Going Global, Going West! Chinese Direct Investment in Germany. Asia Policy Brief 2014/03, May 2014

Chinese investors are welcome! Germany’s Federal Minister of Economy, Sigmar Gabriel, made this clear at the opening ceremony of the Chinese Chamber of Commerce in Berlin in January 2014. His words were not only meant as an invitation to Chinese companies, but also as a piece of advice for Germany’s business community and broader public. Chinese investors are often perceived to be going on a “global shopping spree” with a “political checkbook”, not only in Germany but everywhere in Europe. Some observers even suggest stricter controls for investors from specific countries, such as China. The German government is right to pursue the principle of a free trade and investment regime, while insisting that China’s government should level the playing field for foreign companies, too.

How Germany Benefits from the Euro in Economic Terms. Policy Brief #2013/01

There can be no doubt about the fact that Germany benefits from the euro in a significant number of ways. For ex-ample, monetary union membership helps to reduce the cost of international trade, and provides protection against excessive exchange rate volatility. This means that even if Germany had to write off a large percentage of the loans that it has made available to the heavily indebted states of southern Europe as part of the various euro rescue measures, the economic advantages of its membership of the monetary union would continue to predominate. Reverting to the deutschmark would thus be disadvantageous even in purely economic terms.

Federal States, Industries and Education Level – Effects of TTIP in Germany. Policy Brief #2013/05

A purely microeconomic perspective shows that all major industries and states would benefit from a transatlantic trade and investment partnership (TTIP). The greatest manufacturing and employment effects would be seen in the electronics industry as well as metal processing. Baden-Württemberg, Bavaria and North Rhine-Westphalia would benefit most from this. Furthermore, it becomes apparent that new jobs would be created for all education groups – even for relatively unskilled workers. Their real income could increase even more than that of highly qualified workers.

Tomorrow’s Silk Road: Assessing an EU-China Free Trade Agreement

This book provides an independent and in-depth contribution on the status of bilateral economic exchanges and persistent trade barriers between the European Union and China. A second objective is to encourage a frank and open dialogue, based on a scientific evaluation and without prejudice, of the possibility of a preferential trade agreement between the two sides. The study, commissioned by the Foreign Trade Association, was carried out by CEPS, in cooperation with the World Trade Institute (WTI) at the University of Bern. Jacques Pelkmans, CEPS Senior Research Fellow, served as overall study leader and Joseph Francois, Managing Director and Professor of Economics at the World Trade Institute, led the WTI team.

The EU-China Bilateral Investment Agreement: Between High Hopes and Real Challenges. Security Policy Brief No. 68, February 2016

In 2012, negotiations over an EU–China bilateral investment agreement were launched to fully tap into the potential of bilateral investments. This policy brief gives an overview of the current negotiation process and argues that the high hopes advanced politically and economically in the agreement must be weighed against the many challenges and obstacles the negotiations face, regarding current events in EU–China relations, in global trade and investment regimes, and the limits of EU competencies. Strategically, the agreement could be important, as it offers the potential to strengthen the EU’s global economic relevance. This brief concludes that there is much to gain if the EU follows a coordinated approach and remains mindful of these (potential) obstacles.

The Effects of Sanctions and Counter-Sanctions on EU-Russian Trade Flows. CEPS Commentary, 5 July 2016

After Russia annexed Crimea in early 2014 and then intervened, manu militari, in the Eastern part of Ukraine, the European Union wanted to show its disapproval and put pressure on Russia to change its behaviour. A wide variety of measures were taken, including the imposition of individual restrictions, such as asset freezes and travel bans, but also the suspension of development loans from the EBRD. But the EU (together with the United States) also took, in July and September 2014, a set of broader measures: limited access to EU primary and secondary capital markets for targeted Russian financial institutions and energy and defence companies; export and import bans on trade in arms; an export ban for dual-use goods and reduction of Russia’s access to sensitive technologies and services linked to oil production.

Reactive, Slow and...Innovative? Decision-making Structures and Policy Outputs

Consensus democracies like Switzerland are generally known to have a low innovation capacity (Lijphart 1999). This is due to the high number of veto points such as perfect bicameralism or the popular referendum. These institutions provide actors opposing a policy with several opportunities to block potential policy change (Immergut 1990; Tsebelis 2002). In order to avoid a failure of a process because opposing actors activate veto points, decision-making processes in Switzerland tend to integrate a large number of actors with different - and often diverging - preferences (Kriesi and Trechsel 2008). Including a variety of actors in a decision-making process and taking into account their preferences implies important trade-offs. Integrating a large number of actors and accommodating their preferences takes time and carries the risk of resulting in lowest common denominator solutions. On the contrary, major innovative reforms usually fail or come only as a result of strong external pressures from either the international environment, economic turmoil or the public (Kriesi 1980: 635f.; Kriesi and Trechsel 2008; Sciarini 1994). Standard decision-making processes are therefore characterized as reactive, slow and capable of only marginal adjustments (Kriesi 1980; Kriesi and Trechsel 2008; Linder 2009; Sciarini 2006). This, in turn, may be at odds with the rapid developments of international politics, the flexibility of the private sector, or the speed of technological development.

Towards a plurilateral Trade in Services Agreement (TISA): Challenges and prospects

This paper addresses a number of policy challenges arising from ongoing attempts to negotiate a plurilateral Trade in Services Agreement (TISA), a recently launched plurilateral negotiating initiative coexisting uneasily alongside the World Trade Organisation’s General Agreement on Trade in Services (GATS), particularly in the context of the ongoing Doha Development Agenda. While the TISA offers scope for imparting much needed forward movement to a policy area of central economy-wide and trade importance, such progress, even if realized within the narrower confines of a preferential trade agreement made possible under the GATS, poses a number of systemic risks to the multilateral order extending beyond services trade.

Addressing climate change under preferential trade agreements: Towards alignment of carbon standards under the Transatlantic Trade and Investment Partnership

With its wide coverage of economic spheres and the variety of trade and investment measures currently under negotiation, the Transatlantic Trade and Investment Partnership opens windows of opportunity for advancing action on climate change. We examine possible avenues and international trade law implications for an alignment of carbon-related standards between the EU and the US. We compare EU and US carbon emissions standards for cars and argue that negotiators should strive for a mutual recognition of their equivalence for a transitional period, while pursuing the goal of full harmonization at the level of the highest standards of two parties at some date in the future. This could be a way to balance between economic and environmental interests and harness economic incentives for the benefit of climate.

Strengthening the Migration-Development Nexus through Improved Policy and Institutional Coherence

The complexity of migration issues is clearly reflected by states diverging national migration policy interests that exists within one state. In line with the Swiss Report on International Cooperation on Migration of the Swiss Federal Council , this complexity requires close coordination and cooperation between the governmental institutions and all offices. Only through a close and coherent cooperation between all governmental actors involved in migration issues the migration-development nexus can be strength. The present paper will suggest how intergovernmental cooperation can lead to better policy coherence in migration by interlinking all actors involved.

A new institutional approach to Japanese firms' foreign direct investment under free trade agreements

This paper examines the determinants of foreign direct investment (FDI) under free trade agreements (FTAs) from a new institutional perspective. First, the determinants of FDI are theoretically discussed from a new institutional perspective. Then, FDI is statistically analyzed at the aggregate level. Kernel density estimation of firm-size reveals some evidence of "structural changes" after FTAs, as characterized by the investing firms' paid-up capital stock. Statistical tests of the average and variance of the size distribution confirm this in the case of FTAs with Asian partner countries. For FTAs with South American partner countries, the presence of FTAs seems to promote larger-scale FDIs. These results remain correlational instead of causal, and more statistical analyses would be needed to infer causality. Policy implications suggest that participants should consider "institutional" aspects of FTAs, that is, the size matters as a determinant of FDI. Future work along this line is needed to study "firm heterogeneity."

Why Do Some International Institutions Contain Strong Dispute Settlement Provisions: New Evidence from Preferential Trade Agreements

To understand why some international institutions have stronger dispute settlement mechanisms (DSMs) than others, we investigate the dispute settlement provisions of nearly 600 preferential trade agreements (PTAs), which possess several desirable case-selection features and are evoked more than is realized. We broaden the study of dispute settlement design beyond “legalization” and instead reorient theorizing around a multi-faceted conceptualization of the strength of DSMs. We posit that strong DSMs are first and foremost a rational response to features of agreements that require stronger dispute settlement, such as depth and large memberships. Multivariate empirical tests using a new data set on PTA design confirm these expectations and reveal that depth – the amount of policy change specified in an agreement – is the most powerful and consistent predictor of DSM strength, providing empirical support to a long-posited but controversial conjecture. Yet power also plays a sizeable role, since agreements among asymmetric members are more likely to have strong DSMs due to their mutual appeal, as are those involving the United States. Important regional differences also emerge, as PTAs across the Americas are designed with strong dispute settlement, as are Asian PTAs, which contradicts the conventional wisdom about Asian values and legalization. Our findings demonstrate that rationalism explains much of international institutional design, yet it can be enhanced by also incorporating power-based and regional explanations.

Mexico's oil and gas policy : an analysis /

Prepared by G. J. Pagliano and others.

Import quotas on textiles : the welfare effects of United States restrictions on Hong Kong : an economic policy analysis /

Mode of access: Internet.

Speeches on questions of public policy,

Includes index.