{"title":"Domestic Investment Laws and International Economic Law in the Liberal International Order","authors":"J. Chaisse, G. Dimitropoulos","doi":"10.1017/S1474745622000404","DOIUrl":"https://doi.org/10.1017/S1474745622000404","url":null,"abstract":"Abstract International Economic Law (IEL) has largely regulated cross-border trade and investment in the post-WWII world. IEL has become an important part of the Liberal International Order that prescribes a set of rule-based relationships for international cooperation based on political liberalism, economic liberalism, and liberal internationalism. However, economic globalization has witnessed a relative decline, especially after the 2008 global financial crisis and the COVID-19 pandemic. This form of ‘de-globalization’ challenges the assumptions upon which modern IEL is premised. This introductory article to the special issue on ‘Domestic Investment Laws and International Economic Law in the Liberal International Order’ explains how domestic law has started playing an increasingly important role in regulating foreign investment. Often overlooked instruments such as Domestic Investment Laws, Investment Screening Mechanisms, and Investment Promotion Agencies are now important tools in promoting or restricting foreign investment flows. Expanding on this premise, the article examines the transition from international to domestic in the Liberal International Order with a focus on Domestic Investment Laws. The move to domestic law does not signal a new era of economic isolation for States. Instead, it presents an effort to achieve similar ends of attracting foreign investors using different means while exercising more control over foreign investment.","PeriodicalId":46109,"journal":{"name":"World Trade Review","volume":"22 1","pages":"1 - 17"},"PeriodicalIF":1.3,"publicationDate":"2023-01-13","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"47014318","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"社会学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Regulatory Chill and Domestic Law: Mining in the Santurbán Páramo","authors":"Anna Sands","doi":"10.1017/S1474745622000386","DOIUrl":"https://doi.org/10.1017/S1474745622000386","url":null,"abstract":"Abstract A persisting question about investment treaties is whether they lead to regulatory chill – the reluctance to regulate on environmental and social issues due to fear of investment claims. The literature on this topic has been predominantly focussed on how the state responds to international pressures, and little has been written about what happens within the state itself. This article aims to fill that gap by analysing the interplay of domestic laws and institutions in the context of potential investment claims, based on the case study of mining in the Santurbán páramo region in Colombia. The article shows that even though Colombia had created laws and institutions that internalized international investment law, it did not bring about regulatory chill in the case of Santurbán; this is due to the role of domestic constitutional law and the Constitutional Court. This case study also adds to the understanding of how the Liberal International Order is shifting from international to domestic governance, by showing how domestic laws and institutions can have diverging priorities when determining how the risk of investment claims is dealt with.","PeriodicalId":46109,"journal":{"name":"World Trade Review","volume":"22 1","pages":"55 - 72"},"PeriodicalIF":1.3,"publicationDate":"2023-01-13","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"48993917","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"社会学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"The Past, Present, and Future of Domestic Investment Laws and International Economic Law","authors":"J. Hepburn","doi":"10.1017/S1474745622000441","DOIUrl":"https://doi.org/10.1017/S1474745622000441","url":null,"abstract":"Abstract This article considers the past, present, and future of domestic investment laws. Its focus is on the ‘facilitative’ investment law, which aims to encourage foreign investment by granting substantive protections to foreign investors and consent to international arbitration over disputes with foreign investors. The article first contends that states had independent reasons to enact such facilitative investment laws alongside investment treaties, even though investment treaties perform very similar functions. Secondly, the article argues that investment laws can be characterized either as unilaterally assumed international obligations of states or simply as domestic laws of states, with differing consequences under each characterization. Thirdly, the article proposes four possible futures for facilitative investment laws: contamination, continuation, compromise, and contestation.","PeriodicalId":46109,"journal":{"name":"World Trade Review","volume":"22 1","pages":"18 - 34"},"PeriodicalIF":1.3,"publicationDate":"2023-01-13","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"45804888","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"社会学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Trade Links: New Rules for a New World by James Bacchus Cambridge University Press, 2022","authors":"Alan Wm. Wolff","doi":"10.1017/s1474745622000520","DOIUrl":"https://doi.org/10.1017/s1474745622000520","url":null,"abstract":"","PeriodicalId":46109,"journal":{"name":"World Trade Review","volume":"1 1","pages":""},"PeriodicalIF":1.3,"publicationDate":"2022-12-29","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"42194539","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"社会学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Supplying Compliance with Trade Rules: Explaining the EU's Responses to Adverse WTO Rulings Alasdair Young Oxford University Press, 2021","authors":"Floor Doppen, Scott R. Hamilton","doi":"10.1017/s1474745622000490","DOIUrl":"https://doi.org/10.1017/s1474745622000490","url":null,"abstract":"","PeriodicalId":46109,"journal":{"name":"World Trade Review","volume":" ","pages":""},"PeriodicalIF":1.3,"publicationDate":"2022-11-24","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"47448050","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"社会学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Export Fraud in India","authors":"A. Bussy, Mehtab Ahmed Jagil","doi":"10.1017/S1474745622000477","DOIUrl":"https://doi.org/10.1017/S1474745622000477","url":null,"abstract":"Abstract We investigate tax fraud in a major export-promotion program in India – the Duty Drawback scheme – which enables exporting firms to claim a cash rebate proportional to the value of their exports, at a product-specific drawback rate. We detect fraud based on two approaches. First, we show that bilateral trade asymmetries between reported exports by India and reported imports by trading partners of the same trade flows are systematically correlated with the rate of drawback, suggesting that exporting firms over-report exports to unduly gain duty drawback. Second, we find evidence of excess bunching in the distribution of unit values reported by India at kinks in the per-unit drawback schedule, relative to the distribution of unit values reported by importing countries. Our results suggest that fraud currently detected by customs represents only 3.8%–6% of actual fraud.","PeriodicalId":46109,"journal":{"name":"World Trade Review","volume":"22 1","pages":"255 - 277"},"PeriodicalIF":1.3,"publicationDate":"2022-11-22","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"46066613","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"社会学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Nicholas Mulder, The Economic Weapon: The Rise of Sanctions as a Tool of Modern War New Haven: Yale University Press, 2022.","authors":"D. Irwin","doi":"10.1017/S1474745622000489","DOIUrl":"https://doi.org/10.1017/S1474745622000489","url":null,"abstract":"The United States and European Union imposed punishing economic and financial sanctions against Russia after it invaded Ukraine in February 2022. The economic costs and consequences of these sanctions have reverberated around the world. This makes Nicholas Mulder","PeriodicalId":46109,"journal":{"name":"World Trade Review","volume":"22 1","pages":"295 - 296"},"PeriodicalIF":1.3,"publicationDate":"2022-11-21","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"42248611","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"社会学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Industry Size and Trade Protection in the Presence of Environmental Regulations: An Empirical Investigation of the Indian Manufacturing Sector","authors":"G. Bhattacharya","doi":"10.1017/s1474745622000465","DOIUrl":"https://doi.org/10.1017/s1474745622000465","url":null,"abstract":"\u0000 This paper tests the hypothesis pertaining to the interdependencies between trade and environmental policies in the presence of industry/firm lobbies, which is captured through industry/firm size. For an unbalanced panel of manufacturing firms in India at the five-digit National Industrial Classification (NIC), 2008 for the period 2008–2019, I find that firm size has a positive and significant impact on trade policy. The same holds true for a subset of firms that are polluting in nature (based on the Central Pollution Control Board classification). It is found that larger firms have a greater influence on those trade policies that are set unilaterally by the government. Also, there is no empirical support in favour of trade and environment linkages in the Indian context. This could be due to the fact that these two policies come under the domain of independent ministries of the government. Moreover, environmental safety assumes less significance and tends to adversely affect the competitiveness of the manufacturing sector. Notwithstanding the fact that environmental regulations are in place, the enforcement and monitoring mechanisms are remarkably weak on account of weak environmental institutions.","PeriodicalId":46109,"journal":{"name":"World Trade Review","volume":" ","pages":""},"PeriodicalIF":1.3,"publicationDate":"2022-11-17","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"44548818","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"社会学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}