Freedom Of Trade Research Articles

Decentralized Finance (DeFi) vs. Centralized Finance (CeFi)

This research paper explores the dichotomy between Centralized Finance (CeFi) and Decentralized Finance (DeFi) within the context of the Indian Constitution. It critically analyzes the constitutional implications of both systems, particularly focusing on how centralized authorities may misuse their power to curtail freedoms guaranteed under the Constitution. Additionally, the paper investigates how DeFi can support constitutional values such as privacy, freedom of trade, and equality. Finally, it examines how centralized authorities are actively hindering DeFi-based implementations to maintain control over financial systems, thereby compromising democratic principles.

The role of economic freedom in the development of international tourism in Asian countries

Purpose ― This paper aims to investigate the influence of economic freedom and its components, namely business freedom and trade freedom, on international tourist arrivals in Asian countries. Additionally, it examines the effect of important macroeconomic factors, such as foreign direct investment, exchange rates, political stability, GDP per capita, and inflation on international tourist arrivals in Asian countries.Methods ― The GMM two-step estimation system is used to analyze data from 25 Asian countries from 1995 to 2020.Findings ― The results show that economic and trade freedom positively influence tourism, while business freedom has a less distinct impact. Inflation positively contributes to tourist arrivals. Exchange rates and political stability show inconclusive effects.Implications ― The study recommends that governments prioritize expanding economic freedom to boost international tourism.Originality ― This is the first study on the impact of economic freedom on developing international tourism in Asian countries.

Regime support in Singapore: from enigma to ‘new normal’

ABSTRACT Singapore is seen as an outlier or abnormal case by political scientists, defying predictions in the social science literature about the causal connection between economic development and democratization. Using data from three different waves of the Asian Barometer Survey (ABS), we found that Singapore’s regime resilience is a product of citizen support for the government’s performance in providing economic welfare, together with positive evaluations of the current regime. But our findings also indicate that the degree to which these factors influence regime resilience has changed over time. What we found suggest that Singapore’s regime resilience cannot be simply reduced to elite repression, or an electorate that has chosen to trade freedom for economic development. The consistent electoral support received by the ruling party in Singapore is the product of a more complex relationship with democracy than just a vote for authoritarianism or prioritizing economic development over democracy.

THE EFFECT OF THE SHADOW ECONOMY AND ECONOMIC FREEDOM ON ENTREPRENEURSHIP: AN EMPIRICAL STUDY IN ASIAN COUNTRIES

This study examines the effect of the shadow economy, economic freedom and other macroeconomic factors on formal entrepreneurship in Asian countries. The dataset encompasses 28 countries over the period from 1995 to 2018. The Fixed Effect Model (FEM) and Generalized Least Squares (GLS) methodologies are employed for regression analysis. The results indicate a nonlinear relationship between the shadow economy and formal entrepreneurship. Economic freedom, particularly trade freedom, significantly enhances entrepreneurship. Positive macroeconomic influences on formal entrepreneurship include financial development, political stability, GDP per capita growth and foreign direct investment net inflows, while government spending and unemployment negatively affect entrepreneurship. The findings suggest that a substantial shadow economy does not inherently impede formal entrepreneurship. Consequently, governments should prudently consider the role of the shadow economy in fostering entrepreneurial growth. Moreover, policies aimed at improving economic freedom, especially trade freedom, can create a conducive environment for boosting formal entrepreneurship.

Economic and political freedoms as indicators for determining the political regimes of today

Economic and political freedoms are often used as key indicators to classify types of political regimes. These freedoms, which include freedom of speech, freedom of the press, and economic freedoms such as freedom of business and freedom of trade, significantly affect how a country is perceived as a democracy or an autocracy. Democracies are typically characterized by high levels of these freedoms, allowing open expression and market regulation that encourages competition and fair trade. In contrast, autocratic regimes often impose restrictions on both speech and economic activity, limiting the scope of political discourse and centralizing economic control. These freedoms not only reflect, but also shape the political landscapes of modern states. The synthesis of freedoms with political governance not only determines the internal dynamics of nations, but also affects their relationships on the global stage. Ensuring the development and protection of these freedoms is of paramount importance to the development of stable, prosperous and just societies around the world. Economic and political freedoms are the foundation of democratic government and are essential to the personal and economic well-being of citizens.The purpose of the work is to conduct a study of the influence of the scope of economic and political rights and freedoms on the formation of the political regime in the country. The object of the research iseconomic and political freedoms as key criteria for the classification of types of political regimes. The subject of the research is social relations that arise, change and cease in the process of consolidation and implementation of economic and political rights and freedoms and their influence on the formation and functioning of democratic and autocratic political regimes. Research methodology includes methodological approaches (active, systemic, comparative, axiological), general scientific methods of thinking (analysis, synthesis, abstraction, generalization), philosophical (dialectical, metaphysical, hermeneutic, epistemological), general scientific (historical, synergistic, functional, structural) and specifically scientific (formal-legal, comparative-legal) methods. As a result of the study, problematic issues related to the problem were analyzedwith the realization of economic and political freedoms as key indicators of the country's political regime, which significantly affect the trajectory of its development and international position.

How does business credit environment affect exports performance of small and medium-sized enterprises: Evidence in China

This paper uses matched data from the CSMAR database and the China City Statistical Yearbook through a fixed effects model to examine the impact of business credit environment on small and medium-sized enterprises (SMEs) exports at the city level in China. Considering the possible endogenous problems, this paper chooses the number of scholars in Ming and Qing dynasties as the instrumental variable of urban commercial credit environment. The empirical results show that: Firstly, the improvement of urban business credit environment has a significant contribution to the export growth of enterprises; Secondly, the mechanism of the role of urban business credit environment on SMEs exports is mainly expressed through promoting R&D investment and enhancing market dynamics; Thirdly, the business credit environment is more obvious to state-owned enterprises, eastern regions and cities with less trade freedom. With the development of urban business credit environment, individuals or companies join the competition in the industry through new start-ups to stimulate corporate exports, and existing SMEs promote corporate exports through local preferential policies, increased investment in R&D, and optimized innovation policies as well as resource allocation.

Road map from dirty growth to sustainable green growth in Turkiye: Management of trade and financial processes?

This study examines how business, financial, monetary, and trade freedom influence Turkiye's green growth from 1995 to 2022, utilizing the ARDL approach to cointegration. Our results confirm the long-term cointegration among the variables. Robustness tests, such as Fully Modified Ordinary Least Squares (FMOLS) and Dynamic Ordinary Least Squares (DOLS), consistently show that business and trade freedom hinder Turkiye's green growth. Financial freedom and monetary freedom consistently foster it. Business freedom and heightened trade freedom lead to increased fossil fuel consumption, whereas monetary freedom stabilizes Turkiye's currency, and financial freedom promotes entrepreneurship. Enhancing eco-friendly energy sources and investing in green technologies are crucial for promoting sustainable growth, reducing production costs, fostering entrepreneurship, and encouraging competition. The fact that the impact of these variables on green growth in Turkiye has not been studied before makes the study's findings novel.

Environmental Protection under Free Trade --Analysis of China's Rare Earth Resources Export Restriction Case

With the rapid development of today's society and economy, the exploitation and utilization of natural resources and the environment are also intensifying in various countries, and China is no exception. In order to realize the socialist modernization power, China's economic development can not be delayed, for the use of rare earth resources and the protection of attention is also essential, in this context, in 2012, the United States, the European Union, Japan v.China to WTO dispute settlement mechanism, on China's rare earth resources and other raw materials export restrictions on the lawsuit, so that a "war of defense of rare earths Since then, a "rare earth defense war" has been launched, in the case of The General Agreement on Tariffs and Trade 1994 (GATT1994) Article 20 of the general exceptions to environmental protection regulations can be invoked to apply, became the main focus of controversy in the case. Meanwhile, under the conditions of WTO trade freedom rules, how China coordinates its domestic policies and improves the environmental protection measures for natural resources is also an issue worth thinking about.

Determinants of Business Freedom in Developing Countries: The Role of Institutional Development and Policy Mix

Smooth and stable commercial/business activities are the prime concern of every nation, as these activities decide the developmental routes of the economy. This study has examined the role of institutional development and policy mix in determining business freedom in developing countries. Institutional development has been measured with the help of government effectiveness and political stability. Policy mix have been measured with the help of monetary freedom and fiscal freedom. To examine the impact of explanatory variables on the explained variable, this study has used panel least squares, random effect model, and generalized method of moments. The estimated results show that fiscal freedom has a negative and significant impact on business freedom, whereas, monetary freedom has an insignificant impact on business freedom in the case of developing countries. The results show that government effectiveness, political stability, and tread freedom are encouraging business freedom in developing countries. The corporate tax has a negative and significant impact on business freedom. Empirical show that developing countries are more inclined towards non-developmental expenditures, thus to control the negative impacts of fiscal freedom developing countries needs rationalization in government expenditures. Developing countries should promote government effectiveness, political stability, and trade freedom to enhance business freedom. To control the negative impacts of corporate taxes, developing countries should rationalize tax policies to promote business freedom.

Reasons for International Trade Barriers and Suggestions to Eliminate Trade Barriers

In the International trades, trade barriers are common. However, regardless of how some countries may view the trade barriers, the tendency of world trade is still open and free. Besides, some international laws and treaties have regulated that states should promote the freedom of international trade, or it is against the obligations. Therefore, it is necessary to research on why international trade barriers exist and to give some suggestions to solve this problem. This paper conducted a literature review in the reason for international trade barriers. Four angles were being discussed: domestic political, income inequality, national security and culture influence. After examining 30 papers and law provisions, we got some conclusions. Reasons for international trade barriers are diverse, including the protection for states economy, security and the peoples interests. It also takes narrow nationalism and extreme patriotism and populism into consideration. To solve this problem, this paper suggests from the reform of WTO and some changes in the international treaties. On the other hand, this paper also has some advice to states to solve their domestic conflicts.

The majesty of commerce. Between royal supreme dominion and commercial law in the Spanish Indies (1674-1693)

This article analyses how, through trade, the “supreme power” of the Hispanic monarchy was refuted by natural law and the law of nations at the end of the 17th century in the kingdoms of the Indies. This work explains –from the court system approach– the reasons that provoked the turning point of a disintegration of the domestic economic system (oeconomia), based on the grand governments of the viceroys in Spanish America, to give way to another model of political economy, more secularised and centralised (Consulado de Comerciantes de Lima), in which freedom of trade and the defence of individual property led to the reconfiguration of the political and economic space of America. Finally, it will be concluded that the American consulates of commerce encouraged the end of the “absolute power” of the viceroys, while promoting commercial development and the defence of the law of nations, anticipating the reforms of the Enlightenment.

A multi-level analysis of the relationship between formal institutions and ambitious entrepreneurship: The moderating role of economic development

Prior research predominantly focuses on institutional drivers of different levels of entrepreneurship across countries instead of specific types of entrepreneurship that can create considerable economic impact. In contrast, we investigate which formal institutions (i.e., government integrity, regulatory efficiency, and trade freedom) affect ambitious entrepreneurship (AE). Ambitious entrepreneurs are both opportunity-driven and innovative. Moreover, we introduce economic development as a boundary condition of these relationships. Using a multi-level research design and analyzing data from the Global Entrepreneurship Monitor (GEM) with 2,121,002 individuals from 101 countries, we find that regulatory efficiency and trade freedom positively affect AE. Surprisingly, government integrity negatively impacts AE, but higher economic development mitigates this negative relationship. Our study informs the discussion on the nexus between comparative international entrepreneurship, institutions, and economic development.

The role of financial inclusion, urbanization, and energy efficiency on environmental performance in belt and roads initiative (BRI) economies

The primary objective of the study is to determine how environmental performance is affected by several factors, including trade freedom, industrial production, urbanization, financial inclusion, and energy efficiency. This research provides a novel perspective on the environmental performance of Belt and Roads Initiatives (BRI) member states by employing panel data from 1991 to 2021. It contributes to our understanding of the role of several factors in improving environmental performance. Panel data analysis also incorporates the CD, CIPS, FMOLS, DOLS, and PMG-ARDL tests. This research possesses substantial theoretical ramifications, as it might enable the expansion and refinement of current economic and environmental theories. As per the findings of this research, each factor significantly affects environmental performance (ecological foot-point). This contributes to short-term environmental issues by conserving resources and lowering emissions, creating the framework for long-term environmentally friendly procedures and innovation. Strong environmental policies that may cause effective environmental performance in Belt and Roads Initiatives (BRI) countries.

The ‘Palladium of prosperity’: Lobbying between Marseilles and Paris from the revolution to the restoration (1789-1817)

This article investigates the multifaceted lobbying activities carried out by the Chamber of Commerce of Marseilles (CoC) from the French Revolution to the Restoration periods (ca. 1789-1817). Part of historical literature recognises this crucial period as the birth of modern-day lobbyism. I will examine the long and heated political debates regarding the free port of Marseilles, definitively abolished in 1817, through the strategies employed by the CoC to preserve it. These strategies encompassed sending delegates to Paris, discreetly engaging with state councillors and ministers, disseminating pamphlets and songs, as well as consolidating influence on municipal and regional powers. Freedom of trade in this context was paradoxically intertwined with the local merchants’ monopoly on the lucrative French Levant trade, alongside the prosperity of hinterland manufacturing facilitated by mercantilist policies.

A Study on the Competitiveness and Influencing Factors of the Digital Service Trade

In today’s digital era, the rapidly escalating digital service industry plays a crucial role in the country’s economic development. However, compared to the countries that are a part of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), the competitiveness level of China’s digital service trade still needs to be improved. This paper aims to know the differences in the competitiveness of the digital service trade between China and CPTPP countries and explore the factors affecting competitiveness in both exports and imports to improve China’s competitiveness level and narrow the gap with CPTPP, thereby promoting its accession process. This paper first uses China and CPTPP countries’ 2010–2022 import and export volume of digital service data to calculate each country’s revealed comparative advantage index, trade competitiveness index, market share, and Michaely fluctuation index indicators, further comparing the comprehensive level of competitiveness between countries. Then, based on the diamond theory, multiple regression analyses will be conducted based on the factors influencing digital service trade competitiveness and using the indicator data of influencing factors in each country for 2010–2021. The conclusions show that China’s digital service trade competitiveness ranked relatively high among CPTPP countries. The competitiveness of imports and exports of the digital service trade is influenced positively by several factors, including the degree of trade freedom, government efficiency, the number of fixed broadband subscriptions per 100 people, and the industry’s openness. The value of exports of trade in goods has a positive effect on export competitiveness, the enrolment rate in tertiary education has a positive effect on import competitiveness, and the ratio of employed in the service sector to the total employed has a dual effect, facilitating export competitiveness and inhibiting import competitiveness.

Some considerations regarding the object of the crime provided for in art. 2461 Criminal code of the RM (unfair competition)

Crimes are always based on the existence of a certain relationship or situation that is violated by the act of conduct that constitutes the crime. This relationship or situation is what is called the object of the crime.
 The Constitution of the Republic of Moldova in article 9 paragraph (3) proclaims that «The market, free economic initiative, fair competition are the basic factors of the economy», and in article 126 paragraph (2) letter b) it is provided that «The State must ensure the freedom of trade and entrepreneurial activity, the protection of fair competition, the creation of a favorable framework for the exploitation of all production factors».
 Starting from the mentioned requirement, the legislator established a complex mechanism that would ensure its fulfillment, among which there is a corresponding normative framework.
 Considering the diversity of the actions that constitute unfair competition, the fields in which they can be committed, determining the object to which the crime of unfair competition is aimed is of significant importance.
 In this scientific article, a detailed analysis of the concept of «object of the crime of unfair competition» was carried out under the provisions of the legislation of the Republic of Moldova. The article highlighted the importance of the object of the offense in the context of unfair competition, showing how it serves as a central pillar for establishing guilt and enforcing the law. It was emphasized that the object of the crime of unfair competition consists of protecting commercial and economic interests, as well as preventing unfair practices that harm the competitive environment. This scientific article provides a clear and informed perspective on the object of the crime of unfair competition in the Republic of Moldova, highlighting the importance of this concept in law enforcement and in maintaining a fair and equitable competitive environment.

Unfair competition – an attack on the patrimonial rights of natural and legal persons

The subjects of the economic activity, whether they are natural persons or legal entities, are obliged to exercise their activity in good faith, according to honest usages, respecting the interests of consumers and the requirements of fair competition.
 Based on the principles of freedom of trade and freedom of competition, any merchant has the right to attract the clientele of his competitors. Thus, the act of competition, even if it causes damage to some economic agents, is not illegal by itself, but only if the means, acts or facts used to attract customers are unfair.
 A basic principle/inherent condition of the market economy is the competition between the companies carrying out economic activity on the respective market, of course when this competition is by the customs and provisions governing the rivalry of competitors.
 The present study is intended to analyze the phenomenon of competition through the legislation of the Republic of Moldova that regulates competitive relations, including, addressing issues related to the identification and responsibility of the actors/ subjects of competitive relations, the types of legal liability, and the impact of unfair competition on the competitive environment in general and, on the rights and interests of natural and legal persons, but also of the society in particular.
 The authors analyzed the provisions of competition legislation to identify the regulatory framework's quality and its deficiencies. For this purpose, the authors analyzed the provisions of the competition law no. 183/2012 and the Republic of Moldova's administrative, contraventional, and criminal Code.
 The conclusions reached by the authors revealed a series of legislative loopholes, but also new research directions that would constitute the basis for certain recommendations and proposals for improving the analyzed normative framework.

Does trade freedom affect exchange rate movement? A perspective of high-technology trade

Changes in the degree of trade freedom influence economic development and foreign investment, which in turn, affect currency values and exchange rate movements. Therefore, this study examined the direct and indirect impacts of trade freedom on exchange rate movement in emerging, developing, and developed economies. Empirical tests conducted using panel data from 75 countries revealed that trade freedom has a nonlinear U-shaped relationship with exchange rate movement, which is positively moderated by high-technology trade and foreign direct investment. Additionally, the results of heterogeneity analysis showed that trade freedom has a linear positive impact on the exchange rate movement of developed economies but a U-shaped impact on emerging and developing economies, with a stronger impact on emerging economies. The findings of this study provide valuable insights for governments to strike a balance between promoting trade freedom and maintaining currency exchange rate stability.

Legal Complications Relating to Things Outside Commerce: A Overview from Past to Present. Based on the Lottery Case in the State of Mizoram

Abstract: “Res Extra Commercium” is a Roman law doctrine that translates to “things outside commerce”. In State of Bombay v R.M.D. Chamarbaugwala , Justice Das introduced this doctrine into the Indian jurisprudence. The doctrine was introduced to constrict the scope of freedom of trade and commerce, a fundamental right, guaranteed under Article 19(1)(g) of the Indian Constitution. It constricts the scope by excluding certain “immoral” or “noxious” trade activities from the scope of Article 19(1)(g) and thereby, depriving them of Constitutional protection. The doctrine of res extra commercium seeks to exclude certain activities from the ambit of freedom of trade and profession guaranteed under Articles 19(1)(g) and 301 of the Constitution of India. Tracing back the origin of the doctrine to Roman Law has commented to the effect: The res extra commercium doctrine traces its conceptual roots to Roman law. Res in commercio, in Roman law, were things capable of ownership and hence, the subject of property rights, while res extra commercium were things incapable of ownership. In light of this, the doctrine applies to those things that are not objects of commerce i.e., they are extra commercio. In Justinian’s Institutes of Roman Law, only three classes of entity are conceptually treated as res extra commercium:

“Navigating the Ethical Landscape: Right to Privacy in the Age of AI”

The fundamental rights were included in the constitution because they were considered essential for the growth of the personality of every individual to preserve human dignity and liberty, such are freedom of speech, expression movement, residence, trade and occupation protected by the State because they were considered essential for the development of the personality of every individual. Right to life guaranteed under Fundamental Rights article 21 of the Constitution of India, is not merely a fundamental right, it includes right to life and personal liberty which are most precious, sacrosanct inalienable and fundamental of all the fundamental rights of citizens which also assure, right to privacy. Right to privacy which are the most essential and basic human rights in a democratic form of government. In our increasingly digitized world, the intersection of artificial intelligence (AI) and the right to privacy has become a paramount concern. The right to privacy, a fundamental human right, faces unprecedented challenges in the wake of AI advancements, like personal data, questions about consent, transparency, and individuals’ privacy. This research paper seeks to unravel the intricate relationship among all these realms, exploring the ethical dimensions that arise as AI technologies permeate various aspects of our lives. Furthermore, our discussion will extend to the ethical responsibilities of AI developers, policymakers, and users, will gain insights into designing AI systems that prioritize privacy, emphasizing the need for ethical considerations throughout the development life cycle. A responsible and privacy-centric approach to AI deployment. This seminar paper seeks to unravel the intricate relationship among all these realms, exploring the ethical dimensions that arise as AI technologies permeate various aspects of our lives. The right to privacy, a fundamental human right, faces unprecedented challenges in the wake of AI advancements, like personal data, questions about consent, transparency, and individuals’ privacy. The methodology of the study is the descriptive analysis of doctrinal research and based on secondary sources like book, journal. articles and case laws