In trade agreements, governments can design remedies to ensure compliance (property rule) or to compensate victims (liability rule). This paper describes an economic framework to explain the pattern of remedies over non-tariff restrictions — particularly domestic subsidies and nonviolation...

The principle of reciprocity is central to trade cooperation. Economic theory characterizes reciprocal policy changes that guide nations from noncooperative policies to the Pareto efficiency frontier. This paper extends the theory of reciprocity to a wide range of settings relevant for 21st...

The aim of this paper is to explore the interactions between international economic law and civil society. The starting point is to analyse the role of international economic law in facilitating the “competition of systems” (principally by reducing barriers to international trade and...

The services sector accounts today for two thirds of global output (65% of GDP in 2004; 45% of GDP in 1960) and represents the fastest growing sector of the global economy. In a world where competitiveness is key to economic development, services play a vital role in ensuring a competitive economy....