with expanding agendas, which were becoming a burden for Sherpas. For the main agendas, the forum proposed the action plan (for each country) and will be monitoring each agenda via the accountability report. A detailed joint reports have been drafted by experts and working groups to settle the concern of summit being left as a mere 'talk shop'. The main achievements entail the coop-eration between G20 countries for job creation, fiscal consolidation, and tax justice. G20 Leaders stress the importance of bolstering G20's functions with the aim of creating strong, inclusive growth and jobs, as well as securing the sustainability of public finances. The G20 St. Petersburg Summit was held in the midst of a gloomy world economic climate; where ameliorating the unemployment, especially youth unemployment, sat as the universal priority. Acknowledging this; the chair country, Russia, emphasized on; 'growth and job creation', and put together the Leader's Declaration, composed of 114 sections, and 11 annex documents with detailed contents of agreement for each agenda. To commemorate the 5th anniversary of the G20 Leaders' Summit, 'G20 5th Anniversary Vision Statement' was also announced. During which, leaders concurred that the collaborate work of G20 members was vital in recovering the world economy from the financial crisis in 2008. The statement also highlights the importance of inclusive growth, orderly global economy, market openness, and other factors which contributed to strong, sustainable, and balanced growth.","PeriodicalId":236062,"journal":{"name":"Political Institutions: International Institutions eJournal","volume":"38 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2013-11-22","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"122564633","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
The euro crisis remains unresolved even as financial markets may seem calm for now. The current euro regime is inherently flawed. Recent reforms have failed to turn the dysfunctional euro regime into a viable one. The investigation is informed by the "cartalist" critique of traditional "optimum currency area" theory (Goodhart 1998). Various proposals to rescue the euro are assessed and found lacking. A Euro Treasury scheme operating on a strict rule and specifically designed not to be a transfer union is proposed here as condition sine qua non for healing the euro's potentially fatal birth defects. The Euro Treasury proposed here is the missing element that will mend the current fiscal regime that is unworkable without it. The proposed Euro Treasury scheme would end the currently unfolding euro calamity by switching policy from a public thrift campaign that can only impoverish Europe to a public investment campaign designed to secure Europe's future. No mutualization of existing national public debts is involved. Instead, the Euro Treasury is established as a means to pool eurozone public investment spending and have it funded by proper eurozone treasury securities.
{"title":"Lost at Sea: The Euro Needs a Euro Treasury","authors":"Joerg Bibow","doi":"10.2139/SSRN.2358070","DOIUrl":"https://doi.org/10.2139/SSRN.2358070","url":null,"abstract":"The euro crisis remains unresolved even as financial markets may seem calm for now. The current euro regime is inherently flawed. Recent reforms have failed to turn the dysfunctional euro regime into a viable one. The investigation is informed by the \"cartalist\" critique of traditional \"optimum currency area\" theory (Goodhart 1998). Various proposals to rescue the euro are assessed and found lacking. A Euro Treasury scheme operating on a strict rule and specifically designed not to be a transfer union is proposed here as condition sine qua non for healing the euro's potentially fatal birth defects. The Euro Treasury proposed here is the missing element that will mend the current fiscal regime that is unworkable without it. The proposed Euro Treasury scheme would end the currently unfolding euro calamity by switching policy from a public thrift campaign that can only impoverish Europe to a public investment campaign designed to secure Europe's future. No mutualization of existing national public debts is involved. Instead, the Euro Treasury is established as a means to pool eurozone public investment spending and have it funded by proper eurozone treasury securities.","PeriodicalId":236062,"journal":{"name":"Political Institutions: International Institutions eJournal","volume":"177 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2013-11-21","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"116143524","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
The International Organization of Securities Commissions (IOSCO) has formalized a set of principles designed to restore confidence in a range of systemically important financial benchmarks. The alacrity with which IOSCO has moved and its endorsement by the G20 is notable. It is far from clear, however, whether the principles provide a basis for sustainable reform. This derives from diametrically conflicting views within IOSCO as to whether benchmarks based on hypothetical submissions can be reformed or must be replaced by systems anchored in observed transactions. As a consequence the principles paper over rather than resolve core ethical deficiencies exposed in a still metastasizing scandal. The paper examines how and why the IOSCO process has privileged symbolism over substance. It then evaluates an alternative approach. The Monetary Authority of Singapore (MAS) has developed an innovative solution whereby contributing banks to the Singapore Interbank Offered Rate (Sibor) are mandated to privilege the integrity of the benchmark over individual institutional reputational or litigation risk. This regulatory re-engineering of risk management integrates rules, principles and social norms to forge restraint. The paper concludes that this holistic approach, once calibrated to the specific political, economic and cultural dimensions of specific markets, is more likely to embed ethical decision-making, reduce the risk of institutional corruption and achieve socially beneficial outcomes.
{"title":"Singapore Sling: How Coercion May Cure the Hangover in Financial Benchmark Governance","authors":"J. O'Brien","doi":"10.2139/ssrn.2350445","DOIUrl":"https://doi.org/10.2139/ssrn.2350445","url":null,"abstract":"The International Organization of Securities Commissions (IOSCO) has formalized a set of principles designed to restore confidence in a range of systemically important financial benchmarks. The alacrity with which IOSCO has moved and its endorsement by the G20 is notable. It is far from clear, however, whether the principles provide a basis for sustainable reform. This derives from diametrically conflicting views within IOSCO as to whether benchmarks based on hypothetical submissions can be reformed or must be replaced by systems anchored in observed transactions. As a consequence the principles paper over rather than resolve core ethical deficiencies exposed in a still metastasizing scandal. The paper examines how and why the IOSCO process has privileged symbolism over substance. It then evaluates an alternative approach. The Monetary Authority of Singapore (MAS) has developed an innovative solution whereby contributing banks to the Singapore Interbank Offered Rate (Sibor) are mandated to privilege the integrity of the benchmark over individual institutional reputational or litigation risk. This regulatory re-engineering of risk management integrates rules, principles and social norms to forge restraint. The paper concludes that this holistic approach, once calibrated to the specific political, economic and cultural dimensions of specific markets, is more likely to embed ethical decision-making, reduce the risk of institutional corruption and achieve socially beneficial outcomes.","PeriodicalId":236062,"journal":{"name":"Political Institutions: International Institutions eJournal","volume":"41 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2013-11-05","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"130823252","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
The direct selling retail channel is often abused by rogue trades which triggers Draconian responses from national legislators. As a result, the direct selling industry in the EU is restricted by a number divergent trade barriers. At the chore of the problem lies the conflict of interest between the liberalization of trade in respect of the direct selling industry and Member States' freedom to impose stringent regulations in order to favor consumers’ economic interests.The current paper assesses direct selling trade barriers' compatibility with European law, and in particular, the fundamental freedoms of the internal market and the relevant secondary law regulating consumer protection, fair trading law and the provision of services.Through the comparative analysis of the CJEU's jurisprudence concerning four direct selling trade barriers, it was found that the unworkable rigidity of the Keck formula has significantly hampered the Court's efforts to give clear rulings on the assessed cases, although curiously, in none of the four cases did the Court pronounce that direct selling trade barriers were in compliance with the free movement of goods principle.The Consumer Rights Directive is expected to bring about much needed clarity and legal certainty in respect to direct selling trade barriers. Complemented by the assessment of relevant provisions of the Unfair Commercial Practices Directive and the Services Directive, it was concluded that as of the entry into force of the Consumer Rights Directive, the introduction or maintenance of direct selling trade barriers will no longer be legitimate under European law.
{"title":"The (In)Compatibility of Direct Selling Trade Barriers with EU Law: Before and After the Consumer Rights Directive","authors":"Orsolya Tokaji-Nagy","doi":"10.2139/SSRN.2347507","DOIUrl":"https://doi.org/10.2139/SSRN.2347507","url":null,"abstract":"The direct selling retail channel is often abused by rogue trades which triggers Draconian responses from national legislators. As a result, the direct selling industry in the EU is restricted by a number divergent trade barriers. At the chore of the problem lies the conflict of interest between the liberalization of trade in respect of the direct selling industry and Member States' freedom to impose stringent regulations in order to favor consumers’ economic interests.The current paper assesses direct selling trade barriers' compatibility with European law, and in particular, the fundamental freedoms of the internal market and the relevant secondary law regulating consumer protection, fair trading law and the provision of services.Through the comparative analysis of the CJEU's jurisprudence concerning four direct selling trade barriers, it was found that the unworkable rigidity of the Keck formula has significantly hampered the Court's efforts to give clear rulings on the assessed cases, although curiously, in none of the four cases did the Court pronounce that direct selling trade barriers were in compliance with the free movement of goods principle.The Consumer Rights Directive is expected to bring about much needed clarity and legal certainty in respect to direct selling trade barriers. Complemented by the assessment of relevant provisions of the Unfair Commercial Practices Directive and the Services Directive, it was concluded that as of the entry into force of the Consumer Rights Directive, the introduction or maintenance of direct selling trade barriers will no longer be legitimate under European law.","PeriodicalId":236062,"journal":{"name":"Political Institutions: International Institutions eJournal","volume":"18 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2013-10-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"122246538","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
This article aims to detect the degree of trade integration since the fifth EU enlargement in 2004 between the EU15 and the 10 new EU members (EU10). We develop a theoretical framework whose principal building blocks derive from Anderson and van Wincoop (2003). Our empirical analysis implements data of trade flows between EU10 countries and 180 partners from 1999 to 2011. Using the difference-in-differences strategy, we estimate a gravity equation that controls for unobservable heterogeneous characteristics. Our results show that though trade exchanges between the EU10 and EU15 intensified after 2004, the impact of integration has been much more significant to the EU10.
{"title":"Which Commercial Partners are Important for the Most Recently Admitted EU Countries?","authors":"Alicia Gómez‐Tello","doi":"10.2139/ssrn.2342101","DOIUrl":"https://doi.org/10.2139/ssrn.2342101","url":null,"abstract":"This article aims to detect the degree of trade integration since the fifth EU enlargement in 2004 between the EU15 and the 10 new EU members (EU10). We develop a theoretical framework whose principal building blocks derive from Anderson and van Wincoop (2003). Our empirical analysis implements data of trade flows between EU10 countries and 180 partners from 1999 to 2011. Using the difference-in-differences strategy, we estimate a gravity equation that controls for unobservable heterogeneous characteristics. Our results show that though trade exchanges between the EU10 and EU15 intensified after 2004, the impact of integration has been much more significant to the EU10.","PeriodicalId":236062,"journal":{"name":"Political Institutions: International Institutions eJournal","volume":"44 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2013-10-18","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"129641246","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
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