The asymmetric effects of exchange rate volatility on US–Pakistan trade flows: new evidence from nonlinear ARDL approach

Economic Change and Restructuring - Earlier studies that examined the response of trade flows to exchange rate volatility relied on the assumption that increased volatility and decreased volatility...     

Exchange rate volatility and regional trade agreements in Southern Africa

Economic Change and Restructuring - Exchange rate volatility is often perceived to cause a reduction in the overall level of trade. In view of the proliferation of rapid regional trade agreements...     

WTO解决贸易与环境争端的实践取向与我国的法律对策

WTO在解决贸易与环境争端的实践中,对环保规则做出了富有发展性的新的解释,表现出比在GATT时代更加重视环保的取向。面对这种形势,我国作为一个深受环境壁垒之害的贸易大国,应做出全面的法律对策。     

On the asymmetric effects of exchange rate changes on domestic production in Turkey

A few studies in the literature have used linear models to assess the impact of changes in the value of lira on Turkish domestic production. They have found no significant long-run effects. In this paper we separate lira appreciations from depreciations and engage in asymmetry analysis. Since the procedure requires using nonlinear models, we rely upon Shin et al.’s (Festschrift in honor of Peter Schmidt: econometric methods and applications. Springer, New York, pp 281–314, 2014) nonlinear ARDL approach and discover that indeed, the effects of changes in the real effective value of lira have asymmetric effects, both in the short run as well as in the long run. Indeed, in the long run we find that both lira depreciation and lira appreciation to have expansionary effects on domestic production in Turkey.     

Parallel trade and free trade agreements

Legal context. Free trade agreements seek to remove unjustifiedbarriers to trade. Normally barriers to trade are imposed bystates, such as quotas, tariffs, subsidies and regulatory restrictions.However, sometimes barriers will be imposed by private partiesseeking to prevent parallel trade (arbitrage) of their own products.The aim of this article is to examine the way in which freetrade agreements deal with private barriers to parallel tradeand thus to consider to what extent parallel trade is possiblewithin free trade areas. Key points. The article considers first the situation withinthe European Community, which has long supported parallel tradethrough its provisions on the free movement of goods and competitionlaw, before turning to the approach taken in the Community'sfree trade agreements with third countries. It carries out thesame exercise in relation to the United States and then considershow parallel trade is dealt with by the World Trade Organisation.Finally, as free trade agreements only seek to remove unjustifiedbarriers, it considers possible justifications for the differentapproaches before drawing some tentative conclusions. Practical significance. This article considers the impact whichthe overlap between intellectual property, competition law andtrade law has in relation to parallel trade. As well as reviewingthe current position, which will be of use to businesses andlegal practitioners on both sides of parallel trade, it assessesthe underlying justifications which are relevant to policy makingin this field.     

商标权与商号权的权利冲突及解决途径

作为商业识别标记，商标与商号不仅用以区别商事主体和商品来源，而且还承载商事主体享有的商业信誉、商品的质量承诺。商标与商号本身具有的宣传和促销功能在激烈的市场竞争中所发挥的效用更是不可低估。随着市场经济发展和竞争加剧，企业为了争夺市场、扩大影响导致了商标权与商号权的权利冲突不断发生且有加剧之势。因此，如何完善商标、商号立法及相互间的协调，寻求商标权与商号权权利冲突……     

Out of the woods: the illegal trade in tropical timber and a European trade hub

This article responds to the call for more empirical knowledge about transnational environmental crime by analysing the illegal trade in tropical timber. It aims to provide insights into the social organisation of the illegal transports of tropical timber within the local research setting of the port of Antwerp (Belgium) but meanwhile pays attention to elements throughout the flows from locations of origin over transit to destination. It is often difficult to determine which legal and illegal actors are involved in transnational environmental crime. This research sheds light on the legal–illegal interfaces in tropical timber flows connected to this European setting. The results show that the social organisation of transnational environmental crime is shaped by the global context of the places of origin, transit and destination, where it is continuously on a thin line between legal and illegal.     

Russia and the illicit arms trade

Since the disintegration of the Soviet militaryindustrial complex, the prospect of conventional armsand nuclear, chemical and biological weapons of massdestruction and their ingredients finding their wayfrom Russia into other hands has become a matter ofconcern for both the Russian Federation and theinternational community. This article explores thescale, forms and consequences of illicit transfers ofconventional arms and weapons of mass destruction andtheir ingredients from the Russian Federation into theinternational community. Russian military and securityforces seem to have been the main sources of a widerange of illicit conventional arms, whether as aconsequence of the participation of Russian armedforces in regional conflicts or as a consequence ofthe sale of equipment by corrupt officers, the covertcommercial export by Russian arms manufacturers beinglargely confined to small arms and light weapons. Theillegal diversion of nuclear, chemical and biologicalmaterials from the Russian Federation seems to havebeen less than was at one time feared but Westernco-operation with the Russian Federation to reinforceexisting nonproliferation regimes remains a highpriority.     

Autonomy and audit--striking the balance

The Data Protection Act 1998 purports to implement European legislation which aims to protect the privacy of individuals. There were such concerns about the implications of the Act for certain research and audit that it became necessary to enact further legislation to enable such essential activities to continue. Although this empowers the Secretary of State for Health to approve proposals for these purposes, there should still be a requirement that the use of identifiable personal information without consent must be justified on compelling public interest grounds. It is this that can confound those seeking to rely on such justification. There can either be too cavalier an approach to the issue, and/or there is little sense of what considerations should come into play. This paper attempts to highlight some of the difficulties that are theoretically raised by some audit activities and set out the legal framework within which they must operate. However, the key focus is on how ethical considerations might inform the public interest argument.     

GATS与中国服务贸易立法

中国一旦加入WTO,GATS的各项规定即对我国产生约束力,并且一些重要条款和原则将直接影响着我国服务业的开放、保护与发展。因此,必须加快中国服务贸易立法。     

论商业秘密的价值性

在当代,商业秘密的法律保护问题日益重要。进入二十一世纪后,世界上各主要国家的立法及一些国际性的公约都对商业秘密的定义做出了规定。本文试图在考察其他国家立法及Trips协议的基础上,对商业秘密的价值性进行探讨,进而探讨商业秘密价值性的确定问题,主张取消我国法律中的实用性的规定,以期完善我国商业秘密保护立法。     

Contracting foreign exchange rate risks: a behavioral law and economics perspective on KIKO forward contracts

Between 2006 and 2007, hundreds of export-oriented South Korean companies entered into what are called KIKO (knock-in, knock-out) target forward contracts to hedge against the threat of an appreciating Korean currency, the Won. Buyers of these contracts were assured a pre-determined foreign exchange rate as long as the range of exchange rate fluctuation stayed within a narrow band. In 2008, however, the Korean currency depreciated considerably following the global financial crisis, forcing buyers of the KIKO contracts to incur enormous losses. Why were there both supply and demand for these contracts, and why did they become suddenly popular? This article employs a behavioral law and economics perspective to explain what transpired in the minds of the parties to the contracts. Psychological biases and cognitive limitations were perhaps at play, including herd behavior, investor myopia, information cascades, and optimism bias. Recognizing that these psychological factors could induce sub-optimal decisions of the contracting parties, we argue that de-biasing should be considered an important policy goal in financial contracting. While the scope of this paper is limited to the KIKO contracts, the principles used to examine this case can be broadly applied.     

Size and scope of the tobacco trade on the darkweb

Globally, tobacco is responsible for the death of approximately 6 million individuals per year. In reaction, governments have enacted tobacco control policies that cope with the harmful effects of the drug. However, these policies have also created geographic price disparities and increased the effort needed to purchase legal tobacco products. The result was the creation of a new illicit tobacco market. While tobacco smuggling continues through conventional avenues, a new generation of traffickers have turned to a different source for the illicit distribution of tobacco – the internet, specifically the darkweb. The purpose of this paper is to describe the size and scope of illicit trafficking of tobacco on cryptomarkets, and the diverse types of tobacco-related products available on the cryptomarkets. Our analysis will provide guidance for policymakers, researchers, and all interested in the illicit trade of tobacco.     

绿色贸易壁垒与清洁生产立法

绿色贸易壁垒是新近出现的一种贸易保护主义手法,它对包括我国在内的发展中国家的产品进入国际市场构成障碍。面对这种压力,我们应采取积极的措施应对,清洁生产不失为一种理想的选择。国家正在起草清洁生产法,清洁生产法应当考虑到绿色贸易壁垒因素,对农产品适用清洁生产法、采用自愿与强制相结合办法推行清洁生产、政府对清洁生产给予财政税收支持以及政府对清洁生产负有的责任作出规定。     

试论商业秘密权及其法律特征

我国反不正当竞争法第十条规定:“商业秘密”是指“不为公众所知悉,能为权利人带来经济利益,具有实用性并经权利人采取保密措施的技术信息和经营信息”,规定通过不正当手段获取、泄露或使用他人商业秘密属于违法行为。新刑法第二百一十九条规定,侵犯他人商业秘密给权利人造成重大损失的,构成刑事犯罪。这就从民事法律和刑事法律上确立了一项权利——商业秘密权。     

Grunwick and trade union recognition

This article considers the approach of law schools to the assessment of students' use of English. The QAA subject benchmark statement for law requires students to demonstrate the ability to use English proficiently but over recent years there has been anecdotal evidence that some students who lack this ability have obtained law degrees. To obtain further information on how law schools try to ensure compliance with the relevant benchmark, a short questionnaire was sent to a randomly selected sample of 20 English law schools. This article presents the results of that research, considers some of its possible implications and concludes that the assessment methods that many law schools are currently employing do not ensure compliance with the relevant benchmark.     

Whose trade mark rights? What the Microsoft case means for trade mark owners

Legal context. The article considers the influence of the commissionruling in the Microsoft case, forcing Microsoft to use its WINDOWS-trademark for an ‘unbundled’ version of the program inthe light of the trade mark owner's properties rights. The scopeof these rights is determined by the function of the trade markand the rights that the trade mark laws confer to the ownerin case of infringement. Key points. Trade marks are protected as property rights undercommunity law. They are the embodiment of past investments andtransform the reputation of the owner into a bankable asset.Consumers rely on trade mark owners' control over quality. Thisis mirrored by the rights of the trade mark owner to stop interferencewith quality and image, in particular in the context of resaleof altered products. Any interference that would be considereda trade mark infringement if committed by a private party shouldbe considered an interference with the protected property rightif caused by a government agency. This interference is not justifiedby the public interest because trade mark rights also embodyimportant public interests. Practical significance. If the analysis proposed in the articleis followed, intellectual property rights have to be given greaterweight in shaping antitrust remedies.