This book addresses topical questions concerning the legal framework of trade in services, and assesses how these issues are dealt with in GATS and in selected preferential trade agreements. In addition, the chapters discuss whether the differences and similarities (if any) are evidence of greater coherence or greater divergence. The book combines the individual analyses to provide a more comprehensive picture of the current law on services trade liberalisation.A quarter of a century after the conclusion of the General Agreement on Trade and Services (GATS), international law on trade in services is still in a state of flux: on the one hand, countries increasingly conclude bilateral and regional trade agreements with sections on trade in services that aim at a further liberalisation of services trade. On the other, the GATS structure remains the dominant model and serves as the basis for many preferential trade agreements. In addition, new aspects such as electronic commerce, data protection and taxation are now emerging, while issues that had already manifested in the mid-1990s such as financial services regulation, labour mobility, and telecommunications continue to be problematic. Usually, the debates focus on the question of whether preferential trade agreements serve as a stepping-stone or stumbling block for trade liberalisation at the multilateral level. However, it can be assumed that rules on trade in services in preferential trade agreements will coexist with the global GATS regime for the foreseeable future. This raises the question of whether we’re currently witnessing a drive towards greater coherence or more divergence in agreements on trade in services.

The first comprehensive analysis of the applicability of international trade law to digital services at multilateral and regional levels.

This book explores the adaptating process of the General Agreement on Trade in Services (GATS) to a constantly changing trade and policy context. The adoption of the General Agreement on Trade in Services (GATS), a multilateral agreement with stand-alone rules and principles for the governance of trade and investment in services, represented a watershedin the history of global trade governance. Over three decades after the drafting of the Agreement, WTO Members struggle to deliver on the GATS’ mandate to achieve progressively higher levels of trade liberalisation in a radically different trade and policy landscape. Against this background, this book examines the contribution of the WTO negotiating, adjudicative, and deliberative functions to adapting the GATS to changing circumstances. The book uncovers an extremely flexible and adaptable agreement whose full potential has yet to be realised due to a complex set of factors weighing more broadly on the use of the WTO functions. The book distils the factors at play that constrain WTO Members’ capacity to adapt the Agreement to changing circumstances and explores potential pathways to overcome them. The book will be of interest to scholars, policy makers, and trade diplomats interested in understanding the factors and processes conditioning the adaptation of a multilateral trade agreement to changing trade and policy circumstances.

Explores the IMF's mandate over capital flows and analyses whether capital controls are consistent with international trade and investment agreements.

Foreign Direct Investment (FDI) from third countries—a desirable form of investment to boost the EU’s economy or a threat to important EU and Member State interests that must be mitigated via FDI screening mechanisms? FDI screening is a complex, controversial and highly topical subject at the intersection of law, politics and economics. This book analyzes the political rationale behind FDI screening in the EU, reveals the legal limitations of current FDI screening mechanisms based on security and public order, and identifies legislative options for broader screening mechanisms in accordance with EU and international economic law. In particular, the book identifies the four main concerns in the EU regarding FDI from third countries: distortive competition effects; the lack of reciprocity on FDI treatment between the EU and the investor’s home country; objectives of the investor or their home country that may be detrimental to EU interests; and safety of private information. On this basis, the book analyzes the Screening Regulation (Regulation (EU) 2019/452) and its newly introduced screening ground “security or public order” and asks whether this and other similar screening grounds based on the notions of security, public order and public policy can address these concerns with regard to foreign investors. Based on an analysis of WTO law and EU primary law, it argues that they cannot. Thus, the question arises: Do the EU and Member States have the flexibility to adopt broader FDI screening mechanisms? To answer this question, the book examines the freedoms of capital movement and establishment in EU primary law, as well as various sources of international economic law such as, first and foremost, the WTO’s General Agreement on Trade in Services, but also other bi- and plurilateral trade and investment treaties, including the EU-China Comprehensive Agreement on Investment. In closing, the book identifies various legislative options for broader FDI screening mechanisms—and their shortcomings.

This book explores current issues regarding the regulation of various economic sectors, theoretically and empirically, discussing both neoclassical and behavioural economics approaches to regulation. Regulation has become one of the main determinants of modern economies, and virtually every sector is subject to general laws and regulations as well as specific rules and standards. A traditional argument to justify regulatory interventions is the promotion of public interests. Fixing markets that lack competition, balancing information asymmetries, internalising externalities, mitigating systemic risks, and protecting consumers from irrational behaviour are frequently invoked to complement the invisible hand of the market with the visible hand of the state.However, regulations can lead to unintended consequences, and serve the interests of powerful private interest groups rather than the public interest and social welfare. In addition, new insights from behavioural economics question the traditional regulatory approaches, most prominently in attitudes towards consumers. Furthermore, digitalisation and technological innovation in general present new challenges in terms of both the type of regulation and the regulatory process.Part I of this book discusses various theoretical approaches to the economic analysis of regulations, while Part II looks at specific applications of the law and economics of regulation.

This topical book provides fresh insight into the ways culture interconnects with and is treated by EU economic law and policy. Contributing authors pose key questions pertaining to the nature, scope and extent of the competence of the EU and its member states in the field of culture.

Seeking improved health and increased income have long been common goals. Those who make the case that free trade will help everyone argue that the growth from increased trade will be shared and will improve people's lives. But they have not answered the fundamental question of how to formulate trade policy to simultaneously achieve growth and benefit health. Trade and Health answers this question by exploring the entire array of avenues through which trade affects health, and examining a number of case studies on how best to achieve policies that integrate health objectives. The contributors represent the full range of stakeholders in the trade-health debate - medical professionals, civil society representatives, academics from a range of disciplines, and negotiators and policy-makers at the national and global levels. Contributors include Bijit Bora (WTO), Rupa Chanda (IIMB), Diana Chigas (Tufts), Carlos Correa (U of Buenos Aires), Eric Dagenais (Industry Canada), Alison Earle (Harvard), David P. Fidler (Indiana), Anabel González (WTO), Ronald Labonte (Ottawa), Cha-aim Pachnee (MOPH-Thailand), Pedro Roffe (UNCTAD-ICTSD), Nancy Ross (McGill), David Sanders (Western Cape), Ted Schrecker (Ottawa), Anna Shea (McGill), Elisabeth Tuerk (UNCTAD), David Vivas-Eugui (ICTSD), Johanna von Braun (ICTSD), and Suwit Wibulpolprasert (MOPH-Thailand).

The EU legal order sits above a diverse mix of 27 national legal systems, with some 23 different languages. Amongst such diversity, how can the unity and coherence of the European legal system be guaranteed? Is there a common understanding between lawyers from different national backgrounds as to the meaning and application of EU law? In addressing these issues the idea of 'common concepts' has played a crucial role - it is argued that the unity of the system is guaranteed by the consistent application of certain core principles shaping the law. To what extent can these concepts be trusted to provide a firm basis for the coherence of the EU legal order? Believers in common concepts argue that there is a relatively clear, shared and accepted framework of ideas, providing an understanding of the system that is ultimately unified in spite of all apparent divergence. Sceptics hold that there is no such framework; 'common concepts' turn out to be additional sources of misunderstanding, confusion and, subsequently, legal divergence. According to a third thesis, there is indeed no common conceptual core, but the necessary unity and coherence of EU law can be articulated and even reinforced through the use of divergent concepts. The contributors to this collection of essays address these issues from different disciplinary perspectives - legal sociology, linguistics, comparative law, European legal scholarship, legal theory and practical experience. The research group focused on the application of two general themes: the protection of rights and judicial discretion. In addition to the thematic research, case studies from core policy sectors are featured, including energy regulation and social policy.