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This paper constitutes an attempt to reframe and eventually deflate the ongoing “compliance-vs.-rebalancing” debate which has permeated WTO scholarship for the last 10 years. Our main criticism concerns the substance of the entire debate. We find that scholars on both sides of the...
Persistent link: https://www.econbiz.de/10003874814
Economic theory has made considerable progress in explaining why sovereign countries cooperate in trade. Central to most theories of trade cooperation are issues of self-enforcement: The threat of reprisal by an aggrieved party maintains the initial balance of concessions and prevents...
Persistent link: https://www.econbiz.de/10003544790
Claims by company shareholders seeking damages from governments for so-called "reflective loss" now make up a substantial part of the investor-state dispute settlement (ISDS) caseload. (Shareholders' reflective loss is incurred as a result of injury to "their" company, typically a loss in value...
Persistent link: https://www.econbiz.de/10013072987
Binding dispute settlement, meaning the ability to obtain a final judgment of whether a Member of the World Trade …
Persistent link: https://www.econbiz.de/10013293335
trade agreements (PTAs) are driving this trend in Asia and the Pacific as well as in Central and South America, and the … under negotiation or in force. In this regard, Asia and the Pacific has developed a rapidly evolving regional economic … Economic Partnership (or ASEAN+6 RCEP), as well as the putative Free Trade Agreement of the Asia-Pacific (FTAAP), which …
Persistent link: https://www.econbiz.de/10010506399
Investor-state dispute settlements (ISDS) were supposed to become an integral part of multilateral trade and investment agreements although the partner countries of these deals do not suffer from substantial institutional weakness. This paper shows why multinational firms lobby for ISDS also in...
Persistent link: https://www.econbiz.de/10012959153
Divestment by multinational enterprises is an important yet understudied phenomenon. The few available estimates indicate that about a fifth of all foreign affiliates are divested every five years. This paper presents the findings from a novel cross-country firm-level dataset with financial and...
Persistent link: https://www.econbiz.de/10012147280
Investment tribunals often profess fidelity to the rules on treaty interpretation contained in the Vienna Convention on the Law of Treaties (VCLT). At first sight, they mention Article 31 and 32 VCLT with reassuring regularity. But first impressions may lead astray. My hypothesis is that many...
Persistent link: https://www.econbiz.de/10013120359
freefall at the world level, there emerged a second order response at the level of regional institutional building …
Persistent link: https://www.econbiz.de/10013111376
Foreign investors' fear of expropriation led to the emergence of the idea of new ways of protection and adequate treatment of foreign investments on the international level. Primarily, the home countries wanted to protect their interests and became the main proponents of the creation of...
Persistent link: https://www.econbiz.de/10014372761