Special Economic Zones and WTO Compliance: Evidence from the Dominican Republic

Special economic zones (SEZ), one of the most important instruments of industrial policy used in developing countries, often impose export share requirements (ESR). That is, firms located in SEZ are required to export more than a certain share of their output to enjoy a wide array of incentives -apractice prohibited by the World Trade Organization's Agreement on Subsidies and Countervailing Measures. In this paper we exploit the staggered removal of ESR across products and over time in the SEZ of the Dominican Republic -a reform driven by external commitments to comply with WTO disciplines on subsidies- to evaluate how ESR effect export performance at the product- and firm-level. Using customs data on international trade transactions from the period 2006 to 2014, we find that making the Dominican SEZ regime WTO-compliant made SEZ more attractive locations for exporters to be based in. The reform, however, did not have a significant effect on the country's exports nor on the share of export value originating from SEZ

Fiji economic survey: low growth the new normal?

This article reviews the performance of the Fijian economy from 2015 to 2019. After several years of decent growth (around 5%), GDP growth fell to as low as 0.5% in 2019. Earlier hopes that a ‘new normal’ of GDP growth of around 5% per annum had been established have faded. The principle reason for this, it is argued, is a lack of business confidence, which is associated with the 2018 elections, but more fundamentally with a lack of faith in Fiji's political system. At the same time, the government has also been forced to embark on a course of fiscal consolidation, as announced in the 2019–2020 National Budget, due to disappointing revenue collections and undisciplined expenditure in earlier years. The banking sector is hamstrung by a lack of liquidity. This article is written to understand the Fijian economy pre‐COVID‐19, but with the sharp downturn in economic growth in particular due to the impact of the COVID‐19 virus on tourism—Fiji's most important sector—and no room for fiscal expansion, growth prospects in Fiji are currently not bright. An improved medium‐term outlook will require greater confidence (both political and economic) to increase investment, both foreign and domestic. Reforms to reduce the costs of doing business will also help

Betting on the U.S. Market A Discussion of the Legality of Sports Gaming Businesses

Over time, the US sports gaming industry has progressed dramatically beyond what the US anti-gaming law drafters envisioned. The result is a system of mostly antiquated laws controlling modern industry causing confusion across the board. This discussion, therefore, intends to shed light on the US sports gaming legal framework, including analysis of the preeminent US laws that regulate the sports gaming industry and a brief review of various sports gaming businesses that fall within the US legal rubric

All These Worlds are Yours, Except India: The Effectiveness of Cash Subsidies to Export in Nepal

This paper studies the impact of a `textbook' ad-valorem export subsidy on firm-level export performance. The Cash Incentive Scheme for Exports (CISE) program offered by the government of Nepal offers a cash subsidy to firms exporting a select group of products to countries other than India. Using customs transactions data combined with subsidy disbursements at the firm level from 2011 to 2014, we estimate the impact of the subsidy on exports of targeted and non-target product-destination combinations and their extensive and intensive margins. We employ a range of doubly-robust matching estimators to control for the non-random selection of exporters into the scheme. We find that subsidized firms increased their exports of targeted product-destinations relative to firms in the control group and that this rise is fully accounted for by the extensive margin: a higher number of targeted products exported and foreign markets served. We do not find any significant changes along the intensive margin nor among non-targeted product-destination combinations. While our results show that the CISE scheme fomented export diversification, its limited impact on total exports and high fiscal cost call into question its effectiveness

Producer services and trade liberalization

Trade liberalization and recent advances in communication and information technologies increasingly permit the trade of producer services across borders. This entry discusses research on the nature and importance of such trade, and on the consequences of services trade liberalization. Trade in producer services now accounts for close to 70% of services trade and 14% of total world trade. Services trade liberalization has figured prominently in multilateral negotiations in the World Trade Organization and in many regional trade agreements. Progress in liberalizing services trade has been slow, however, and has been achieved mainly via unilateral initiatives. As a consequence, important barriers remain across many countries and types of services. This is despite the fact that a small but growing body of research has shown that trade liberalization in producer services can have substantial positive economic effects

Availability, price and affordability of cardiovascular medicines: A comparison across 36 countries using WHO/HAI data

<p>Abstract</p> <p>Background</p> <p>The global burden of cardiovascular disease (CVD) continues to rise. Successful treatment of CVD requires adequate pharmaceutical management. The aim was to examine the availability, pricing and affordability of cardiovascular medicines in developing countries using the standardized data collected according to the World Health Organization/Health Action International methodology.</p> <p>Methods</p> <p>The following medicines were included: atenolol, captopril, hydrochlorothiazide, losartan and nifedipine. Data from 36 countries were analyzed. Outcome measures were percentage availability, price ratios to international reference prices and number of day's wages needed by the lowest-paid unskilled government worker to purchase one month of chronic treatment. Patient prices were adjusted for inflation and purchasing power, procurement prices only for inflation. Data were analyzed for both generic and originator brand products and the public and private sector and summarized by World Bank Income Groups.</p> <p>Results</p> <p>For all measures, there was great variability across surveys. The overall availability of cardiovascular medicines was poor (mean 26.3% in public sector, 57.3% private sector). Procurement prices were very competitive in some countries, whereas others consistently paid high prices. Patient prices were generally substantially higher than international references prices; some countries, however, performed well. Chronic treatment with anti-hypertensive medication cost more than one day's wages in many cases. In particular when monotherapy is insufficient, treatment became unaffordable.</p> <p>Conclusions</p> <p>The results of this study emphasize the need of focusing attention and financing on making chronic disease medicines accessible, in particular in the public sector. Several policy options are suggested to reach this goal.</p

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Descripción: Los países exportadores de productos agrícolas se enfrentan con limitantes de acceso a los mercados internacionales debido a las dificultades para cumplir con las regulaciones vinculadas con los límites máximos de residuos de plaguicidas químicos. Para ello, este proyecto se enfoca en desarrollar investigación y herramientas de extensión y capacitación para encontrar alternativas biológicas complementarias en el control de plagas para poder mantenerse en los mercados de exportación. Así mismo, esta iniciativa es el tercer capítulo de un proyecto global que inició en Asia y África, el cual se implementará en 11 países de América Latina y trabajará con el sector oficial, privado y la academia como estrategia interinstitucional. Objetivo General: Promover el uso de bioplaguicidas y otras opciones de manejo integrado de plagas en cultivos de exportación de América Latina y el Caribe, para mejorar el cumplimiento de los límites máximos de residuos de plaguicidas y así facilitar el comercio agrícola

China's National Champions: The Evolution of a National Industrial Policy—Or a New Era of Economic Protectionism?

In this article we ask a series of related research questions concerning China's recent industrial policies, particularly the 10th and 11th five‐year economic policy plans. Our questions go to the nature of China's long‐term competitiveness of its national champions, and to what extent Chinese government policies are evolving to domestic protectionism that adversely affects foreign invested enterprises' (FIEs) competitive position in the Chinese economy. We thus evaluate the nature of the five‐year economic policy plans, their adverse impact on FIEs operating in China, and the rise of designated Chinese national champions (in the 11th five‐year economic policy plan) to compete with major FIEs on a global scale. However, we suggest that the role of the Chinese government's recent industrial policy, when compared to Michael Porter's “Diamond of National Competitive Advantage” recommended government policy approaches, may not augur well in the long‐term for China's national champions. © 2013 Wiley Periodicals, Inc.Peer Reviewedhttp://deepblue.lib.umich.edu/bitstream/2027.42/96704/1/21535_ftp.pd