DOES INTERNATIONAL TRADE HURT THE ENVIRONMENT? OLD THEORY,NEW DEVELOPMENTS

In this article, it is shown that if a country specializes in the production of dirty goods it does not necessarily become dirtier as the pollution haven hypothesis predicts. A trade equilibrium is constructed where a rich country specializes in the production of the clean good and a poor country specializes in the production of the dirty good and both countries become cleaner after the gains from trade are internalized. The result casts serious doubts about the effectiveness of using trade restrictions to improve the environmental conditions of developing countries as some environmental groups have proposed. In this particular case, the use of restrictions is counterproductive not only for the poor country but also for the rich country.     

Openness to Foreign Direct Investment in Services: An International Comparative Analysis

This paper quantifies and analyses the extent of restrictions on inward foreign direct investment (FDI) in the service sector in developed and developing countries. Services account for an increasing share of global FDI. Recognition of the economic benefits of FDI clashes with nationalistic economic, political and national security concerns about foreign takeover of ‘strategic’ sectors, such as telecommunications, finance and transport. Consequently, almost all countries impose restrictions on FDI in services. Several different types of restrictions are considered: limitations on foreign ownership, screening or notification procedures, management restrictions and operational restrictions. These restrictions on FDI are computed at the industry level and then aggregated into a single measure for the service sector as a whole for 23 developed and 50 developing countries. Notwithstanding the worldwide trend towards liberalisation of restrictions, there remain substantial disparities between regions and individual countries in the severity of restrictions on inward FDI in services. The lowest restriction scores are in Europe and Latin America, whereas East Asia, South Asia and the Middle East have the highest levels of restrictions. The evolution over time of FDI restrictions is also presented for developed countries over the period 1981–2005, showing liberalisation in all countries, especially since the early 1990s, although to varying extents across countries. The severity of restrictions also differs considerably by sector, with electricity, telecommunications, transport and finance most restricted. The paper also finds a strong negative correlation of restrictiveness with inward stocks of FDI in services, suggesting that restrictions impede FDI.     

Patterns of trade restrictiveness in online platforms: A first look

This paper develops a digital platform restrictiveness index for 64 countries based on ECIPE’s Digital Trade Estimates database and the Digital Trade Restrictiveness Index. We identify specific restrictions that affect online platforms with a focus on online search, e-commerce and social media. The results show that both OECD and non-OECD countries show high levels of trade restrictions on online platforms. Moreover, some of the most restricted countries are characterised by large markets, signifying that a substantial part of the global economy gravitates towards restricting online platforms. Based on the platform restrictiveness index, we perform an econometric analysis showing that trade restrictions for online platforms are significantly associated with lower contributions of the ICT sector to productivity growth in the entire economy. The results suggest that reducing restrictions on online platforms can increase the ICT’s contribution to overall productivity growth towards a level seen before the global financial crisis. Sectors that would benefit the most are those that make wider use of online platforms and the Internet, including information services, business services and financial services.     

Can import controls really be helpful?

In Great Britain wide circles have for some time reflected on the advantages of import restrictions as a means of increasing employment. The following article examines the validity of some major arguments brought forward in support of import curbs.     

The 'privacy in employment' critique: a consideration of some of the arguments for 'ethical' HRM professional practice

A developing area of interest in ethics and in legal studies is privacy protection. This paper focuses on privacy protection in employment, and examines some of the arguments of commentators who seek to limit the information obtained from job candidates and employees. The ethical underpinnings of these restrictions are discussed in terms of how privacy in employment relations can be understood as functioning to provide a context for the maintenance and development of self-identity, an autonomous self-concept, the practice of meaningful autonomy, and a pluralistic social order. In the second part of the paper the proposed restrictions are examined in terms of their impact on economic welfare. The latter consideration suggests that HRM and allied professional groupings that unilaterally implemented the critics' proposals could be deemed to be paternalistic. The potential relevance of legal regulation to resolve this issue for 'ethical' HRM professional practice and its significance in the area of genetic discrimination are discussed.     

Dealing with complaints about advertising in Australia: the importance of regulatory self-discipline

Many countries have imposed restrictions on tobacco advertising in the belief that these will curb tobacco consumption. These beliefs rely on the ‘strong’ theory of advertising, which holds that advertising exerts a powerful persuasive influence on consumers' behaviour. However, the research examining the advertising-consumption relationship has reached contradictory conclusions and led some to argue that such bans are ineffective.

In contrast, proponents of the ‘weak’ theory of advertising suggest that advertising reinforces rather than initiates consumers' behaviour. This paper explores tobacco advertising restrictions in the context of the weak theory and suggests that the apparent failure of increased restrictions to depress either juvenile or aggregate tobacco consumption is unsurprising. The paper concludes that decisions about tobacco advertising restrictions are political and should be based on ethical principles and not on assumed behavioural consequences, which are unsupported by modern advertising theory.     

Financial integration and banking crisis. A critical analysis of restrictions on capital flows

We investigate the effect of financial integration on a banking crisis. In contrast to existing works, we allow for capital restrictions while studying the impact of financial integration on a banking crisis. Using firm-level lending and borrowing information in the global market of syndicated loans; we generate aggregate measures of financial integration and examine how countries with capital flow restrictions thrive in the wake of a banking crisis. We concentrate on basic network measures of integration for a panel of 62 countries that allow for capital restriction at any time within the sample period. Financial integration increases the incidence of a banking crisis, and capital restrictions worsen a banking crisis. However, capital restrictions reduce the negative impact of financial integration on the incidence of a banking crisis. Thus, financial integration becomes beneficial when countries allow for some forms of capital control.     

Payday lending,crime, and bankruptcy: Is there a connection?

The payday lending industry has been the subject of controversy over the years. This is largely due to the high fee structure of payday loans and the view of some that the industry targets economically vulnerable groups. For these reasons, some states prohibit payday lending, while others impose regulatory restrictions on their operations. Despite the prohibitions and restrictions, the industry nonetheless serves a significant segment of the U.S. population. Our purpose is to determine whether in addition to providing loans to individuals, access to payday lenders is associated with less property crime and fewer bankruptcies. Using a unique data set obtained directly from all state regulatory authorities, we find evidence, contrary to some earlier studies, that the presence of payday lenders may help reduce property crime as well as personal bankruptcies.     

Luxury brand advertising in Argentina: Changes following import restrictions

This study explores how the change of an economic policy affects advertising practices in Argentina. A content analysis of luxury brand ads placed in fashion magazines in Argentina was conducted to investigate changes in the ads in the wake of the import restrictions. The data supports the notion that some ads reflect societal changes. After the restrictions, ads were more likely to be factual, less likely to convey emotional messages, and ad appeals tended to be simple. Additionally, findings indicate that ads used different visual cues to evoke stronger exclusivity, luxuriousness, and global feelings. Ad components that are deeply rooted in local cultures, however, were not influenced by the restrictions.     

Can Export Restrictions be Disciplined Through the World Trade Organisation?

A number of major agricultural exporting countries responded to high food prices from 2007 to 2011 by imposing export restrictions on agricultural commodities in efforts to constrain domestic food price inflation. These restrictions reduced the volume of internationally traded food and exacerbated international price spikes. Net food‐importing countries were faced with growing import bills, and non‐governmental organisations that target food security scaled‐back programme commitments and appealed for increased funding. There have subsequently been a chorus of calls for the development of a formal international framework that could discipline the use of agricultural export restrictions; the agreements of the World Trade Organisation (WTO) have been targeted as possible fora for such disciplines. We present a framework in which the efficacy of such disciplines can be analysed and conclude that constraints on agricultural export restrictions are not likely to be effective within the WTO's Dispute Settlement Understanding for two reasons. First, the timelines for dispute settlement in the WTO are too long to be useful in disputes about export restrictions during periods of high food prices. Second, the withdrawal of tariff concessions, or trade retaliation, that could be authorised in such cases would not be a credible response for many complainant countries.     

WTO争端解决程序中的第三方介入问题及我国的对策研究

第三方介入制度是WTO争端解决程序中的一项具有特色且非常重要的制度。本文介绍了第三方介入制度的形成与发展，并在分析第三方在争端解决中的权限以及第三方介入制度运行的基础上，提出我国作为第三方介入WTO争端解决的对策。     

How May Consumer Policy Empower Consumers for Sustainable Lifestyles?

AbstractConsumer policy can empower consumers for changing lifestyles by reducing personal constraints and limitations, but it should also attempt to loosen some of the external constraints that make changes towards a more sustainable lifestyle difficult. In terms of reducing consumers’ subjectively felt restrictions on their ability to change lifestyle, the two approaches are equivalent. Policies that increase a feeling of empowerment may also have a positive effect on consumers’ motivation to make an effort, thus amplifying its effects. In this paper both types of constraints on lifestyle changes in a sustainable direction are discussed as well as policies for reducing constraints. Possible motivational effects of the proposed policies are also outlined.     

Are trade restrictions to protect the Balance of payments becoming obsolete?

With the removal of exchange controls and other restrictions to capital mobility, the need for, and the use of, import restrictions for balance-of-payment reasons, as provided for under GATT Articles XII and XVIII:B, has diminished. Since a recent WTO ruling also seems to have put a stop to developing countries' using the ambiguity of treaty language to justify measures designed to protect their domestic industries, there is reason to expect that trade restrictions justified with a foreign exchange crisis will finally fall into disuse. The views reflected here are solely those of the author and should not be attributed to the WTO.     

我国反收购之立法政策:股东会中心主义的制度基础与保障

随着我国股权分置改革的推进,我国证券市场将面对全流通的全新环境。在上市公司壳资源仍很稀缺的背景下,加之《上市公司收购管理办法》还确立了部分要约收购制度,且部分要约收购可兼采现金、证券方式,敌意收购发生的可能性将大大增加。而为应对敌意收购,不少上市公司已通过修订公司章程采取了反收购措施。在敌意收购发生时,势必还会引入各种形式的反收购措施。因此,法律应如何规制,就面临一个立法政策选择的问题。通过西方国家收购制度的考察,可以发现,各国均不同程度地确立了反收购制度,但存在限制的程度与股东会中心主义与董事会中心主义的区别。中国也应确立设置有严格限制的反收购制度,将反收购决定权赋予股东会,且须基于对少数股东的保护,对股东会反收购决议作出特别限制。     

Advertising and the Professions

Regulatory restrictions on advertising by professional groups have changed dramatically in recent years. Despite the waning of restrictions, tradition has prevented practitioners from embracing the use of advertising. This article reports results of a survey of 200 medical professionals' attitudes towards advertising. After discussing the implications of the findings, the authors suggest some future research directions.     

How passive ownership restrictions affect the rate of franchisee failure

What variables influence the adoption of passive ownership restrictions in franchise systems and what are the effects of these restrictions on the rate of franchisee failure of such systems? This article shows how standard performance models that do not account for self-selection of these contractual decisions can improperly suggest a negative relationship between the adoption of passive ownership restrictions and a performance outcome of franchise systems – the rate of franchisee failure. However, models that do account for self-selection of these restrictions indicate that these contractual decisions per se do not affect such a performance outcome. The findings also show that franchise systems with misaligned passive ownership restrictions show a higher rate of franchisee failure than their better-aligned counterparts.     

Macroeconomic effect of capital controls as a safeguard against the capital inflow problem

Concerns that a rapid surge in capital inflow leads to loss of autonomy in macroeconomic policy, and that its reversal has significant negative effects on an economy, have motivated capital controls during the 1990s. Under a fixed exchange rate system without capital-account restrictions, a decrease in world nominal interest rates causes in a small open economy a deterioration in the current account, real exchange rate appreciation, and inflationary pressure, as pointed out by Calvo et al. (, ). This paper examines macroeconomic effects of capital-account restrictions as a policy response to the capital inflow problem under fixed exchange rates. Theoretical analysis shows that capital-account restrictions not only stem the capital inflow but also reverse the associated macroeconomic effects. The model implies that capital-account restrictions are effective measures against the capital inflow problem of emerging markets in the 1990s.     

Online shopping continuance after COVID-19: A comparison of Canada,Germany and the United States

The COVID-19 pandemic brought about an increase in online shopping because of government-imposed restrictions and consumer anxiety over the potential health risk associated with in-store shopping. By end of 2021, many health concerns had been alleviated through efforts such as vaccinations and reductions in hospitalizations in certain countries. Some governments started to relax their restrictions and consumers started to return to in-store shopping, creating the possibility that the volume of online shopping would decrease once stores reopened. However, consumers may continue to shop online more than they did prior to the pandemic because of their experience during the lockdown. This study seeks to understand the factors that explain the potential of online shopping continuance. A novel model is constructed by extending ES-QUAL, and adding hedonic motivation, social shopping and health susceptibility as mediators. Empirical data is collected from Canada, Germany and the US. We find that convenience and efficiency, as well as security for some females, are important factors contributing to online shopping's perceived usefulness and, ultimately, intentions to continue shopping online. In addition, creating an enjoyable online shopping experience adds to these continuance intentions.     

中美纺织品与服装贸易:从MFA到ATC——基于总量、价格和质量的分析

本文力图通过描述性统计和构建评价指数的方法,分别从贸易总量、进口价格和贸易品质量的角度,考察《纺织品与服装协议》在过渡期内对中美纺织品与服装贸易的影响。结论认为,2002年协议第三阶段的实施是两国纺织与服装产品贸易发展的分水岭;全面取消配额导致了进口价格和贸易品质量不同程度的下降。对此,文章有针对性地提出了今后合理应对中美纺织品贸易争端的若干政策建议。     

世贸组织框架中的创新非关税措施及其影响

由于新贸易保护主义势力的抬头、竞争的压力、世贸组织规则实施以及科学技术的发展、消费者环保意识的强化等原因,使得世贸组织成员都采用某些措施对本国市场及产业进行保护。这些措施就是具有名义上的合理性、形式上的合法性、保护内容的广泛性、保护方式的巧妙性和隐蔽性以及保护技术上的歧视性等特点的非关税措施。然而这些保护措施的滥用,影响了世贸组织框架中的贸易保护机制的正常运行,而且导致相当一部分成员尤其是发展中成员的贸易条件趋于恶化。