Trade Provisions Research Articles

Do technology export regulations impact corporate trade credit financing? Evidence from China

Based on an exogenous shock—the 2008 revision of the Catalog of Technologies Prohibited and Restricted from Export in China—we use a difference-in-differences (DID) research design to examine the impact of technology export restrictions (TERs) on corporate trade credit financing. We document that TERs limit a firm's access to trade credit. Specifically, TERs reduce corporate trade credit by approximately 44 % compared with that of an average firm in the sample. Moreover, the negative impact is more pronounced for firms with high financial risk or high product risk. Additionally, our tests show that both upstream and downstream firms reduce their provision of trade credit to firms impacted by TERs. The results suggest that TERs add trade barriers between countries, resulting in restricted corporate trade credit financing.

Impact of the Montreal Protocol on Decision-Making Processes for Participation: A Case Study of Türkiye

This study provides a comprehensive analysis of Türkiye's decision-making processes in the context of the international ozone regime, particularly focusing on the country's engagement in the Vienna Convention and the Montreal Protocol during the 1980s and early 1990s. Utilizing process tracing methodology and primary sources, and adopting an interest-based framework the research delves into Türkiye's involvement and pinpoints the principal determinants of its international environmental policy. The study argues that Türkiye's approach to environmental cooperation in the Convention and Protocol was shaped by the incentive and sanction provisions of the Montreal Protocol, efforts to align Türkiye's commercial and political relations with the European Community, the growing involvement of Western countries in the agreements, and the potential environmental prestige gained from cooperative endeavors. The study emphasizes the trade provisions and Article 5 status within the Montreal Protocol, both of which played a critical role in influencing Türkiye's policy choices. This significance primarily stems from the requirement for new calculations in abatement costs. It illuminates the causal links between specific design elements of the ozone regime and their impact on Türkiye's policy decisions.

Exploring Liquidity Pooling and Automated Trading with COREDAOVIP Token in Decentralized Exchanges

The emergence of decentralized finance (DeFi) has transformed traditional financial systems by leveraging blockchain technology to offer decentralized solutions for trading and liquidity provision. Within the CORE Chain ecosystem, the COREDAO VIP token plays a pivotal role in facilitating liquidity pooling and automated trading across various COREDAO-based tokens. This research investigates the impact of COREDAO VIP token within decentralized exchanges (DEX) such as ICECREAMSWAP, LFGSWAP, SHADOWSWAP, and ARCHERSWAP. By analyzing its integration into these platforms, the study explores how COREDAOVIP enhances liquidity management, reduces slippage, and supports automated trading strategies. Key aspects examined include the token's utility, governance implications, and its influence on trading dynamics within the COREDAO ecosystem. Through comprehensive analysis and empirical insights, this research aims to provide a nuanced understanding of COREDAOVIP token's role in advancing decentralized finance practices and its implications for future blockchain-based financial ecosystems.

All Roads Lead to Rome Combating Impunity for Perpetration of Slave Trade and Slavery Crimes

The Republic of Sierra Leone has proposed amendments to the Rome Statute of the International Criminal Court (ICC) to include, inter alia, provisions for the slave trade as a crime against humanity and has recommended that the General Assembly include the slave trade as an enumerated crime in the Draft articles on Prevention and Punishment of Crimes Against Humanity (CAH) (Draft articles). This declaration came nearly five years after Cardozo's Benjamin B Ferencz Human Rights and Atrocity Prevention Clinic, on behalf of slavery crimes expert Patricia Viseur Sellers, sent commentaries to the United Nations International Law Commission (ILC) to revise in a similar fashion the Draft articles. The Rome Statute creates a wide impunity gap by omitting the slave trade entirely as a war crime and crime against humanity and by including only those conflict-related slavery acts that include causing someone to engage in an act of a sexual nature. Specifically, the Rome Statute does not enumerate the slave trade or slavery under Article 8 as war crimes. It does not define the slave trade within the crime of enslavement under Article 7(g) as a crime against humanity or explicitly enumerate the slave trade within the context of a widespread or systematic attack against a civilian population. War crimes conduct is not captured fully or explicitly under ICC jurisdiction because the Rome Statute sanctions only persons exercising powers attaching to the rights of ownership who also cause that person to engage in an act of a sexual nature. Crimes against humanity conduct also escapes legal sanction when perpetrators transport or otherwise engage in any slave trade acts without exercising powers attaching to the right of ownership over a person. Furthermore, the Rome Statute's bifurcation of enslavement and sexual slavery lead to non-factual, incomplete, and discriminatory results. Sexual slavery is enslavement; its separate enumeration as a crime against humanity has required some victims to prove additionally that they were caused to engage in an act of a sexual nature in violation of non-discrimination and others' slavery harms to escape legal characterization altogether.

Review on Illegal Wildlife Trade Provisions in Indonesia: Cost-Benefit Analysis and Law Enforcement

Review on Illegal Wildlife Trade Provisions in Indonesia: Cost-Benefit Analysis and Law Enforcement

Does trade credit facilitate high-quality development in agricultural enterprises? – Insights from Chinese enterprises

Agriculture is crucial for the economy and individuals, and there is a pressing need to improve its quality, efficiency, and competitiveness in emerging countries. This study uses data from Chinese-listed companies to investigate the effect of trade credit on agricultural firms’ total factor productivity. The results demonstrate that trade credit access and provision can increase agribusinesses’ total factor productivity. Heterogeneity analysis reveals that access to business credit has a higher contribution to total factor productivity for agribusinesses in the primary sector, for firms in the versus maturity stage, and with low or medium supplier concentration. The provision of trade credit has a more pronounced positive impact on agribusinesses in the maturing stage and enterprises with low or medium customer concentration. This paper further validates the channels of action through which trade credit affects a firm’s high-quality development. This research makes a valuable contribution to enhancing the quality and productivity of China’s agricultural sector.

Will digital trade provisions in regional trade agreements effectively reduce CO2 emissions in member states?

This paper constructs a depth index of the regional trade agreement (RTA) digital trade terms based on text data from 2000–2021 in the TAPED database and carbon dioxide (CO2) emission data from the Eora database since 2000. We construct a gravity model between the depth index of digital trade terms and carbon CO2 emissions to analyze the impact of digital trade terms in RTAs on the CO2 emissions of member countries. The results show that the depth of digital trade clauses in RTAs significantly reduces the CO2 emissions of member countries. Still, the impact of different clause depth indexes on CO2 emissions is different on the supply and consumption sides. The results of the heterogeneity analysis based on the types of trade agreements show that the depth of RTAs has the most significant impact on the CO2 emissions among members of South–North trade agreements. The analysis of results based on industry heterogeneity shows that digital trade terms significantly impact manufacturing CO2 emissions. The article proposes that more attention be paid to the negotiation of digital trade rules in RTAs, the construction of South–North trade agreements, and the impact of digital trade on the CO2 emissions of different industries.

Potable intellectual property: WTO TRIPS and EU geographical indication wines

AbstractThe World Trade Organization (WTO) protects geographical indication (GI) wines such as Bordeaux and Chianti. However, there is scant empirical evidence on the effectiveness of this protection. Our triple difference panel data analysis of EU wine exports from 1995 to 2019 finds a significant effect. When countries join the WTO, their import of GI wines increases by about 25% more than non‐GI wines, compared to non‐joiners. Our findings suggest that specific trade provisions matter and that the EU policy of also including wine GIs in bilateral agreements is an attempt to further improve enforcement of GI protection in third countries.

Deep trade agreements and services trade: An analysis based on service trade provisions

AbstractOur paper builds a novel panel data sourced from the Regional Trade Agreements Database and Database on International Trade in Services Statistics (ITSS) to explore the heterogeneous effects of service trade agreements on services trade. Then we employ a gravity model with the Poisson pseudo‐maximum likelihood (PPML) estimation and obtain the following findings: First, both general service trade agreements and deep service trade agreements promote services trade. Yet, deep trade agreements have a higher trade‐expansion effect (roughly 21.53%) on services trade compared to general ones (16.9%). Next, based on the content of trade‐related provisions, we find provisions of rights of non‐establishment and natural person movement largely increase the services trade, while review provisions do not have a significant impact on services trade. Surprisingly, provisions with MFN status even exhibit a negative relationship with services trade. Third, with whom you sign the agreements matters. Deep trade agreements exert a positive and significant impact on services trade between high‐income countries (NN), low‐income countries (SS) and high‐ to low‐income countries (NS), but are insignificant between low‐ to high‐income countries (SN). Four, emerging regions, including China, may benefit more from deep trade agreements. As indicated by propensity score matching, deep trade agreements reduce service trade costs and improve the business environment more effectively than GTAs. Our empirical results are robust after controlling for the endogeneity of DTAs and GTAs. Our findings provide direct evidence for the role of deep service trade agreements in fostering international economic integration.

Impact of Regional Economic Integration on Trade and Investment

Economies that have a negotiated regional trade agreement (RTA) are liberalising various economic norms among member nations (including trade, investment, environment and other strategic parameters) to strengthen long-term flows of goods, services and capital. Hence, numerous studies have been conducted to empirically examine the impact of regional integrations on trade and investment using various econometric tools and techniques. The present study was an attempt to state and identify the contribution of such studies. An insight into the existing literature depicted varied results; rather than: some studies stated that the regional economic integration is facilitating world trade and also supporting the flow of capital among member nations, whereas few studies depicted a non-collaborated association between RTA and trade/investment. Further, a review of the literature depicted that few RTAs still need to work towards enhancing the depth of trade and investment provision to further strengthen the flows of trade and investment in the years to come.

Comparative Analysis of Digital Trade Provisions: Challenges and Lessons for Singapore

Comparative Analysis of Digital Trade Provisions: Challenges and Lessons for Singapore

Review on Illegal Wildlife Trade Provisions in Indonesia: Cost-Benefit Analysis and Law Enforcement

Review on Illegal Wildlife Trade Provisions in Indonesia: Cost-Benefit Analysis and Law Enforcement

The spillover effect of customers’ management tone on supply chain: Based on suppliers’ provision of trade credit

ABSTRACTBased on the data of China’s A-share listed companies from 2007 to 2022, this paper confirms that customers’ management tone has a spillover effect in the supply chain, which in turn affects suppliers’ provision of trade credit. The results show that the more positive customers’ management tone is, the more trade credit suppliers provide. A further analysis finds that the disclosure of customers’ management tone increases analyst attention, which in turn promotes suppliers’ provision of trade credit.In addition, when the supplier’s bargaining power is lower, the regional product market is more developed, and the customers’ annual report information quality is higher, the relationship between customers’ management tone and suppliers’ provision of trade credit is more significant. This study enriches the relevant literature on supply chain management and has important practical significance for promoting the stable development of supply chains.

Can Cap-and-Trade Be a Regulatory Option to Address Groundwater Depletion and Irrigation Crises in India? Reflections, Issues & Options.

India is a global hotspot for irrigation-induced groundwater withdrawal, leading to widespread lowering of water levels, in turn resulting in disproportionate access to irrigation supplies among farming communities. Efforts to mitigate the situation, however, have fallen short, largely due to technocentric vision (e.g. microirrigation adoption) of the regulatory authorities (RAs), which does little to integrate the vast groundwater-dependent socioecologies with the decision making system. In view of that, we invite the RAs to deliberate upon a cap-and-trade mechanism that proposes to mobilize the farmers at every aspect of planning and execution, while to tackling multiple challenges simultaneously: (a) restrict groundwater pumping to a pre-defined safe level (cap), (b) creating a shared space/quotas for all to pump (allocation); and (c) making provisions for trade of allocations. The latter further augments farmers' access to groundwater (and irrigation). Using a systematic bibliometric analysis of relevant world literature and contextual appraisal of groundwater-irrigation landscape in India, we develop a conceptual framework of cap-and-trade in three parts. In the first Pre-implementation stage, we emphasize a reality check study to assess ground conditions, if favorable for a cap-and-trade approach (existing social, economic, institutional circumstances). Next, in the Implementation stage, (1) we recommend an integrated hydrogeological-hydrometeorological modeling to determine flexible capping arrangements, with the possibility of delineating certain priority regions (coastal ecosystems); (2) for allocations, a reasonable fraction of the cap over a defined period; we envision a thoroughly participatory arrangement, centering on four action areas: identifying, informing, consulting, and involving the farmers, alongside all stakeholders engaged in the groundwater-irrigation decision making; (3) for trade, we urge the RAs to create win-win situations for both the sellers and buyers; develop the transaction protocols on certain foundational principles (e.g. simplicity, transparency and consistency); strengthening of local institutions, and development of targeted financial support schemes. We consider the third part of the narrative, Post-implementation stage, as a real game changer, comprising of a monitoring, auditing (performance benchmarking) component coupled with multitiered outreach-mentoring drives that demonstrate to the farmers the benefits of becoming part of the cap-and-trade program. Overall, a main motivation to present this research is to shatter the age-old socio-cognitive beliefs/taboos around groundwater pumping (My land, My Water), breaking the hegemony of the water sellers (rich/wealthy large landholder clans), to potentially, create a social norm whereby the farmers realize the value of restricting groundwater pumping and sharing for mutual prosperity.

The Obligation Of Local Content Requirements (Lcr) Of Power Plant From The Perspective Of The World Trade Organization (WTO)

As a developing country, Indonesia requires foreign investments, particularly to improve the welfare of its people. Trade provisions are regulated by the World Trade Organization (WTO) mainly to reduce all potential barriers that emerge in the global investment realm. Along with the entry of various foreign products and investments, developing countries often apply local content requirements, which in Indonesian terms are known as the Tingkat Komponen Dalam Negeri (TKDN). Particularly in the field of electricity infrastructure development, the government of Indonesia regulates the minimum level of TKDN in the construction of power plants. The TKDN provisions normatively conflict with WTO principles, namely national treatment, because they are included in the illustrative list regulated in the Agreement on Trade-Related Investment Measures (TRIMS). In this article, the author uses a normative research method in which research is conducted by examining Indonesian TKDN regulations related to the construction of power plants against the WTO agreement for a more in-depth analysis. This article aims to examine whether the TKDN provisions made by the Indonesian government are parallel with the WTO policies. It can be concluded that Indonesia's TKDN policy could violate WTO provisions. Still, if the TKDN policy is for the welfare of the community and managed directly by the government, it could be excluded since it is conducted not within purely commercial profits purposes.

A Study on China's Digital Trade Dispute Settlement Mechanism in the Perspective of CPTPP

In the rapid development of digital trade, the digital trade dispute settlement mechanism also needs to be updated and adapted accordingly, thus promoting China's discursive and equal participation in world digital trade. The volume of digital trade in China is growing rapidly, yet the corresponding digital trade dispute settlement mechanism has not yet formed a sound system. This contradiction has become an urgent problem to be improved and solved in the field of digital trade in China. By comparing the digital trade dispute settlement provisions between China's FTA and CPTPP, this paper analyzes the deficiencies of China's relevant provisions in terms of openness, procedure, and efficiency. Most of these deficiencies originate from the lagging nature of China's digital trade provisions and the imperfection of procedures. Based on this, this paper provides suggestions respectively on the problems above. This includes making special provisions for dispute settlement in the field of digital trade, improving the provisions on suspension of concessions, and establishing rules ensuring transparency. Specifically, this put a high bar on the selection of panelists, the public enclosure of hearings and documents, and the application of the Third-Party participation principle.

Highest Priority Trade Provisions Related to Sustainable Development and Climate Change: Streamlining Climate Change Commitments in Horizontal Chapters of EU-Americas FTAs

Highest Priority Trade Provisions Related to Sustainable Development and Climate Change: Streamlining Climate Change Commitments in Horizontal Chapters of EU-Americas FTAs

Environmental agreements as clubs: Evidence from a new dataset of trade provisions

Creating intergovernmental environmental clubs is a prominent policy proposal for addressing global environmental problems. According to their proponents, environmental clubs provide an incentive to join them and accept their environmental obligations by generating exclusive “club goods” for their members. Yet, the existing literature considers environmental clubs as a theoretical idea that still has to be put into practice. This article asks whether, in fact, the numerous international environmental agreements (IEAs) containing trade-related provisions provide club goods to their parties. It does so by investigating the effects of these provisions on trade flows among parties compared to flows with non-parties. We introduce an original dataset on 48 types of trade provisions in 2,097 IEAs that we make available with the publication of this article. Based on this new data and a panel of worldwide bilateral trade flows, we find evidence that existing IEAs and their trade-liberalizing content are associated with increased trade among their parties relative to trade with non-parties. We conclude from this finding that systems of IEAs provide club goods to their parties. Uncovering the existence of environmental clubs has significant methodological and policy implications. It is an important first step for future research on the actual effectiveness of clubs in attracting participation and raising environmental standards.

Historical aspects of the profit category formation and its modern interpretation for enterprises of the hotel and restaurant business

The study purpose is (1) to examine the historical aspects of the economic category “profit” formation, (2) to determine the modern characteristics of the category "profit" and (3) of the profit formation features for enterprises of restaurant and hotel business. A systematic review of scientific literature on the topic was used to study the historical aspects of the profit category formation and of its current state. In order to assess the profit economic importance as a basis for the state development, time series analysis was used, as well as a graphical method based on Excel. Modelling was applied to assess the impact of factors on profit formation in the hotel and restaurant business. The results of the analysis of the scientific literature referred to the topic of the study show the ambiguous attraction of the profit category in the historical aspect of its development. Profit is a multifaceted and complex category that has constantly evolved from antiquity to modern times. The meaning of profit is evidenced by the fact that it is the main source of financial resources at the micro- and macro- levels. Income tax is important for formation of state budget revenues. The analysis of profit tax revenues and its share in Ukraine’s consolidated budget shows that the profit tax share in the revenues structure of the Ukraine consolidated budget fluctuates over the past 7 years within the range of 6–11%. Hotel and restaurant businesses belong to the service sector. At the same time, restaurant enterprise accomplishes the functions of production, trade, and service provision. An analytical study of the influence of factors on the formation of profit requires a qualitative analytical model that would take into account the specified specifics. Such a model should be based on a marginal approach.

Trade, policy, and economic development in the digital economy

This paper assesses the impact of internet connectivity and digital trade policies on trade and welfare. Using new measures of internet connectivity, we find a significant positive relationship between internet use, bandwidth capacity, and trade. The positive relationship between internet use and trade is present for international and domestic trade, goods and services, high- and low-income exporters, and at the intensive and extensive margin. We also find that digital trade facilitation provisions in trade agreements have significantly increased trade for high-income exporters, especially for services trade. Informed by these findings, we use a general equilibrium model of trade to assess the trade and welfare impacts of increased internet connectivity and digital trade policies for developing countries. Increasing internet connectivity can have large positive welfare impacts on poorly connected countries, but these results also highlight the dangers of developing countries falling behind if they are not able to improve internet infrastructure. Introducing digital trade provisions into an existing trade agreement between high- and low-income countries can facilitate growth in trade in services for both members.