1 Income inequality in developing countries: fiscal policy's role amid uncertainty

This study investigates the impact of uncertainty on income inequality in developing countries. Unlike prior studies, we analyse the role that the fiscal policy could play in the relationship. Using a sample of 66 developing countries over the period 2000-2020, we find at several levels of robustness that, uncertainty increases income inequality in developing countries, especially those with fiscal deficits and less fiscally disciplined. Additionally, we find that fiscal surpluses mitigate the negative effects of uncertainty on wealth distribution which in turn reduces income inequality. This result reveals the socio-economic stabilizing role that fiscal policy management could play during periods of uncertainty. Fiscal policy can maintain and enhance economic stability when countries face certain uncertainty.

作者:Kebalo, Leleng ; Zouri, Stephane
出版月(日)年:2024 DEC 31
卷(期),頁碼:27 (1) , 233-267
2 Trade agreements and CO2 emissions in Asian countries:accounting for institutional heterogeneity

This paper aims to measure the impact of environmental provisions in free-trade agreements on pollution levels in 40 Asian economies for the period 1990-2019. Following the failure of WTO negotiations, there has been a rapid proliferation of preferential trade agreements incorporating various types of environmental clauses. We exploit such changes to assess their influence on pollution emissions. We use a DOLS approach that considers the potential endogeneity of environmental clauses. Further, panel vector error correction models (VECM) are employed for examining the presence of a cointegration relationship among the variables studied. Overall, our findings indicate that these environmental clauses have heterogenous effects on CO2 emissions. We do not find significant effects of environmental clauses on pollution. However, this result is driven by environmental provisions that are not legally enforceable. We do find a positive effect of environmental clauses with a higher level of legalism on the environmental quality. These results show that the inclusion of environmental provisions in trade agreements is not sufficient by itself. Such provisions should incorporate a legally enforceable framework to effectively address environmental concerns. These findings have significant policy implications for Asian countries.

作者:Ul Hassan, Mehboob ; Rana, Arslan Tariq ; Khan, Muhammad ; Gillani, Samreen
出版月(日)年:2024 FEB
卷(期),頁碼:31 (6) , 9197-9217
3 Democracy, Authoritarianism and Global Economic Governance

Four weeks after Russia's invasion of Ukraine, US Senator John Kennedy accused the Biden administration of indirectly providing over $17 billion to Moscow as Putin was gearing up for war. In August 2021, the International Monetary Fund had indeed approved a historic $650 billion allocation of Special Drawing Rights to help member countries struggling with the Covid crisis. Russia benefited from these money transfers, as did Iran, China, and Myanmar, notwithstanding the authoritarian consolidation of these regimes. Kennedy's op-ed sparked a debate about the lack of transparency in the use of crisis resources and led to the adoption in the United States of the 'Russia and Belarus SDR Exchange Prohibition Act', which bans currency transactions with these countries through the IMF, following the imposition of 2,500 sanctions by the US Treasury since February 2022. The op-ed also reignited a decades-old debate over whether international organisations such as the IMF, World Bank and World Trade Organisation (WTO) should be held accountable for supporting authoritarian and corrupt governments or interfering in the politics of sovereign nations.

作者:Gautier Morin, Johanna
出版月(日)年:2024 JAN 9
4 Constructing plasmonic electron acceptors on TiO2 for full-spectrum-driven photocatalytic hydrogen generation

Doped semiconductors have emerged as promising plasmonic nanomaterials for photocatalysis due to their unique combination of metal-like and semiconductor properties. A key scientific challenge to develop plasmonic semiconductors is to significantly increase the intrinsically low free electron density in semiconductors. Herein, we fabricated W-doped TiO2 nanodots (WTO-NDs) as plasmonic electron acceptors on the surface of TiO2 nanosheets (TO-NSs), creating a novel plasmonic isotype heterostructure of WTO-NDs/TO-NSs for full-spectrum-driven photocatalytic hydrogen generation. Surface W-doping provided an obvious localized surface plasmon resonance in the visible-NIR region to the heterostructure, which also offered more active reaction sites. The photoexcited electrons from TO-NSs can be efficiently transferred to WTO-NDs, resulting in a high electron density on the heterostructure surface and boosting hot electron generation for photocatalysis. The optimized WTO-NDs-1/TO-NS heterostructure exhibited an impressive hydrogen generation of 51.03 mmol g(-1) within 3 h under UV-visible-NIR irradiation, surpassing the performance of individual TO-NSs and WTO-NDs. This work provides a new strategy for constructing plasmonic semiconductors with high surface free electron concentration for full-spectrum photocatalysis.

作者:Lu, Changhai ; Cai, Xiaoyan ; Liu, Xiaolei ; Tian, Dehua ; Li, Baojun ; Li, Juan ; Lou, Zaizhu
出版月(日)年:2024 FEB 1
5 Who leads and who follows? The cross-border peer effect in investment by Chinese and US firms

We document a cross-border peer effect in corporate investment across two key economies, China and the US. Results show that investment by individual Chinese firms lags US peers without feedback in the other direction. This association is stronger for Chinese firms in manufacturing, with innovative US peers, once China joined WTO, or targeted by anti-dumping investigations or measures as reported to the WTO. These findings are robust to diagnostic tests and alternative specifications. Furthermore, Chinese firms respond to domestic competition by learning from US peers. Our findings illustrate how peer competition induced by foreign trade and international institutions affects corporate decision-making in China's rapidly-growing economy.

作者:Bailey, Warren B. ; Cao, Xiaping ; Yang, Zhenyi ; Zhou, Sili
出版月(日)年:2024 JAN
6 Reimagining the Special and Differential Treatment Provisions in the WTO's Dispute Settlement Understanding

The developed and developing members of the World Trade Organization (WTO) are deeply divided on the concept, scope, and beneficiaries of the special and differential treatment (SDT) provisions. The division was revealed in the Committee on Trade and Development meetings, where developed members rejected the Group of 90's proposals to strengthen and operationalize SDT provisions in WTO agreements. This article focuses on the SDT provisions in the Dispute Settlement Understanding (DSU), positing that the provisions are ineffective in upholding the WTO's development objectives. It analyses the extent to which the needs and circumstances of low-income developing countries and least-developed countries have been considered by the WTO adjudicating bodies through the application and interpretation of SDT provisions in the DSU. The article seeks to reimagine SDT provisions' role in the DSU through secondary lawmaking and progressive treaty interpretation to ensure development is integrated into the WTO's Dispute Settlement Mechanism.

作者:ania, Sharmin ; Atkins, Meika ; Cunningham, Robert ; Anawaratna, Ajith
出版月(日)年:2024 JAN
卷(期),頁碼:14 (1) , 123-153
7 A landmark environmental law looks ahead

In late December 1973, the United States enacted what some would come to call "the pitbull of environmental laws." In the 50 years since, the formidable regulatory teeth of the Endangered Species Act (ESA) have been credited with considerable successes, obliging agencies to draw upon the best available science to protect species and habitats. Yet human pressures continue to push the planet toward extinctions on a massive scale. With that prospect looming, and with scientific understanding ever changing, Science invited experts to discuss how the ESA has evolved and what its future might hold. -Brad Wible

作者:Fischman, Robert L. ; Ruhl, J. B. ; Forester, Brenna R. ; Lama, Tanya M. ; Kardos, Marty ; Rojas, Grethel Aguilar ; Robinson, Ni
出版月(日)年:2023 DEC 22
卷(期),頁碼:382 (6677) , 1348-1355
8 The WTO's National Security Exception and Its Implication to the China-EU Dispute: With Special References to Lithuania's Taiwan Representative Office

We consider the role played by trade in differentiated inputs in the country-pair decision to form a PTA in goods and in their decision to expand it to trade in services with varying degrees of coverage, which transforms a preferential agreement into an Economic Integration Area (EIA). Our baseline model is very successful in predicting the formation of preferential agreements. Our model correctly predicts 84 percent of the country pairs with PTAs in our dataset and can successfully predict the 83 percent of the country pairs that do not form a PTA. Moreover, our model predicts 78 percent of the observations involving country pairs belonging to an EIA when a PTA exists.

作者:Ayub, Kiran ; Silva, Peri
出版月(日)年:2024 FEB 5

Tourism is becoming one of the most important sources of the social, economic, political, cultural and personal development in the modern civilization focused on the post-industrial economy. Relying on this fact, the modern person has the opportunity to get new impressions and enter into the communication with the representatives of other communities, which is noted in the WTO program work "The Cultural Heritage and the Tourism Development" (2001). Tourism is the multidimensional phenomenon; it creates conditions for stability and harmony in the society, the intercultural understanding, the progress in the science, the art and education, preservation and restoration of the monuments of the cultural and natural heritage. There are many studies devoted to the various aspects of tourism. One of them is "the culture of tourism", that affects all participants in the tourism activities, and that is not sufficiently reflected in the modern scientific literature using the concept of "the ethics of tourism" as well. At the same time, this concept was applied at the legal level in the Strategy of the Tourism Development in the Russian Federation for the period up to 2035, in the context of the implementation of the state policy to stimulate the demand for the tourism services.

   E. V. Moshnyaga (one of the modern authors) refers the ethics of tourism to the basic concepts reflecting the essence of the various processes: from the rights and obligations of tourists, to the attitude to the cultural and natural heritage in the context of globalization and commercialization. The active development of tourism creates the positive effect for the certain territories in the modern conditions; it also generates the certain threats to the authenticity of the traditional communities and the cultural monuments in the absence of the competent local policy. It requires all participants to comply the certain ethical principles in the tourism process that can minimize these risks. The Charter of Tourism and the Global Code of Ethics of Tourism have defined the ethical norms and rules for conducting the main participants of the tourism industry, that cover almost all aspects of the activity in this area and that are interpreted very broadly. The main provisions of this Code can be considered as the subject area of the tourism culture.

   The interpretation of the culture as the way of life, "the nature of the life structure" (S. Sinetsky), "the environment where we live" (O. Astafieva), takes into account the activity mode of the existence and the development of culture (V. Mezhuyev) and allows to define the culture of tourism on the basis of these ideas as the system of values, principles, norms, ideas, ideals, traditions, etc., implemented in the process of the tourist activity, determining the actions, attitudes and behavior all subjects of this sphere. These values, principles and norms can have the significance in the wide range: from the ethics and law, to the religion and the national character with the potential to reach the universal level. Its structural elements include the culture of the tourist behavior, the culture of the tourism organizers, the culture of the host party and the culture of the organizational and managerial structures.

作者:Gorenkin, Valery A. ; Mikitinets, Alexander Yu ; Mikitinets, Olga, I ; Chugunova, Tatiana N. ; Shvetsova, Antonina, V
出版月(日)年:2023 DEC
卷(期),頁碼:52 , 239-252
10 Impact of trade liberalisation on employment patterns: The experience of India's organised manufacturing

This study investigates the impact of trade liberalisation on employment levels at three different employment patterns in India's organised manufacturing industry. These employment patterns apply to three types of workers who face disadvantages: contract vs. regular, women vs. men, and unskilled vs. skilled. A theoretical and empirical framework linking employment patterns to trade, foreign investment, R&D intensity, and capital intensity has been developed and tested for a sample of Indian organised manufacturing industries using a panel analysis with a fixed effect model. The findings suggest that trade has a negative impact on employment overall. Imports and foreign investment have a statistically significant impact on employment levels. As a result, the government should identify industries that get a large amount of Foreign Direct Investment. International corporations have no detrimental effect on manufacturing employment in India when compared to their domestic competitors, and they pay their employees substantially more.

作者:Jadhav, Kishor ; Arora, Kashika
出版月(日)年:2023 DEC
卷(期),頁碼:15 (4) ,1-12
DOI: 10.1016/j.tncr.2023.08.001