Freedom Of Trade Research Articles

The Role of the “Bukhara Question” in the Conclusion of the Soviet-Afghan “Treaty of Friendship” of 1921

During the negotiation of the first Soviet-Afghan “Treaty of Friendship”, a fierce rivalry arose between the parties over control of the Emirate of Bukhara. The former protectorate of the Russian Empire played an important role in the Bolsheviks' plans to export revolution to Central and South Asia, making it impossible for them to allow Afghan control of Bukhara. In turn, the Afghan government attempted to use diplomatic negotiations with Moscow to preserve the independence of Khiva and Bukhara. The “Bukhara Question” was of particular importance to the Afghan Emir, Amanullah Khan, who sought to transform the country into a “regional power” at the helm of a confederation of Central Asian states. Declassified records kept in Russian archives reveal that Amanullah Khan was seeking major concessions from Soviet diplomats on all issues relating to Bukhara to create “Greater Afghanistan”. At first, the Afghan Emir sought Soviet Russia's consent to divide the Emirate of Bukhara into spheres of influence, the transfer of the Russian fortresses of Termez and Kerki to Afghanistan, special rights over the Bukhara section of the Central Asian railway, and freedom of trade. When the Afghans became convinced of the weakness of Soviet power in Central Asia, they set out to establish an Afghan protectorate over Bukhara. At the same time, the Afghan diplomats were sober about the international situation and recognised that their claims had limits and should not derail the conclusion of a favourable treaty with the RSFSR. For this reason, Amanullah Khan accepted, with some difficulty, the “Bukhara Revolution” of 1920, orchestrated by the Bolsheviks, and then agreed to ratify the Soviet-Afghan “Treaty of Friendship”, signed in Moscow on 28 February 1921.

Foreign Direct Investment and Economic Environment—Based on the Evidence of ASEAN Countries

Using the data onto foreign direct investment and the index of economic freedom, investment freedom, freedom of trade, monetary freedom and commercial freedom, this paper analyses the foreign direct investment in China and the ASEAN countries and five degrees of freedom. The results show that, after eliminate heteroscedastic, commercial freedom, monetary freedom and economic freedom significantly enhance a country's foreign direct investment, freedom to trade and to invest can inhibit foreign direct investment in a country. The 2009 global financial crisis also played a significant role in the impact on economic freedom of foreign direct investment, in which business freedom had a negative effect of a harsh international environment and a difficult domestic economy, while trade freedom was here It has played a positive role in the normal trade, but also eased the domestic economic environment and promoted the inflow of foreign direct investment.On this basis, the relevant policy suggestions of foreign direct investment and economic liberalization in China and ten ASEAN countries are drawn.

Expanding Geographical Indication protection at any cost? A critique of the EU law of evocation

As the major pillar of the EU’s quality policy on agricultural products, Geographical Indications (GIs) are protected in the EU at a level significantly higher than in other jurisdictions. Through multilateral and bilateral negotiations, the EU aims to ensure a similar high protection level as is provided in other countries’ national legislations, which has already generated much debate globally. This article focuses on a recent trend in the EU for further enhancing the level of GI protection. By way of reviewing the CJEU’s application of the EU GI regulations that protect GIs against evocation, this article reveals that the scope of GI protection has been extended greatly with an increasingly broad interpretation of evocation by the CJEU. It further traces the source of the evocation provision and examines potential rationales behind GI protection against evocation. It concludes that it lacks legislative tradition and solid justifications to expand the scope of GI protection via the evocation clause. Such a high level of GI protection against evocation, mostly driven by reasons of policy, will lead to a risk of monopoly of techniques and production of certain types of products, and is enforced at the cost of the freedom of communication, trade and industry of other agricultural operators in the EU. Moreover, non-EU countries need to understand the European approach to GI protection, particularly concerning the scope of protection, before they support or adopt it.

Analyse comparative de la liberté économique dans les pays d'Amérique du Sud au cours des années 1996-2022

L'objectif de l'article est de présenter les résultats d'analyse sur la σ-convergence et la σ-divergence, ainsi qu'une analyse comparative multivariée de la liberté économique dans les 13 pays d'Amérique du Sud. Les pays concernés sont suivants : Argentine, Bolivie, Brésil, Chili, Colombie, Équateur, Guyane, Paraguay, Pérou, Suriname, Trinité-et-Tobago, Uruguay, Venezuela. Pour mener des analyses comparatives, les indices de liberté économique publiés par The Heritage Foundation à Washington et Wall Street Journal seront utilisés. Ils mesurent 12 aspects quantitatifs et qualitatifs regroupés autour des quatre piliers de la liberté économique : 1) état de droit - droits de propriété, efficacité judiciaire, intégrité gouvernementale ; 2) taille du gouvernement - dépenses publiques, fardeau fiscal, santé budgétaire ; 3) efficacité de la réglementation - liberté d'entreprise, liberté du travail, liberté monétaire ; 4) ouverture du marché - liberté commerciale, liberté d'investissement, liberté financière. Les données statistiques seront complétées par l'indice global de liberté économique pour chaque pays. Dans la recherche empirique, les mesures de σ-convergence et σ-divergence sont utilisées pour déterminer le degré d'homogénéité ou d'hétérogénéité des pays étudiés du point de vue de 12 zones et de la liberté économique moyenne à l'horizon temporal analysé. Le fait d'appliquer les méthodes sélectionnées d'analyse comparative multivariée, y compris l'analyse par grappes basée sur les méthodes hiérarchiques, représete le point culminant de la recherché empirique. L'analyse typologique est effectuée séparément pour 12 indicateurs partiels et l'indice global de liberté économique pour les 13 pays. Les matrices de similarité des pays, qui sont déterminées à cet effet, représentent les distances entre les séries temporelles des indices de liberté économique calculées sur la base de l'algorithme Dynamic Time Warping (DTW). Le programme R et les packages dtw et dtwclust sont utilisés pour l'analyse des clusters. Cet article est un complément important aux connaissances sur la création de la liberté économique dans les 13 pays Amérique du Sud dans les années 1996-2022.

The Effect of Economic Liberalization on Foreign Direct Investment

Purpose - This study analyzed the correlation between economic liberalization and foreign direct investment. The purpose of this study is to seek ways to attract foreign direct investment from developing countries. Design/methodology/approach - This study analysed with observations of 19 from 2000 to 2018 using a fixed effect model, a random effect model, and a two-way fixed effect model. Findings - First, it was found that economic liberalization had a positive effect on attracting foreign direct investment in the early stages of economic liberalization. Second, it was found that economic liberalization in the deepening stage of economic liberalization had a negative effect on attracting foreign direct investment. In general, it was found that the higher the level of economic liberalization in developing countries is not accompanied by innovative changes in the industrial structure, the higher the level of economic liberalization is likely to decrease the inducement of foreign direct investment due to negative factors such as an increase in labor costs. Overall, this study approved that Economic liberalization have a non-linear (inverted U-shape) relationship with the inflow of foreign direct investment. Research implications or Originality - First, this study attempted to expand the variables for the determinants of FDI by analyzing economic factors which is a determinent of FDI. Second, economic liberalization generally has a positive effect on foreign direct investment, but it proved that it does not have only positive effects as a factor of attracting foreign direct investment in developing countries. The advantage of low wages in ASEAN countries acts as a factor for foreign direct investment, but as the degree of economic liberalization increases, the environment such as government size, guarantee of property rights, international trade freedom, fiscal soundness, and regulations change positively. On the other hand, it can be suggested that if the industrial level is less, it may lead to a loss of comparative advantage and a decrease in investment.

Corporate Criminal Liability in India

In 21st Century, crimes committed by corporate bodies are creating more serious challenge for criminal justice system. Some vested interests which are controlling affairs of corporate bodies misuse the corporate body for commission of criminal acts to maximise profit. Corporate body is conferred with legal personality for regulation of its functions but it does not have physical body and mind of its own, thereby, problem arises for holding corporate body as criminal, and further, in imposition of criminal liability. Corporate criminal activities badly affect environment, health, safety and infra-structure development. Corporate entities are involved in corruption, forgery, money laundering, foreign exchange violations, money laundering, tax evasions, benami property transactions and other economic offences. Proper formulation of criminal justice actions and effective enforcement of corporate criminal liabilities are modern criminal justice requirements. Corporate bodies are business entities; economic wellbeing of society, prosperity of citizenry and development of nation depend on freedom of trade, amicable business environment and least regulation of corporate entities. Hereby, in determination and imposition of corporate criminal liability for betterment of society, it is necessary to make balance between to take stern actions to tackle corporate crimes and to take care to not hamper legitimate activities of corporate bodies. Law relating to corporate criminal liability in India will be analysed in this paper. Keywords: Criminal Justice System, Corporate crime, Corporate criminal liability, Natural person, Social wellbeing, Strict liability

Impact of Investment, Financial and Trade Freedom on Bank’s Risk-Taking

Abstract This study explores the impact of investment, financial, and trade freedom on banks' risk-taking and stability of US banks by employing two-step system GMM approach over the extended period from 2002 to 2018. The findings provide evidence that financial freedom decreases risk-taking, while investment and trade freedom increase US larger banks' risk-taking. The results show that investment and trade freedom is beneficial for the stability of banks in the US. The heterogeneity in results indicates that financial freedom reduces the risk-taking, whereas trade and investment freedom increase the risk-taking of well-capitalized and high liquid banks. In contrast, in the case of undercapitalized and low liquid banks, the impact of financial, trade, and investment freedom on risk-taking is insignificant. The result demonstrates that the government's intervention is decisive in developing the degree of economic freedom for the financial system's stability. The finding of the study has practical implications for banks manager, regulators, and policymakers.

ROLE OF ECONOMIC AND POLITICAL FREEDOM IN COUNTRY'S ATTRACTIVENESS OF FOREIGN DIRECT INVESTMENT (FDI): EVIDENCE FROM THE SOUTH EAST EUROPE

<jats:p>The aim of this research is to empirically explore impact of economic and political freedom as two nontraditional factors on FDI inflows in eight of South East Europe countries between 2002 and 2020. Accordingly, the study hypothesis that high level of economic and political freedom is positively associated with FDI. The study uses panel data techniques. The obtained findings of the study failed to confirm contribution of economic freedom on FDI in eight South East European countries. It can be explained that a given level of reforms conducted in the field of business freedom, trade freedom, monetary freedom, investment freedom, government size, property rights, freedom from corruption, labour freedom, financial freedom, and fiscal freedom are still lagging from developed countries. On the contrary, the findings confirmed the impact of political freedom on FDI attractiveness and that given level of political freedom contributes to growth of FDI.</jats:p>

Does regional integration matter for sustainable economic growth? Fostering the role of FDI, trade openness, IT exports, and capital formation in BRI countries

IT exports, capital formation, FDI, and trade openness are the key elements to bring sustainable economic growth to any country, since these act as a lifeline to bring sustainability to countries. This study aims to estimate the impact of IT exports, gross capital formation, FDI, and trade openness on sustainable economic growth with regional integration of BRI countries using the annual panel data from 2013 to 2018. Moderating variable is regional integration, while the trade freedom index, investment freedom index, real interest rate, and inflation are control variables. The two-step system GMM technique is applied to the sample as the number of moment conditions is greater than the number of parameters. The results suggest that FDI and gross capital formation have a substantial positive impact on economic growth, whereas IT exports and trade openness have a negative, insignificant impact. The overall results suggest that China's outward FDI has boosted the economic growth in countries while trade openness has a negligible since most developing countries need to invest in industrialization and encourage exports based growth.

How do trade liberalization and human capital affect renewable energy consumption? Evidence from the panel threshold model

Promoting the use of renewable energy was an important issue for achieving sustainable development. This article used data from 69 countries from 1990 to 2015. Considering the cross-section dependence, the second-generation unit root and cointegration tests were used. The pooled mean group (PMG) method was used to estimate long-term and short-term effects and the panel threshold model was employed to explore nonlinear effects of trade liberalization on renewable energy. Moreover, a mechanism analysis was implemented. Empirical results show: First, the PMG results revealed the long and short-term positive effects of trade liberalization on renewable energy. Second, the panel threshold model results revealed the double threshold effect of human capital in trade liberalization and renewable energy, as human capital gradually raised, the regression coefficient of trade liberalization first declines and then rises, showing a U-shaped trend. In addition, the mechanism analysis results revealed trade liberalization promoted the use of renewable energy through technological effects rather than scale and structure effects. Finally, our research results strongly support trade liberalization and human capital as potential forces to promote renewable energy consumption in the future. The policy implied the government should actively develop trade freedom and improve the level of human capital.

ECONOMIC GROWTH: HISTORICAL AND INSTITUTIONAL ASPECT

The article deals with the features of the socio-economic development of Russia, the issues of state intervention in the economy. Based on the analysis of the historical development of the post-socialist transition countries, it is shown that different countries with transit economies are characterized by special trajectories of entrepreneurship development. The importance of ethical, cultural and institutional factors in the implementation of entrepreneurship, the important role of traditions of economic behavior that explain the specifics of the longterm development trajectory of Russia is emphasized. For the countries of the post-socialist transition, the possibility of ensuring sustainable economic growth is determined by the different civilizational history at the previous stages of development and the need to form a modern institutional environment that promotes socioeconomic changes. In many ways, the factors influencing economic growth are the low level of innovation activity and competitiveness, as well as the growing influence of the state on the economy, the increase in its share due to the growth in the number and scale of state-owned companies, which limits the potential of Russian entrepreneurs within the framework of the domestic market. The main challenge to overcome dependence on previous development trajectories and prospects for long-term economic growth will be the formation of entrenched political institutions of civil society, guarantees of property rights, the rule of law, the independence of the judiciary, freedom of trade and the absence of strict state regulations.

The Impact of Institutional Environment on Risk Assessment

The purpose of this research is to investigate the relationship between the institutional environment of the studied countries and the Coface Country Risk Assessment. To meet this object, we used quantitative methods in the form of descriptive and regression analysis. The result was an evaluation of the actual Coface Country Risk Assessment and its value prediction for chosen countries. The authors quantified the impact of the institutional environment using The Heritage Index of Economic Freedom subindexes on the risk assessment indicator of the major private insurance company Coface, which is not so often used in the scientific sphere and is regularly updated. The results suggest a positive correlation between the Coface Country Risk Assessment and Government Integrity, Fiscal Health, Financial Freedom and Property Rights. Although Tax Burden is a statistically significant factor, its parameter was detected with an unexpected sign. For this reason, authors abstracted from it. Subindexes Government Spending, Business Freedom, Monetary Freedom, Trade Freedom, and Investment Freedom were statistically insignificant. Control variable Public Debt as a share of gross domestic product was insignificant as well. Implications for Central European audience: The article applies the Coface Country Risk Assessment, which has so far been rarely used in the scientific literature. We present the current and predicted values of the Central European Countries, but also the countries interesting from their point of view due to trade and investment opportunities. Many countries, including those in Central Europe, show differences between actual and predicted values.

“Privilege” Factor in Economic Policy of Bolsheviks and Kronstadt Rebellion

The influence of the Kronstadt mutiny (March 1921) on the change in the economic course of the Bolsheviks is analyzed. The results of a comparative analysis of different conceptual approaches to its interpretation as a factor of influence are presented. The authors consider the food dictatorship to be the fundamental principle of war communism, periodically softened by campaigns to endow workers with “privileges” in the form of the right to transport food; contemporaries talked about “benefits”. An overview of events, which allows us to consider “privileges” as the main factor in the activation of illegal market relations in 1918—1921is provided in the article. Its novelty lies in the attribution of the Kronstadt mutiny as an essential reason for the transition of the Leninist leadership not to the NEP, but to the next “privileged” operation. At the same time, the authors of the article argue that the accumulation of concessions (“privileges”), accelerated by the rebellion, led in August 1921 to the legalization of freedom of trade and to the NEP. Great attention is paid to the issue of the social basis of the mutiny, since, among other things, the authors see the sources of fearlessness and despair of the insurgents in this circumstance. A. Davydov and V. Khutsieva prove that the rebels primarily acted on behalf of that part of the peasantry that managed to save their bread from the Bolshevik requisitions.

COVENANTS IN RESTRAINT OF TRADE: A SYNTHESIS OF TRADITIONAL, COMMON LAW AND CONSTITUTIONAL APPROACHES

It seems as if cases dealing with covenants in restraint of trade will forever proliferate in the law reports. The reason for this phenomenon is simply that restraint clauses are by their very nature rather onerous contractual provisions in that they entail the curtailment of commercial activity and thus potentially hold grave consequences for the covenanter. Often the enforcement by the covenantee of such a contract is contested by the covenanter. When the enforcement of a restraint is sought two contractual values come into play: the principle of sanctity of contract (pacta sunt servanda) which holds the maintenance of agreements freely entered into, including limitations of future economic activity, as paramount, and the principle of freedom of trade which stresses the right of an individual to engage without restriction in economic activity. Although inter-related, there is an uneasy tension between these principles linked to the question of which of the two should be afforded preference in the circumstances. Other factors have further caused the South African law on restraint to be somewhat tumultuous, having been applied in terms of English and later Roman-Dutch law, and potentially influenced by the interim and final constitutions. Some recent provincial case law stresses the constitutional aspect of restraints while other decisions display a preference for the common law approach. The crisp question which this note seeks to address in light of the various forces which have been brought to bear on this area of the law of contract is whether at this stage a uniform resolution to the issue is apparent.

PEACE OF WESTPHALIA AND THE FORMATION OF INTERNATIONAL ECO- NOMIC LAW

The article examines the influence of the Peace of Westphalia on the formation of international economic law. The author examines the economic situation in which the Holy Roman Empire found itself as a result of the Thirty Years' War. New customs and road taxes were introduced and old customs tariffs were raised. All continental trade was paralyzed. The decisions of the Westphalian Congress were based on the concept of freedom of trade. All customs duties, taxes and other restrictions that were arbitrarily introduced without the consent of the emperor and the electors were abolished. Even before the outbreak of the war, debt obligations had reached significant proportions. For the period of the signing of the Peace of Westphalia, moratoriums were introduced for 5 years on the payment of interest and repayment of debts. At the Regensburg Reichstag in 1654, proposals for compensation at the regional level, on the settlement of loan agreements and payment of interest on contributions, on a decrease in interest on current contributions were developed.

Human and Civil Rights and Freedoms in a State of Natural Disaster and Epidemic Emergency

On 11th March 2020, the World Health Organisation (WHO) declared a state of pandemic. In turn, on 21 March 2020, the Minister of Health, by way of a regulation, declared a state of epidemic in the territory of the Republic of Poland. At the same time, the decision resulted in the introduction of many restrictions concerning, inter alia, freedom of movement, assembly and trade. At the same time, discussions started on the constitutionality of the introduced restrictions on civil liberties. Having the above in mind, the aim of this article is to present the correlation in the sphere of limiting or suspending civil liberties in a state of emergency, such as a state of natural disaster, and in “non-emergency” states, such as a state of epidemic threat and a state of pandemic. Although the word “state” appears in the three mentioned legal situations, the state of natural disaster, as one of the three constitutional states of emergency, creates a different legal and socio-political situation than the state of epidemic threat or the state of pandemic. A common feature of the above-mentioned events, however, is that they became a fundamental disruption of the social context of individual and group functioning in connection with the occurrence of a human infectious disease.

Brief Synopses of New Arabic-Language Publications

Brief Synopses of New Arabic-Language Publications

Exploring the influence of economic freedom index on fishing grounds footprint in environmental Kuznets curve framework through spatial econometrics technique: evidence from Asia-Pacific countries.

Environmental challenges are as vast as the universe, allowing for numerous studies on their various dimensions. Using 17 data sets from Asia-Pacific countries between 2000 and 2017, this study attempted to investigate the economic factors influencing the ecological footprint of the fishing sector. The primary contribution of this study is to examine the effects of nine economic freedom indicators, as well as other control variables, on the status of fishery resources due to environmental pressure. The findings confirm the environmental Kuznets curve (EKC) hypothesis in the fishing grounds footprint, indicating that GDP per capita growth has a positive and significant effect, even though its squared form coefficient is negative. Other control variables, including natural resource rents, urbanization, and energy intensity, do not significantly affect the fishing footprint. The different components of economic freedom show different effects, while their cumulative effects in the form of the total economic freedom index positively affect the footprint of fishing and lead to increased extraction from fishing resources. The results show that the government integrity, tax burden, business freedom, and monetary freedom indices increase the fishing footprint. In contrast, indices of trade freedom and investment freedom, by highlighting the adverse effects of fishing on the environment, help countries reduce pressure on their aquatic resources. The findings of this study highlight the importance of examining how various dimensions of economic freedom affect the ability to manage fishery resources effectively.

An Analysis of the Effects of Formal Institutions on High-Quality Entrepreneurship Across Nations

Entrepreneurs differ in the degree and type of novelty and economic contribution they introduce to a nation's economy. This paper defines the quality of early-stage entrepreneurial efforts based on motivation (opportunity-driven), customer demand (innovativeness), and supply-side technology and processes (newness of used technology). How early-stage high-quality entrepreneurial efforts are formed and exploited depends upon the institutional environment. We contribute to academia on the contextual determinants of entrepreneurship by examining Global Entrepreneurship Monitor (GEM) multi-level data on 2,115,018 individuals from 101 countries for 2003-2016. We show that formal institutions differently affect early-stage high-quality entrepreneurship activities across countries. Regulatory efficiency and trade freedom have an expected positive and statistically significant effect on early-stage high-quality entrepreneurship. On the other hand, government integrity (i.e., corruption) has an unexpected negative, and statistically significant relationship. We find that the level of economic development in a country positively moderates the relationship between government integrity and early-stage high-quality entrepreneurship. We discuss the practical implications for business leaders and policy-makers and avenues for future research in academia.

Kebebasan Berdagang Di Tengah PPKM Darurat Ditinjau Dari Sudut Pandang Sosiological Jurisprudence Dan Konsep Keadilan

The government has implemented a Policy for the Imposition of Restrictions on Emergency Community Activities that have an impact on the trade sector, one of which is micro, small and medium enterprises. These business actors, in addition to experiencing a decrease in turnover, also received criminal sanctions in the midst of the imposition of this emergency Community Activity Restriction by the local government. The formulation of the problem in this study is how freedom of trade in the midst of the Imposition of Restrictions on Emergency Community Activities is viewed from the point of view of sociological jurisprudence and justice. The approach method used in this study is a normative juridical approach, with secondary data collection. Data collection in this research is by literature study. The results obtained were analyzed qualitatively. From the results of the study, it shows that in sociological jurisprudence, trading in the midst of the Imposition of Restrictions on Emergency Community Activities is a community right that becomes a public reality that should still be monitored and controlled without imposing fines even though the Salus Populi Suprema Lex Esto principle is the basis for implementing these sanctions. However, at least the legal ideals must still be considered in order to change social values in the community. In the concept of justice, trading in the midst of the Imposition of Restrictions on Emergency Community Activities is the right of everyone to defend their life and life which has been formulated by law in the form of rights and obligations. This emphasizes that the Government must still pay attention to justice by considering economic and social factors, which of course must be relevant to public order where a scale of justice is recognized.