A partnership with academia

Building knowledge for trade and development

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        Aspectos Normativos De La Inversion Extranjera En Colombia (English)
        Discussion paper by Ceron Z., Pilar V./Universidad EAFIT, 2007, 112 pages
        Categories: International Economic Law, Investment, VI Members Research

        La presente investigación tiene como objetivo central hacer un estudio detallado y profundo -estado del arte- de las normas domésticas e internacionales en materia de inversión extranjera, a la luz de las principales teorías de las Relaciones Internacionales. En el nivel doméstico la normatividad sobre este tema se encuentra dispersa a lo largo de todo el ordenamiento jurídico, en diferentes regímenes, haciéndose difícil la comprensión del tema. En el estudio además de unificar estas disposiciones se hizo un análisis extenso sobre las mismas. El mismo ejercicio se realizó en el ámbito internacional, para lo cual se analizaron todos los acuerdos, convenios y tratados internacionales en materia de inversión, ratificados o negociados por Colombia hasta la fecha, como quiera que son éstos los que marcan la pauta en materia de elaboración de normas locales con base en modelos propuestos por la comunidad internacional.

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        Beyond the IMF (English)
        Discussion paper by Kapur, Devesh; Webb, Richard / UNCTAD, 2007, 34 pages
        Categories: International Financial System

        A consensus has developed that the International Monetary Fund (IMF) is not fulfilling its role, prompting multiple proposals for reform. However, this paper argues that the focus on reform should be complemented with an exploration of alternatives outside the IMF which hold the potential to not only give developing countries greater bargaining leverage with the Fund but also, by increasing competition, spurring the institution to better performance. The paper argues that most of the IMF’s functions are being carried out in part through alternative institutional arrangements. It focuses in particular on the insurance role of the Fund and argues that developing countries are developing alternative insurance mechanisms, from a higher level of reserves, to regional co-insurance facilities to remittances as a counter-cyclical source of foreign exchange. The de facto exit of its clientele has been driven by the high political costs associated with Fund borrowing and now poses unprecedented challenges for the Fund, in particular pressures on its income. The paper argues for a rapid restructuring and significant cuts of the Fund’s administrative budget with the budget savings instead directed to lower the interest rates charged to borrowers.

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        Big Dragon, Little Dragons: China's Challenge to the Machinery Exports of Southeast Asia (English)
        Working paper by Rahardja, Sjamsu /World Bank, 2007, 42 pages
        Categories: Trade Policy Analysis and Trade Data Sources

        This paper investigates the extent of China's export boom in machinery and analyzes trade in components and finished machinery between China and Southeast Asia. China has increased its world market share in machinery exports. The median relative unit value of its finished machinery exports has also risen. Yet the author finds no evidence that China's expansion in the world machinery market has squeezed the market shares of Southeast Asian machinery exports. Instead, components made by Southeast Asian countries are increasing in unit value and gaining market share in China.

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        Clothing and Export Diversification: Still a Route to Growth for Low-Income Countries? (English)
        Working paper by Brenton, Paul; Hoppe, Mombert /World Bank, 2007, 35 pages
        Categories: Trade Policy Analysis and Trade Data Sources

        Can the clothing sector be a driver of export diversification and growth for today's low-income countries as it was in the past for countries that have graduated into middle income? This paper assesses this issue taking into account key changes to the market for clothing: the emergence of India and especially China as exporting countries; the rise of global production chains; the removal of quotas from the global trading regime but the continued presence of high tariffs and substantial trade preferences; the increasing importance of large buyers in developed countries and their concerns regarding risk and reputation; and the increasing importance of time in defining sourcing decisions. To assess the importance of the factors shaping the global clothing market, the authors estimate a gravity model to explain jointly the propensity to export clothing and the magnitude of exports from developing countries to the E U and US markets. This analysis identifies the quality of governance as an important determinant of sourcing decisions and that there appears to be a general bias against sourcing apparel from African countries, which is only partially overcome by trade preferences.

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        Coaliciones Entre Los Países De América Latina Y Caribe En Las Relaciones Multilaterales Del Comercio Agrícola
        Study by Alfaro, Daniela/Universidad de la República, 2007, 38 pages
        Categories: Trade Policy Analysis and Trade Data Sources, WTO Issues/Multilateral Trading System, VI Members Research

        El estudio analiza la consistencia de los rasgos estructurales e influencia de los procesos de integración regional de los países de América Latina y el Caribe (AL y C) y de la modalidad de acceso comercial en Estados Unidos en la posición adoptada en las negociaciones agrícolas multilaterales. Se utiliza la técnica multivariada de cluster para medir las “distancias” entre los países a través de indicadores económicos, de desarrollo, agrícolas, comerciales, política agrícola comercial y de intensidad comercial con EUA. Tres hallazgos merecen resaltarse. El primero refiere a la posibilidad de esperar una convergencia entre los países latinoamericanos hacia una posición agrícola común en las negociaciones agrícolas de la OMC, al utilizar la correspondencia entre los tres clusters hallados y las coaliciones de negociaciones existentes. Una segunda constatación refiere a la influencia de los procesos de integración regional en la formación de las coaliciones para las negociaciones multilaterales. Y por último, se constató que la posición que adopten los países en las negociaciones agrícolas internacionales está “ligada” a la relación comercial con EUA.

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        The Concept of Odious Debt in Public International Law (English)
        Discussion paper by Howse, Robert, 2007, 31 pages
        Categories: Finance for Development, International Economic Law

        What: The odious debt concept seeks to provide a moral and legal foundation for severing, in Whole or in part, the continuity of legal obligations where the debt in question was contracted by a prior “odious” regime of a country and was used in ways that were not beneficial or were harmful to the interests of the population. The paper examines the odious debt doctrine largely in the context of selected, relevant past or ongoing political transitions; the possibility of ex ante declaration of debt as “odious” is, however, discussed briefly in chapter V in relation to private and governmental creditors. How: The paper can be used as a reference for the issue of odious debt in classes on international law. Who: Faculty teaching international law.

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        Coordinating Public Debt Management with Fiscal and Monetary Policies: an Analytical Framework (English)
        Working paper by Togo, Eriko /World Bank, 2007, 37 pages
        Categories: Finance for Development, Macroeconomic Policy

        This paper proposes a sovereign asset and liability management framework for analyzing the interrelationships between debt management, fiscal and monetary policies. It illustrates the consequences of uncoordinated policy mix and extends Sargent and Wallace (1981 and 1993) by including debt management. Examples of policy games played by fiscal, monetary, and debt management authorities reinforce the importance of policy separation and coordination to prevent domination by one authority over another which could lead to inconsistent policy mix.

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        A Cross-Country Analysis of Public Debt Management Strategies (English)
        Working paper by Melecky, Martin /World Bank, 2007, 42 pages
        Categories: Finance for Development, Macroeconomic Policy

        This paper analyzes results of a survey on debt management strategies conducted by the Banking and Debt Management Department of the World Bank. The analysis focuses on (1) whether a public debt management strategy exists in a given country, (2) whether it is made public, and (3) in which form it is imparted. The paper analyzes the distribution of the latter characteristics over different regions, income groups, and levels of indebtedness using graphical analysis. Using regression analysis, it investigates the extent to which basic economic factors can explain the characteristics of public debt management strategies across countries.

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        Developing Countries and Enforcement of Trade Agreements: Why Dispute Settlement is Not Enough (English)
        Working paper by Bown, Chad P.; Bernard M., Hoekman /World Bank, 2007, 33 pages
        Categories: International Economic Law, WTO Issues/Multilateral Trading System

        Poor countries are rarely challenged in formal World Trade Organization trade disputes for failing to live up to commitments, reducing the benefits of their participation in international trade agreements. This paper examines the political-economic causes of the failure to challenge poor countries, and discusses the static and dynamic costs and externality implications of this failure. Given the weak incentives to enforce World Trade Organization rules and disciplines against small and poor members, bolstering the transparency function of the World Trade Organization is important for making trade agreements more relevant to trade constituencies in developing countries. Although the paper focuses on the World Trade Organization system, the arguments also apply to reciprocal North-South trade agreements.

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        Developing Countries in International Trade 2007: Trade and Development Index (English)
        Report by UNCTAD, 2007, 200 pages
        Categories: Trade Policy Analysis and Trade Data Sources

        The Trade and Development Index (TDI), the second in a series after its inaugural presentation in 2005, is an innovative analytical tool that allows policy makers and practitioners to identify possible constraints to using trade as a vehicle for social and economic development. The Index identifies strengths and weaknesses of a country's institutional and policy environment, including all key indicators that affect the trade and development performance. This year's edition is enlarged by a series of country profiles for each of the 123 countries represented in the analysis, which offers the reader a tool for comparative studies among countries and regions of their trade and development performance.

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        East Asia’s Counterweight Strategy: Asian Financial Cooperation and Evolving International Monetary Order (English)
        Discussion paper by Sohn, Injoo, 2007, 24 pages
        Categories: Emerging Economies and South South Cooperation, International Financial System

        In the aftermath of the Asian economic crisis, East Asian countries including ASEAN member states, China, Japan and the Republic of Korea, have increasingly sought to establish a regional system of financial cooperation. The study looks at the main drivers of this process and examines the progress made. The two key initiatives are the 'Chiang Mai initiative', which is designed to provide liquidity to member countries with short-run balance of payments problems and could develop into an Asian Monetary fund, and the 'Asian Bond Fund initiative', a regional bond market aiming to keep foreign reserves in the region and to reduce vulnerability to external financial shocks. The author also discusses the prospects and the challenges faced by the initiatives, such as regional economic diversity, geopolitical rivalry (in particular between Japan and China), and the relation to the IMF, the US and the EU. How: Describing East Asian responses to financial crisis, thus raising awareness about regional options in this area. Who: Policy makers in the field of regional and multilateral financial cooperation.

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        The Economic Community of West African States: Fiscal Revenue Implications of the Prospective Economic Partnership Agreement with the European Union (English)
        Working paper by Zouhon-Bi, Simplice G.; Nielsen, Lynge /World Bank, 2007, 30 pages
        Categories: Regional and Bilateral Trade Agreements, Trade Policy Analysis and Trade Data Sources

        This paper applies a partial equilibrium model to analyze the fiscal revenue implications of the prospective economic partnership agreement between the Economic Community of West African States (ECOWAS) and the European Union. The authors find that, under standard import price and substitution elasticity assumptions, eliminating tariffs on all imports from the European Union would increase ECOWAS' imports from the European Union by 10.5-11.5 percent for selected ECOWAS countries, namely Cape Verde, Ghana, Nigeria, and Senegal. This increase in imports would be accompanied by a 2.4-5.6 percent decrease in total government revenues, owing mainly to lower fiscal revenues. Tariff revenue losses should represent 1 percent of GDP in Nigeria, 1.7 percent in Ghana, 2 percent in Senegal, and 3.6 percent in Cape Verde. However, the revenue losses may be manageable because of several mitigating factors, in particular the likelihood of product exclusions, the length of the agreement's implementation period, and the scope for reform of exemption regimes. The large country-by-country differences in fiscal revenue loss suggest that domestic tax reforms and fiscal transfers within ECOWAS could be important complements to the agreement's implementation.

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        Economic Development in Africa 2007 - Reclaiming Policy Space: Domestic Resource Mobilization and Developmental States (English)
        Report by UNCTAD, 2007, 123 pages
        Categories: Finance for Development, Globalization and Development Strategies

        What: The report urges African countries to rely more on domestic resource mobilization for their financial needs thus claiming ownership of their development processes and addressing their genuine priorities. It is informative in terms of actual and theoretical examples of beneficial macroeconomic state interventions, particularly in the African context and when it comes to development financing. How: The report can be used as background material for macroeconomics classes and may spark research ideas in the area of domestic resources mobilization. Who: Faculty engaged in teaching macroeconomics or in research on domestic resource mobilization.

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        Economic Development in Africa 2007: Reclaiming Policy Space: Domestic Resource Mobilization and Developmental States - Overview (English)
        Summary by UNCTAD, 2007, 11 pages
        Categories: Finance for Development, Globalization and Development Strategies

        What: The report urges African countries to rely more on domestic resource mobilization for their financial needs thus claiming ownership of their development processes and addressing their genuine priorities. It is informative in terms of actual and theoretical examples of beneficial macroeconomic state interventions, particularly in the African context and when it comes to development financing. How: The report can be used as background material for macroeconomics classes and may spark research ideas in the area of domestic resources mobilization. Who: Faculty engaged in teaching macroeconomics or in research on domestic resource mobilization.

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        Economic Report on Africa 2007: Accelerating Africa's Development Through Diversification (English)
        Report by UNECA, 2007, 184 pages
        Categories: Globalization and Development Strategies

        What: The Economic Report on Africa (ERA) is the flagship publication of the UN Economic Commission for Africa (UNECA) based in Addis Ababa, Ethiopia. The 2007 edition was the first in the series that was published in collaboration with the African Union. In the first part, the ERA always highlights recent economic and social developments in Africa, including global trends that have a major influence on the continent. The second part always focuses on a particular theme, this time "diversification". The report finds that the diversification process in Africa is highly influenced by investment, per capita income, and the degree of openness of trade, macroeconomic policy stance and the institutional framework. Based on these findings the report recommends several strategies to promote diversification in African economies. How: Background reading on Africa's recent performance and on diversification as a development strategy. Who: Policy makers, researchers and lecturers dealing with African economic development.

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        Economic Report on Africa 2007: Overview (English)
        Summary by UNECA, 2007, 12 pages
        Categories: Globalization and Development Strategies

        What: The Economic Report on Africa (ERA) is the flagship publication of the UN Economic Commission for Africa (UNECA) based in Addis Ababa, Ethiopia. The 2007 edition was the first in the series that was published in collaboration with the African Union. In the first part, the ERA always highlights recent economic and social developments in Africa, including global trends that have a major influence on the continent. The second part always focuses on a particular theme, this time "diversification". The report finds that the diversification process in Africa is highly influenced by investment, per capita income, and the degree of openness of trade, macroeconomic policy stance and the institutional framework. Based on these findings the report recommends several strategies to promote diversification in African economies. How: Background reading on Africa's recent performance and on diversification as a development strategy. Who: Policy makers, researchers and lecturers dealing with African economic development.

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        Financial Services and Trade Agreements in Latin America and the Caribbean: An Overview (English)
        Working paper by Goncalves, Marilyne Pereira; Stephanou, Constantinos /World Bank, 2007, 50 pages
        Categories: Regional and Bilateral Trade Agreements

        The authors review the international framework governing trade in financial services, describe the treatment of financial services in recent trade agreements involving Latin America and Caribbean countries, and analyze the liberalization commitments made in three selected country case studies-Chile, Colombia, and Costa Rica. They give emphasis to free trade agreements because of the generally deeper level of liberalization and rule-making achieved to-date. The authors discuss some of the causes and potential implications of their findings.

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        Financing Innovative Development - Comparative Review of the Experiences of UNECE Countries in Early-Stage Financing (English)
        Article by UNECE, 2007, 118 pages
        Categories: Enterprise Development, Finance for Development

        The Comparative Review focuses on the provision of early-stage equity financing to innovative technology-based enterprises with a view to identifying policy options and recommendations to facilitate the access of these enterprises to early finance. The UNECE region includes countries at very different levels of their innovative capability, which is reflected in the various degrees of maturity of the venture capital industry and the scope of the policy initiatives adopted in this area. This Comparative Review makes a contribution to transnational learning, that is to say, the transfer of good experiences and best practices across the whole UNECE region. In particular, in accordance with CECI mandate, it aims to facilitate the ongoing policy efforts on financing innovative enterprises in the catch-up economies of the region by promoting a better understanding of the international experiences.

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        Food Safety and Environmental Requirements in Export Markets - Friend or Foe for Producers of Fruit and Vegetables in Asian Developing Countries? (English)
        Book by UNCTAD, 2007, 134 pages
        Categories: Commodities, Trade and Environment

        This book draws on recent UNCTAD research to analyse the new breed of food safety and environmental requirements for horticultural exports in key markets. It assesses their impact on producers in six developing countries in Asia (Bangladesh, Cambodia, China, Philippines, Thailand and Viet Nam) and outlines some pro-active adjustment strategies that could help maximize the benefits resulting from the new requirements while also minimizing the adjustment costs. The country-case studies in the book explore questions, such as: To what extent can small farmers profit from enhanced export opportunities, and how can their exports contribute to pro-poor development strategies? What should developing-country Governments do to support smallholder participation in global horticultural trade, and how can the donor community play a supportive role? The book also addresses the relationship between regulatory and voluntary requirements in key horticultural markets, including the "transnationalization" of voluntary standards.

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        Handbook of Statistics 2006-07 (English)
        Manual by UNCTAD, 2007, 514 pages
        Categories: Trade Policy Analysis and Trade Data Sources

        What: The Handbook of Statistics 2006-07 provides a comprehensive collection of statistical data relevant to the analysis of international trade, investment and development, for individual countries and for economic and trade groupings. The publication presents consolidated reference statistics considered of particular importance for describing how developing countries and economies in transition have evolved in the context of globalization. Data are presented in an analytical way in order to facilitate their interpretation. How: The printed edition of the Handbook is a valuable tool for research, policy making and education, which can also be used in conjunction with the DVD or the Internet version of the publication. The latter two contain the full time series of data. Who: Researchers and faculty in the areas of international trade, investment and development.

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        Handbook on Establishing Effective Labour Migration Policies - Mediterranean Edition (English)
        Manual by OSCE, ILO, IOM, 2007, 278 pages
        Categories: Migration and Development

        This Handbook aims to assist states in their efforts to develop new policy approaches, solutions and practical measures for better management of labour migration in countries of origin and of destination. It analyses effective policies and practices and draws on examples from the OSCE participating States, the southern Mediterranean countries as well as other countries that have considerable experience in this field containing specific models, practical guidelines and examples.

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        IIA Monitor No. 1/2007: Intellectual Property Provisions in International Investment Arrangements (English)
        Note by UNCTAD, 2007, 8 pages
        Categories: International Economic Law, Investment

        This IIA Monitor takes an initial look at the variety of ways in which intellectual property provisions are treated in bilateral investment treaties and preferential trade and investment agreements. While there are similarities between certain sets of agreements in their provisions relating to IP, there are also differences that have important legal ramifications.

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        IIA Monitor No. 2/2007: Development Implications of International Investment Agreements (English)
        Note by UNCTAD, 2007, 11 pages
        Categories: International Economic Law

        The universe of international investment agreements (IIAs) continues to expand and is becoming increasingly complex. As of the end of 2006, more than 2,500 bilateral investment treaties (BITs), 2,600 double taxation treaties and 240 other agreements with investment provisions – such as free trade agreements – existed. This impressive IIA network has several characteristics which present opportunities and challenges for countries, in particular developing countries. This issue of the IIA Monitor sheds more light on them from a development perspective.

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        Indisputably Essential- The Economics of Dispute Settlement Institutions in Trade Agreements (English)
        Working paper by Keck, Alexander /WTO, Schropp, Simon /University of St. Gallen, HEI Geneva and NCCR Democracy, 2007, 29 pages
        Categories: International Economic Law, WTO Issues/Multilateral Trading System

        This paper is a step towards the formulation of a coherent economic theory of dispute settlement. It challenges traditional models of enforcement (primarily concerned with acts of punishment) for being insufficient in explaining the existence of dispute settlement institutions. The authors perform a comprehensive analysis of the economics of dispute settlement institutions and demonstrate to what extent the literatures of trade cooperation and dispute institutions are (and should be) interlinked. On the basis of these theories, they show that dispute settlement institutions in trade agreements may assume a variety of roles, including that of an information repository and disseminator, an honest broker, an arbitrator and calculator of damages, an active information gatherer or an adjudicator.

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        Information and Communication Technology Policy and Legal Issues for Central Asia - Guide for ICT Policymakers (English)
        Manual by UNECE, 2007, 67 pages
        Categories: International Economic Law, Science and Technology

        This guide has been prepared at the request of the Project Working Group on ICT for Development, created in December 2005 within the framework of the United Nations Special Programme for the Economies of Central Asia (SPECA). SPECA was launched in 1998 to strengthen subregional cooperation in Central Asia and its integration into the world economy.The member countries of SPECA are Afghanistan, Azerbaijan, Kazakhstan, Kyrgyzstan, Tajikistan, Turkmenistan and Uzbekistan. The guide is intended for use as a reference manual by ICT policymakers in countries with economies in transition. The content is designed to respond to the needs of SPECA member countries, incorporating feedback received during the series of capacity-building events conducted in 2006 and 2007.

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        Interaction Between Trade and Environment Policies with Special Interest Politics (English)
        Working paper by Keswani Mehra, Mehra/JNU, 2007, 31 pages
        Categories: Trade and Environment, VI Members Research

        It is a theoretical paper on the politics of environment and trade policy, useful for analytical research or teaching in an optional course in a graduate program in economics.

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        International Accounting and Reporting Issues: 2006 Review (English)
        Report by UNCTAD, 2007, 207 pages
        Categories: Enterprise Development

        Through the (ISAR), UNCTAD has provided an intellectual home and an open forum for considering issues of corporate transparency — such as financial reporting, corporate governance and corporate responsibility — that have important implications for the economic development of member States. The twenty-third annual session of the Intergovernmental Working Group of Experts on International Standards of Accounting and Reporting (ISAR) was held in Geneva from 10 to 12 October 2006. This session addressed issues central to current challenges in corporate transparency, including the practical implementation of International Financial Reporting Standards (IFRS), the use of corporate responsibility reporting in annual reports, and the promotion of good practices in corporate governance disclosure. The globalization of the investment community is putting new demands on comparable financial reporting. While the year 2005 saw an unprecedented number of enterprises and countries around the world adopt IFRS as their basis for financial reporting, 2006 witnessed the ongoing practical implementation of these new standards. This presents a number of challenges, including the need to be sensitive to the circumstances of small and medium-sized enterprises (SMEs), while fostering a consistent implementation of the standards. Meanwhile, the same social and economic forces that are shaping global trade and development are also driving changes in the type of information various stakeholders want from companies. Enterprises have begun to recognize the value that environmental, social and governance reporting has in building investor confidence and stakeholder support. Over the longer run, experts agree that the current practice of financial reporting will need to be complemented by more non-financial information, including both corporate responsibility reporting and corporate governance disclosure. Building an appropriate institutional framework and implementing robust corporate reporting requirements are essential to the broader process of economic development. These issues are at the centre of ISAR’s work. It is my hope that policymakers, regulators, members of boards of directors, corporate executives, academics and other readers interested in advancing corporate transparency issues will find this publication to be a timely and useful resource.

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        Las Cascaras Del Banano (English)
        Article by Gustavo Guzman, 2007
        Categories: Commodities, Regional and Bilateral Trade Agreements, VI Members Research

        Análisis de la controversia por el tratamiento a las importaciones de banano en la Union Europea y su impacto social.

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        Las Propuestas De Quito (English)
        Article by Gustavo Guzman, 2007
        Categories: Regional and Bilateral Trade Agreements

        Análisis sobre las posibilidades de integración de Suramérica, a partir de los acuerdos de integración de la región. UNASUR.

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        LATN Brief April 2007: Economies of China, Colombia and Peru - Impact on Growth and Income (English)
        Policy brief by Ferrari, César, 2007, 4 pages
        Categories: Emerging Economies and South South Cooperation, Trade and Poverty, Trade Policy Analysis and Trade Data Sources

        China has managed to reduce poverty levels considerably over the past decades, albeit at the cost of increasing inequality. Many Latin American countries in contrast have lived through a period of stagnation and have not been able to reduce poverty and inequality levels. The last brief published by the Latin American Trade Network (LATN) summarizes the results of a study on the factors underlying the different growth, poverty reduction, trade, and investment experiences of China, Colombia and Peru. In addition, the study sets up a dynamic Computable General Equilibrium model to examine the consequences of enhanced trade and investment relationships between Colombia and China. The findings of the study suggest positive effects on the Colombian growth rate and wages, but negative impacts on the levels of employment and inequality. The brief is available in Spanish.

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        The Least Developed Countries Report 2007: Knowledge, Technological Learning and Innovation for Development (English)
        Report by UNCTAD, 2007, 221 pages
        Categories: Science and Technology

        What: The LDC report 2007 looks at the role of technology, knowledge and innovation for creating employment and stimulating economic growth in Least Developed Countries. The report begins by examining the potential of various international market linkages, e.g. trade, FDI, etc., to build technological capacities, finding that transfer of foreign technology to LDCs has been very limited, despite the generally high levels of trade and FDI integration. The report goes on to analyse How national policies could promote technological learning and innovation, and concludes that science and technology policies and targets are insufficiently integrated in national development strategies and Poverty Reduction Strategy Papers (PRSPs). The report recommends that economic aid should be targeted more specifically at the knowledge capacities of developing countries and emphasizes the use of more appropriate Intellectual Property regimes to stimulate innovation. Migration of persons possessing specific skills and knowledge represents another means of international knowledge and technology transfer that affects the knowledge accumulation in developing countries. The report highlights several policies that could reverse the 'brain drain' trend and allow developing countries to take advantage of a 'brain gain'. Such policy recommendations include mechanisms to facilitate temporary rather than permanent migration; the retention of skilled persons; and assistance to promote return migration. How: Useful for any course dealing with the issue of innovation and knowledge for low-income countries. Who: Researchers and lecturers dealing with LDC issues or technology, knowledge and innovation in a low-income country context.

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        The Least Developed Countries Report 2007: Overview (English)
        Summary by UNCTAD, 2007, 35 pages
        Categories: Science and Technology

        What: The LDC report 2007 looks at the role of technology, knowledge and innovation for creating employment and stimulating economic growth in Least Developed Countries. The report begins by examining the potential of various international market linkages, e.g. trade, FDI, etc., to build technological capacities, finding that transfer of foreign technology to LDCs has been very limited, despite the generally high levels of trade and FDI integration. The report goes on to analyse How national policies could promote technological learning and innovation, and concludes that science and technology policies and targets are insufficiently integrated in national development strategies and Poverty Reduction Strategy Papers (PRSPs). The report recommends that economic aid should be targeted more specifically at the knowledge capacities of developing countries and emphasizes the use of more appropriate Intellectual Property regimes to stimulate innovation. Migration of persons possessing specific skills and knowledge represents another means of international knowledge and technology transfer that affects the knowledge accumulation in developing countries. The report highlights several policies that could reverse the 'brain drain' trend and allow developing countries to take advantage of a 'brain gain'. Such policy recommendations include mechanisms to facilitate temporary rather than permanent migration; the retention of skilled persons; and assistance to promote return migration. How: Useful for any course dealing with the issue of innovation and knowledge for low-income countries. Who: Researchers and lecturers dealing with LDC issues or technology, knowledge and innovation in a low-income country context.

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        Making Globalization Work for the Least Developed Countries (English)
        Report by United Nations Ministerial Conference, 2007, 172 pages
        Categories: Globalization and Development Strategies

        The United Nations Ministerial Conference of the Least Developed Countries sought to discuss ways of harnessing globalization’s potential for development, to draw attention to LDCs in the global economy and to promote South-South cooperation between LDCs and other developing countries as well as between the LDCs themselves. This paper analyses how LDCs are affected by the current process of globalization, and considers what policies LDCs and the international community can implement to increase the share of benefits they receive in this process, while minimizing the costs and risks they bear.

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        Migration, Remittances, Poverty, and Human Capital: Conceptual and Empirical Challenges (English)
        Working paper by McKenzie, David; Sasin, Marcin / Worldbank, 2007, 16 pages
        Categories: Migration and Development, Trade and Poverty

        This paper reviews common challenges faced by researchers interested in measuring the impact of migration and remittances on income poverty, inequality and human capital (or, in general, welfare) as well as difficulties confronting development practitioners in converting this research into policy advice. On the analytical side, the paper discusses the proper formulation of a research question, the choice of the analytical tools as well as the interpretation of the results, in the presence of pervasive endogeneity in all decisions surrounding migration. Particular attention is given to the use of instrumental variables in migration research. On the policy side, the paper argues that the private nature of migration and remittances implies a need to carefully spell out the rationale for interventions. It also notices the lack of good migration data and proper evaluations of migration-related government policies. The paper focuses mainly on microeconomic evidence about international migration, but much of the discussion extends to other settings as well.

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        Muere La Union Aduanera Andina (English)
        Article by Gustavo Guzman, 2007
        Categories: Regional and Bilateral Trade Agreements

        Opinión sobre los efectos de la Decision 669 de la Comision de la Comunidad Andina en el proceso de integración comunitario.

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        My Experience in Teaching English content course in Finances (English)
        Article by Restrepo,Jorge/universidad de La Sabana, 2007
        Categories: Trade Related Capacity Building

        This paper presents a brief description of English Content Based Instruction (CBI) as a process in which the student gains mastery of the language (procedural knowledge) and mastery of the subject learned ( declarative knowledge) along with the characteristics of the integration of the teaching process. Also, the author describes his experiences in planning and teaching a course in Financial Analysis using the techniques of CBI and student-centered learning in addition to the tools and procedures used in performing this task. Furthermore the experiences of other universities in giving CBI courses are analyzed in light of this experience. The result of a survey about the perception of the course among a representative sample of the students is presented and discussed. Finally the paper presents an analysis of a survey which suggests the importance of the CBI approach in teaching finance in English.

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        Possible Approaches for the Accession of Iran to WTO (English)
        Book by Fakheri, Mehdi/SIR, 2007
        Categories: VI Members Research, WTO Issues/Multilateral Trading System

        The book has been writen for policy makers involved in the process of the Iranian accession and can be useful for other developing countries

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        Principio De Acumulacion De Origen En Acuerdos De Integración (English)
        Discussion paper by Gustavo Guzman, 2007
        Categories: Regional and Bilateral Trade Agreements

        Análisis detallado del principio de acumulación de reglas de origen en América Latina y propuestas para su homologación en la región

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        Regional Arrangements To Support Growth And Macro-policy Coordination In Mercosur (English)
        Discussion paper by Fanelli, José María /UNCTAD, 2007, 42 pages
        Categories: Emerging Economies and South South Cooperation, Macroeconomic Policy, Regional and Bilateral Trade Agreements

        The main goal of the paper is to discuss the problem of macroeconomic policy coordination in MERCOSUR and how it could contribute to sustaining growth. In the first part, the paper reviews the macroeconomic situation of MERCOSUR, emphasizing the role of the developments that followed the regime change in Brazil in 1999 and in other member countries afterwards. The second part analyses the characteristics of macroeconomic fluctuations in the region. The last section addresses what member countries can do to support growth, macro-policy coordination, and financial integration.

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        Regional Integration, Growth and Concentration (English)
        Working paper by Dirk Willem Te Velde/ODI, 2007, 61 pages
        Categories: Regional and Bilateral Trade Agreements, Trade Policy Analysis and Trade Data Sources

        This study aims to examine the circumstances under which different types of regional integration leads to convergence and growth, and how such integration could best be fostered. It will cover regions across the world, but the empirics will focus on developing country regions and Africa in particular.

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        Regional Integration in South Asia: What Role for Trade Facilitation? (English)
        Working paper by Wilson, John S.; Otsuki, Tsunehiro /World Bank, 2007, 37 pages
        Categories: Regional and Bilateral Trade Agreements, Trade Facilitation

        The trade performance of countries in South Asia over the past two decades has been poor relative to other regions. Exports from South Asia have doubled over the past 20 years to approximately USD 100 billion. In contrast, East Asia's exports grew ten times over the same period. The low level of intraregional trade has contributed to weak export performance in South Asia. The empirical analysis in this paper demonstrates gains to trade in the region from reform and capacity building in trade facilitation at the regional level. When considering intraregional trade, if countries in South Asia raise capacity halfway to East Asia's average, trade is estimated to rise by USD 2.6 billion. This is approximately 60 percent of the total intraregional trade in South Asia. Countries in the region also have a stake in the success of efforts to promote capacity building outside its borders. If South Asia and the rest of the world were to raise their levels of trade facilitation halfway to the East Asian average, the gains to the region would be estimated at USD 36 billion. Out of those gains, about 87 percent of the total would be generated from South Asia's own efforts (leaving the rest of the world unchanged). In summary, we find that the South Asian region's expansion of trade can be substantially advanced with programs of concrete action to address barriers to trade facilitation to advance regional goals.

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        Regulatory Cooperation, Aid for Trade and the General Agreement on Trade in Services (English)
        Working paper by Hoekman, Bernard; Mattoo, Aaditya /World Bank, 2007, 28 pages
        Categories: WTO Issues/Multilateral Trading System

        This paper discusses what could be done to expand services trade and investment through a multilateral agreement in the World Trade Organization. A distinction is made between market access liberalization and the regulatory preconditions for benefiting from market opening. The authors argue that prospects for multilateral services liberalization would be enhanced by making national treatment the objective of World Trade Organization services negotiations, thereby clarifying the scope of World Trade Organization commitments for regulators. Moreover, liberalization by smaller and poorer members of the World Trade Organization would be facilitated by complementary actions to strengthen regulatory capacity. If pursued as part of the operationalization of the World Trade Organization's 2006 Aid for Trade taskforce report, the World Trade Organization could become more relevant in promoting not just services liberalization but, more importantly, domestic reforms of services policies.

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        Rethinking Industrial Policy (English)
        Discussion paper by Ul Haque, Ifran, 2007, 20 pages
        Categories: Competitiveness

        What: The context for the design of industrial policy has profoundly changed as a result of new rules governing international trade, the rise of global value chains and marketing networks, and other aspects of globalization. Traditionally, the case for industrial policy has been framed in terms of “market failures” but the paper argues that that is not a sufficient basis. After addressing the traditional points of criticism, an attempt is made to outline the “domains” of industrial policy in the current circumstances, especially for industrially lagging countries. As country contexts differ widely there are no satisfactory blueprints for policy making that countries can readily adopt. As in production decisions, considerable ingenuity and innovation is needed in designing policies. This is all the more necessary as the WTO rules have become increasingly stringent and the rise of international trading networks has created new barriers for young firms to enter the world market. These developments have changed the context but not the importance of policy in industrial development. The paper identifies areas where government intervention is needed and can still make a positive difference. How: Background reading to get a quick introduction in industrial policies for developing countries. Who: Researchers interested in getting to know the field of industrial policies.

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        Review of Maritime Transport 2007 (English)
        Report by UNCTAD, 2007, 167 pages
        Categories: Trade Facilitation

        The latest edition of this publication provides statistical information on international trade and transport, particularly maritime transport and related services. In addition to information on the world fleet, ports, trade and freight markets, this year's review also contains special chapters on legal and regulatory developments, and on Asia . The review should be of interest to researchers and lecturers dealing with economic or legal issues of maritime transport, not only due to the large amount of data provided, but also for its analysis of regulatory developments and other relevant developments in the field of transport and supply chain security.

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        The Role of Primary Commodities in Economic Development: Sub-Saharan Africa Versus the Rest of the World (English)
        Discussion paper by Carmignani, Fabrizio and Chowdhury, Abdur/ UNECE, 2007, 20 pages
        Categories: Commodities, Globalization and Development Strategies

        This paper analyses the impact of the dependence on primary commodities for economic development within the framework of growth regressions. While there is no evidence of a generalized primary commodity curse, reliance on primary commodities does retard growth in Sub-Saharan Africa (SSA). Which factor account for this SSA specificity? Some suggest that SSA specializes in commodities that are not conducive to economic growth and that SSA depends on primaty commodities more deeply than the rest of the world. These explanations are not strongly supported by the data. The key to the SSA specific curse appears to lie in the interaction between institutions and primary commodities.

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        Rules of Origin and the Web of East Asian Free Trade Agreements (English)
        Working paper by Manchin, Miriam; Pelkmans-Balaoing, Annette O. /World Bank, 2007, 29 pages
        Categories: Regional and Bilateral Trade Agreements, Trade Policy Analysis and Trade Data Sources

        The authors provide an overview of the preferential rules of origin in East Asia, highlighting the aspects that might possibly generate some trade-chilling effects. They review characteristics of existing preferential trade agreements with special emphasis on lessons from the European experience, and analyze some important features of the existing rules of origin in East and South-East Asian regional integration agreements. The empirical analysis of the effectiveness of preferentialism on intra-regional trade flows focuses on the ASEAN Free Trade Area (AFTA), with the aim of providing a rough estimate of the costs of requesting preferences. The results suggest that preferential tariffs favorably affect intra-regional imports only at very high margins (around 25 percentage points). This points to the likelihood of high administrative costs attached to the exploitation of preferences, particularly with regard to the compliance with AFTA's rules of origin.

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        Rules of Origin in Services: A Case Study of Five ASEAN Countries (English)
        Working paper by Fink, Carsten; Nikomborirak, Deunden /World Bank, 2007, 26 pages
        Categories: Regional and Bilateral Trade Agreements

        An important question in the design of bilateral and regional free trade agreements (FTAs) covering services is to what extent non-members benefit from the trade preferences that are negotiated among members. This question is resolved through services rules of origin. The restrictiveness of rules of origin determines the degree of preferences entailed in market opening commitments, shaping the bargaining incentives of FTAs and their eventual economic effects. Even though the number of FTAs in services has increased rapidly in recent years, hardly any research is available that can guide policymakers on the economic implications of different rules of origin. After outlining the key economic tradeoffs and options for rules of origin in services, the paper summarizes the main findings of a research project that has assessed the rules of origin question for five countries in the ASEAN region. For selected service sub sectors and a number of criteria for rules or origin, simulation exercises evaluated which service providers would or would not be eligible for preferences negotiated under a FTA. Among other findings, the simulation results point to the binding nature of a domestic ownership or control requirement and, for the specific case of financial services, a requirement of incorporation.

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        Russian WTO Accession: What Has Been Accomplished, What Can Be Expected (English)
        Working paper by Tarr, David /World Bank, 2007, 20 pages
        Categories: WTO Issues/Multilateral Trading System

        This paper summarizes the principal reform commitments that Russia has undertaken as part of its World Trade Organization (WTO) accession negotiations, providing detailed assessments in banking, insurance, and agriculture. The paper assesses the gains to the Russian economy from these commitments, based on a summary of several modeling efforts undertaken by the author and his colleagues. The author compares Russian commitments with those of other countries that have recently acceded to the WTO to assess the claim that the demands on Russia are excessive due to political considerations. He explains why Russian WTO accession will result in the elimination of the Jackson-Vanik Amendment against Russia. Finally, he discusses the remaining issues in the negotiations and the time frame for Russian accession as of the fall of 2007.

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        Technology Transfer Issues in Environmental Goods and Services: An Illustrative Analysis of Sectors Relevant to Air-pollution and Renewable Energy (English)
        Report by Lynn Mytelka, 2007, 49 pages
        Categories: Science and Technology, Trade and Environment

        Environmental goods and services (EGS) as a subset of goods and services was singled out for attention in the negotiating mandate adopted at the Fourth Ministerial Conference of the World Trade Organization (WTO) in November 2001. This paper argues that much can be done within EGS and other areas of WTO negotiations, illustrating through various examples and case studies, the impediments countries face in obtaining meaningful access to environmentally sound technologies (ESTs). It goes on to question whether it is feasible to expect the Doha WTO negotiating process to deliver more on the technology transfer front than has so far been achieved. The paper concludes that there are still other aspects of the mandate and the process of negotiating trade that could be rethought from a broader technology transfer and sustainable development perspective. These involve recognizing the “public goods” element inherent in many ESTs and to open up opportunities for learning and capacity building and enhanced response capabilities in developing countries through flexibility, special and differential treatment and technical assistance. The paper calls for the identification of areas where such opportunities could be pursued, not only in EGS negotiations, but also in other areas of discussions such as subsidies, agriculture and Trade-Related Aspects of Intellectual Property Rights. The paper is part of a series of issue papers commissioned in the context of ICTSD’s Environmental Goods and Services Project.

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        Towards Coherent Policy Frameworks: Understanding Trade and Investment Linkages (English)
        Book by UNESCAP, 2007, 231 pages
        Categories: Investment, Regional and Bilateral Trade Agreements, Trade Policy Analysis and Trade Data Sources

        The publication brings together a number of papers that highlight the increasing significance of trade and investment linkages and their effect on the development of domestic industries and services. The first two chapters focus on investment provisions and regulation through trade agreements, while the third chapter concentrates on the issue of rules of origin in those agreements and the need for more coherent and harmonized approaches to the design of those rules. The fourth chapter explores in some detail the interactions between foreign direct investment flows and import and export flows using a gravity model approach. Chapters V and VI are country case studies that examine the linkages between trade and investment liberalization and the development of small- and medium-sized enterprises in Indonesia, and education services in Malaysia, respectively. The last Chapter examines the drivers of outward foreign direct investment from the developing economies in the region.

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        Trade and Development Report 2007 - Regional Cooperation for Development (English)
        Report by UNCTAD, 2007, 240 pages
        Categories: Emerging Economies and South South Cooperation, Regional and Bilateral Trade Agreements, Trade Policy Analysis and Trade Data Sources

        What: The first part of the report provides a discussion of global economic trends, which indicate developing countries are likely to continue to benefit from strong demand for primary commodities. In the second part it discusses how regional integration can be useful in reducing the effects of volatile capital flows and under- and over-evaluations on growth and investment. The report analyzes regional cooperation in three dimensions, i.e. trade flows, financial flows and monetary integration, and other aspects (energy, trade logistics, and industrial policy). The report concludes that regional integration can help to strengthen national policies. How: The report provides up-to-date information on trends in the world economy as well as in-depth analysis on the above mentioned dimensions of regional integration. It might thus be used to validate teaching resources in trade-related courses and spark ideas about relevant research. Who: Lecturers and researchers as well as policy-makers interested in trade issues. Overviews available in other UN official languages.

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        Trade Facilitation Beyond the Multilateral Trade Negotiations: Regional Practices, Customs Valuation and Other Emerging Issues (English)
        Working paper by Asia-Pacific Research and Training Network on Trade (ARTNeT), 2007, 333 pages
        Categories: Regional and Bilateral Trade Agreements, Trade Facilitation, WTO Issues/Multilateral Trading System

        The series of studies provides an overview of trade facilitation in the Asia-Pacific region, both in relation to WTO negotiations and regional and bilateral trade initiatives and agreements. Of particular interest is the information about how trade facilitation is being handled by different regional trade initiatives. Other studies look in greater detail at some broader aspects of concern to exporters and importers, such as rules of origin and customs valuation (a comparative analysis of customs valuation in India, Nepal and Fiji). The collection also contains two studies which focus more broadly on trade logistics - one examining the relationship between liberalization in the logistics sector in Australia and trade facilitation, and the other estimating the effects of trade transaction costs, including transport costs and underdeveloped infrastructure, on bilateral trade flows of 10 Asian developing countries. The value of different studies included in the collection is among others in the empirical data and information about the region that they present. Finally, the concluding chapter provides policy recommendations with regard to a meaningful multilateral agreement on trade facilitation.

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        Trade Profiles 2007 (English)
        Data by WTO, 2007, 197 pages
        Categories: Trade Policy Analysis and Trade Data Sources

        These Trade Profiles combine information on trade flows and trade policy measures of Members, Observers and other selected economies. The information is presented in standardized format for quick reference. The indicators are divided into five categories: I. Basic economic indicators II. Trade policy indicators III. Merchandise trade indicators (customs-based statistics) IV. Commercial services indicators (balance of payments based statistics) V. Industrial property indicators

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        Trade Remedy Provisions in Regional Trade Agreements (English)
        Working paper by Teh, Robert /WTO; Prusa, Thomas J./ Rutgers University, USA, 2007, 83 pages
        Categories: Regional and Bilateral Trade Agreements, WTO Issues/Multilateral Trading System

        This paper maps and examines the provisions on anti-dumping, countervailing duties and safeguards in seventy-four regional trade agreements (RTAs). The RTAs vary in size, degree of integration, geographic region and the level of economic development of their members.

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        Training Module for Multilateral Trade Negotiations on Agriculture (English)
        Manual by Peters, Ralf/ UNCTAD, 2007, 116 pages
        Categories: Commodities, WTO Issues/Multilateral Trading System

        This module provides an overview of the current Agreement on Agriculture that was the outcome of the Uruguay Round negotiations, implementation of commitments and ongoing negotiations. All three so-called pillars of agriculture, namely market access, domestic support and export competition, are discussed with an emphasis on the importance and impact of potential policy changes on development. Also covered are cross-cutting issues, such as special and differential treatment for developing and least developed countries and the cotton initiative.

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        Transparency, Trade Costs, and Regional Integration in the Asia Pacific (English)
        Working paper by Helble, Matthias; Shepherd, Ben; Wilson, John S. /World Bank, 2007, 39 pages
        Categories: Regional and Bilateral Trade Agreements, Trade Facilitation, Trade Policy Analysis and Trade Data Sources

        The authors show in this paper that increasing the transparency of the trading environment can be an important complement to traditional liberalization of tariff and non-tariff barriers. Our definition of transparency is grounded in a transaction cost analysis. The authors focus on two dimensions of transparency: predictability (reducing the cost of uncertainty) and simplification (reducing information costs). Using the Asia Pacific Economic Cooperation (APEC) member economies as a case study, the authors construct indices of importer and exporter transparency for the region from a wide range of sources. Our results from a gravity model suggest that improving trade-related transparency in APEC could hold significant benefits by raising intra-APEC trade by proximately USD 148 billion or 7.5 pecent of baseline trade in the region.

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        UNCTAD BioTrade Initiative: BioTrade Principles and Criteria (English)
        Book by UNCTAD, 2007, 20 pages
        Categories: Trade and Environment

        The BioTrade Principles and Criteria have been defined by the UNCTAD BioTrade Initiative and the BioTrade national programmes, and provide the core of the conceptual framework underlying the BioTrade Initiative´s activities. They are in line with the objectives and principles of the Convention on Biological Diversity, the Commission on Sustainable Development and the Millennium Development Goals; they take into account the relevance of trade for specific species and ecosystems, supporting the Convention on International Trade in Endangered Species of Wild Fauna and Flora, the United Nations Convention to Combat Desertification and the Ramsar Convention on Wetlands. The Principles and Criteria can be applied in different contexts, driving BioTrade processes to promote the conservation of biodiversity through sustainable commercial use. This publication sets out the criteria that BioTrade actors, wanting to use practices that are economically, socially and environmentally sustainable, should aspire

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        UNCTAD Investment Brief, No. 1, 2007: Foreign Direct Investment Surged Again in 2006 (English)
        Policy brief by UNCTAD, 2007, 2 pages
        Categories: Investment, Policy Reviews and Briefs

        Global flows of foreign direct investment (FDI) reached their second highest level ever in 2006, reaching $1.2 trillion. According to new UNCTAD estimates, significant growth was recorded in FDI inflows to developed, developing as well as transition economies. The United States attracted the largest capital inflows, followed by the United Kingdom and France. Record levels were in Africa, Asia and in South-East Europe and the CIS.

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        UNCTAD Investment Brief, No. 2, 2007: Rising FDI into China: The facts behind the numbers (English)
        Policy brief by UNCTAD, 2007, 2 pages
        Categories: Investment, Policy Reviews and Briefs

        Over the past decade, China has established itself as the top recipient of foreign direct investment (FDI) among developing countries. In 2005, inflows reached the new record high of $72 billion - corresponding to a 20% rise from 2004. In this Investment Brief, we take a closer look at the Chinese data. There are several factors explaining the FDI increase but there are also reasons to interpret the overall numbers with care.

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        UNCTAD Policy Brief No.1/2007: Coping with Financial Market Crisis (English)
        Policy brief by UNCTAD, 2007, 2 pages
        Categories: International Financial System, Policy Reviews and Briefs

        Turmoil on the financial markets is back. Despite the fact that some policy measures were effective in stabilizing the interbank market, several observers have criticized the actions of the US Federal Reserve and of the European Central Bank. Although at first glance these criticisms may seem warranted, their fundamental thrust appears to be flawed. This policy brief raises some issues to discuss how to cope with financial market crisis.

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        World Economic Situation and Prospects 2007 (English)
        Report by UN-DESA, 2007, 177 pages
        Categories: Macroeconomic Policy

        What: This report is a joint product of the Department of Economic and Social Affairs (DESA), UNCTAD and the five United Nations regional commissions. It provides an overview of recent global economic performance and short-term prospects for the world economy and of some key global economic policy and development issues. For 2007, modest inflation, insufficient employment growth and a deceleration in the world economy are expected, although developing countries and transition economies will continue to robust growth. A downturn in the U.S. housing market, increasing oil prices and a lack of coordination in macroeconomic policies are cited as some of the challenges countries will have to contend with this year. As an annex the report contains tables with macroeconomic indicators for the past ten years. How: Useful background document on recent trends in the world economy. Who: Lecturers in macroeconomics and international economics.

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        World Investment Prospects Survey 2007-2009 (English)
        Report by UNCTAD, 2007, 82 pages
        Categories: Investment

        In addition to the WIR, the World Investment Prospects Survey 2007-2009 (WIPS) was released October 4. The most recent in a series begun in 1995, the survey aims to provide an outlook on future trends in FDI based on responses from the largest TNCs in the world.

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        World Investment Report 2007: Transnational Corporations, Extractive Industries and Development (English)
        Report by UNCTAD, 2007, 323 pages
        Categories: Commodities, Investment

        This year's World Investment Report (WIR) from UNCTAD focuses on the role of transnational corporations (TNCs) in the extraction of oil, gas and minerals. It emphasises the need for coherent and well-designed host country policies that involve all stakeholders in order to maximize development gains from such industries. As in previous years, the WIR07 presents the latest data on Foreign Direct Investment (FDI), and traces global and regional trends in FDI and in international production by TNCs. The main finding is that the growth of FDI has been the largest in 2006 since 2000, and occurred in all three groups of economies: developed countries, developing countries, and the transition economies. Despite the general positive prospects for global FDI, it is predicted that the world economy will face several challenges and risks, which may have implications for FDI flows in 2007 and 2008. These include global current account imbalances causing exchange rate shifts, volatile oil prices, and a potential tightening of financial market conditions.

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        World Investment Report 2007: Transnational Corporations, Extractive Industries and Development - Overview
        Summary by UNCTAD, 2007, 49 pages
        Categories: Commodities, Investment

        This year's World Investment Report (WIR) from UNCTAD focuses on the role of transnational corporations (TNCs) in the extraction of oil, gas and minerals. It emphasises the need for coherent and well-designed host country policies that involve all stakeholders in order to maximize development gains from such industries. As in previous years, the WIR07 presents the latest data on Foreign Direct Investment (FDI), and traces global and regional trends in FDI and in international production by TNCs. The main finding is that the growth of FDI has been the largest in 2006 since 2000, and occurred in all three groups of economies: developed countries, developing countries, and the transition economies. Despite the general positive prospects for global FDI, it is predicted that the world economy will face several challenges and risks, which may have implications for FDI flows in 2007 and 2008. These include global current account imbalances causing exchange rate shifts, volatile oil prices, and a potential tightening of financial market conditions.

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        World Trade Report 2007: Six Decades of Multilateral Trade Cooperation: What have we learnt? (English)
        Report by WTO, 2007, 436 pages
        Categories: WTO Issues/Multilateral Trading System

        The Report begins with a brief account of recent trade developments. Turning to its core topic, the Report starts with a summary account of international trade cooperation before the Second World War. It then devotes some space to reviewing what theorists have to say about why governments are motivated to cooperate with one another through an institution like the WTO. The longest section of the Report is an exploration of the history of the multilateral trading system, with particular emphasis on a range of policy issues and challenges that have arisen over the years, and many of which are still with us today. It also focuses on a selection of issues that have arisen over the years and played a dominant role in the evolution of the system. These issues include dispute settlement, developing countries in the trading system, regionalism, decision-making, and the formation of the negotiating agenda.

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        Wto - International Trade Statistics 2007 (English)
        Data by WTO, 2007, 262 pages
        Categories: Trade Policy Analysis and Trade Data Sources

        The WTO International Trade Statistics 2007 provides a comprehensive collection of statistical data on trade in merchandise and commercial services relevant for an assessment of world trade flows by country, region and main product groups or services by category. This year's report provides a more user-friendly presentation of statistical tables, and covers new fields, in particular to satisfy the increasing demand for data on international trade in services. The report, furthermore, provides for the first time information on sales of foreign affiliates relating to trade in services.

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