Thesis (Ph. D.)--University of London, 2002. / Includes bibliographical references (p. 273-294) and index.

<p>The United Nations Convention on Contracts for the International Sale of Goods 1980 (CISG) seeks to provide a standard uniform law for international sales contracts. This research paper analyses the rationale behind South Africa&rsquo / s delay in deciding whether to ratify the CISG, and its possible effect on trade with other nations. The CISG drafters hoped that uniformity would&nbsp / remove barriers to international sales thereby facilitating international trade. Ratification of the convention is only the beginning of uniformity / uniformity must then be extended to its application&nbsp / and interpretation. Not all countries have ratified the Convention yet they engage in international trade in goods: this state of affairs presents challenges since traders have to choose a national&nbsp / law that applies to their contract where CISG does not apply. This takes traders back to the undesirable pre-CISG era. On the other hand, those States that have ratified the convention face&nbsp / different challenges, the biggest one being a lack of uniformity in its interpretation. The problem of differing interpretations arises because some CISG Articles are vague leading to varied&nbsp / interpretations by national courts. Further, the CISG is still largely misunderstood and some traders from States that have ratified CISG exclude it from application. South Africa can only ratify an&nbsp / international instrument such as the CISG, after it has been tabled before Parliament, and debated upon in accordance with the Constitution. CISG&rsquo / s shortcomings, particularly regarding&nbsp / interpretation, make it far from certain that CISG would pass the rigorous&nbsp / legislative process. Nonetheless, the Constitution of South Africa requires the South African courts and legislature to promote principles of international law. The paper, therefore, examines, whether the Legislature has a constitutional obligation to ratify CISG. South Africa&rsquo / s membership of the WTO requires&nbsp / that it promote international trade by removing trade barriers. It is, therefore, vital for South Africa to be seen to be actively facilitating international trade. Even though the trade benefits which&nbsp / flow from ratification are not always visible in States that have ratified the CISG, there is some doubt whether South Africa can sustain its trade relations without ratifying the CISG. The paper shows that the formation&nbsp / of contracts under the South African common law is very similar to formation as set out under Part II of the CISG and if the CISG were to be adopted in South Africa, no major changes would be&nbsp / needed in this regard. International commercial&nbsp / principles as an alternative to the CISG still require a domestic law to govern the contract and would, therefore, leave South African traders in the&nbsp / same position they are in currently, where their trading relations are often governed by foreign laws. Ratifying CISG would certainly simplify contract negotiations particularly with regard to&nbsp / governing law provisions. Overall the advantages of ratification for South Africa far outweigh the shortcomings of the CISG, and ratification will assist in ensuring that South African traders get an&nbsp / opportunity to enter the international trade arena on an equal platform with traders from other nations. </p>

Sub-Saharan African nations are highly dependent on the agricultural sector for livelihoods. South Africa and Nigeria depend on agriculture due to the availability of abundant land, labour and natural resources. According to the theory of comparative advantage a state exports the products that it has a comparative advantage in and imports those where it does not have a comparative advantage. This is facilitated by international trade. International trade is defined as trade among nations that enables a nation to buy certain products that it cannot produce from other nations at a cheaper rate. Furthermore, it is expected that every sovereign state would be able to provide not only food and water but also good access to sufficient food and water to its people. Section 27.1b of Chapter 2 of the South African Constitution of 1996 and Article 16 of Nigeria’s Constitution of 1999 enshrine this provision. A number of factors impact food security. The first is international trade. This is spelt out in the World Trade Organization (WTO) Agreement on Agriculture (AoA). The agreement establishing the WTO is commonly known as the “Marrakesh Agreement.” It was signed in Marrakesh, Morocco on the 15th of April, 1994, at the end of the Uruguay Round of Multiple Trade Negotiations. The AoA consists of three pillars: market access, export subsidies and domestic support .Market access requires all parties to the AoA to remove non-tariff barriers which comprise of import quotas and restrictions and convert them to tariffs; a process known as ‘tariffication’. States are also obliged to reduce export subsidies at the same time as increasing their imports. Domestic support, states are to remove subsidy it gives to its people a process that increases the price of goods. Another factor is trade liberalization. This study examines the effects of WTO agricultural trade liberalization on food security and the mechanisms available to address this issue. It focuses on the food security implications of the WTO AoA and asserts that the AoA favours agricultural producers in developed countries. The study seeks to ascertain the extent to which the realization of the objectives of the agreement will promote food security by looking into the abovementioned three pillars and their relationship with food security. / Thesis (LL.M.)-University of KwaZulu-Natal, Durban, 2013.

The 1990s was marked by deep structural reforms of the Brazilian economy. Trade liberalization can be identified as the launching pad for other structural changes in the economic model which went into effect in the country from there. On one hand, the trade liberalization has created the conditions for the equation of relative prices, acting as an instrument of adjustment between supply and domestic demand, on the other, began to demand a greater effort to attract foreign savings to compensate for the mismatch between demand and supply external, in other words, the internal adjustment generated a strong external imbalance, with the current account deficit. The defense of the argument of comparative advantage was crucial for the purpose of adoption of liberalizing measures in the face of the defense of the country s largest insertion in international trade through competitiveness of productive structures. However, the participation of the regions in foreign trade seems to have reinforced the prevailing pattern before the opening of the economy, which can be attributed to the strong inter-regional economic differentiation. The main objective of the study was to examine the forms of external insertion of the Northeastern economy, highlighting the regional differences and the pattern of trade conducted by the state of Sergipe. For this, we used the index of Revealed Comparative Advantages (RCA). The study showed that the state has VCR into six groups of products, especially food, tobacco and beverages; footwear and leather; and machinery and equipment. In general, the performance of the state revealed the diverse character of the industrial structure, despite the importance of the food sector in total exports. / A década de 1990 foi marcada por profundas reformas estruturais da economia brasileira. A liberalização comercial pode ser apontada como a base de lançamento de outras mudanças estruturais no modelo econômico que passou a vigorar no país a partir daí. Se por um lado, a abertura comercial criou as condições para o equacionamento dos preços relativos, atuando como instrumento de ajuste entre oferta e demanda doméstica, por outro, passou a exigir um esforço maior de captação de poupança externa para compensar o desajuste entre demanda e oferta externas; isto é, o ajuste interno gerou um forte desajuste externo, com déficit em conta corrente. A defesa do argumento das vantagens comparativas foi fundamental para efeito da adoção de medidas liberalizantes, em face da defesa de maior inserção do país no comércio internacional, através da competitividade das estruturas produtivas. Contudo, a participação relativa das regiões no comércio externo parece ter reforçado o padrão prevalecente antes da abertura da economia, o que se pode atribuir à forte diferenciação econômica inter-regional. O objetivo principal do estudo foi examinar as formas de inserção externa da economia nordestina, ressaltando as desigualdades regionais e o padrão de comércio realizado pelo estado de Sergipe. Para isso, utilizou-se o Índice das Vantagens Comparativas Reveladas (VCR). O estudo mostrou que o Estado apresenta VCR em seis grupos de produtos, com destaque para Alimentos, fumo e bebidas; Calçados e couro; e Máquinas e Equipamentos. De forma geral, o desempenho do Estado revelou o caráter diversificado da estrutura industrial, a despeito da importância do setor de alimentos na pauta de exportações.

It is commonly believed about sub-Saharan Africa (SSA) that the region has a comparative advantage in primary resources as reflected by its high share of primary exports to total exports. In acknowledging the region's comparative advantage, the study tries to put the determinants from the Wood and Mayer (1998, (999) (W-M) Heckscher-Ohlin based model in the context of two relatively diversified countries (South Africa and Mauritius) and two commodity-export-dependent countries of sub-Saharan Africa (Nigeria and Cô̌̌te d'Ivoire). The study finds that the skill and land resource measures used in the W -M (1998, 1999) thesis do not explain why Nigeria, having a similar level of skill per worker ratio to South Africa, has not diversified. Further, Mauritius having relatively the highest skill per land ratio specialises in low-skill textiles and clothing, while South Africa specialises in the more human capital-intensive "other manufactures" group. The other measure, a low land per worker ratio that explains Mauritius' relatively higher share of manufacturing exports, also fails to apply to Nigeria. The thesis thus concludes that the W-M land and skill measures could only be rough proxies in determining comparative advantage in manufacturing exports. However, employing the Dutch disease hypothesis recognises the potential of land abundance as a natural resource, namely minerals in South Africa, oil in Nigeria, and cocoa in Cǒ̌te d'Ivoire. The Dutch disease is a dynamic process of structural economic and political development that will permit an understanding of why natural resource abundant countries do not have a comparative advantage in manufacturing, at least in the short to medium term. The study therefore investigates commodity dependence and the Dutch disease effects to examine whether primary resource- based industrialisation offers an escape from underdevelopment. It establishes that South Africa, a mineral resource rich country, diversified based on a broad mineral-energy-complex (MEC) reinforcing the notion that land abundant countries will first invest in capital- intensive primary resource processing. However, the thesis concludes that in Nigeria and Cǒ̌te d'Ivoire where external shocks are more predominant probably because of single commodity export reliance, the manufacturing sector lags behind more due to resource and spending effects that a natural resource boom generates in these economies.

Magister Legum - LLM / The United Nations Convention on Contracts for the International Sale of Goods 1980 (CISG) seeks to provide a standard uniform law for international sales contracts. This research paper analyses the rationale behind South Africa’s delay in deciding whether to ratify the CISG, and its possible effect on trade with other nations. The CISG drafters hoped that uniformity would remove barriers to international sales thereby facilitating international trade. Ratification of the convention is only the beginning of uniformity; uniformity must then be extended to its application and interpretation. Not all countries have ratified the Convention yet they engage in international trade in goods: this state of affairs presents challenges since traders have to choose a national law that applies to their contract where CISG does not apply. This takes traders back to the undesirable pre-CISG era. On the other hand, those States that have ratified the convention face different challenges, the biggest one being a lack of uniformity in its interpretation. The problem of differing interpretations arises because some CISG Articles are vague leading to varied interpretations by national courts. Further, the CISG is still largely misunderstood and some traders from States that have ratified CISG exclude it from application. South Africa can only ratify an international instrument such as the CISG, after it has been tabled before Parliament, and debated upon in accordance with the Constitution. CISG’s shortcomings, particularly regarding interpretation, make it far from certain that CISG would pass the rigorous legislative process. Nonetheless, the Constitution of South Africa requires the South African courts and legislature to promote principles of international law. The paper, therefore, examines, whether the Legislature has a constitutional obligation to ratify CISG. South Africa’s membership of the WTO requires that it promote international trade by removing trade barriers. It is, therefore, vital for South Africa to be seen to be actively facilitating international trade. Even though the trade benefits which flow from ratification are not always visible in States that have ratified the CISG, there is some doubt whether South Africa can sustain its trade relations without ratifying the CISG. The paper shows that the formation of contracts under the South African common law is very similar to formation as set out under Part II of the CISG and if the CISG were to be adopted in South Africa, no major changes would be needed in this regard. International commercial principles as an alternative to the CISG still require a domestic law to govern the contract and would, therefore, leave South African traders in the same position they are in currently, where their trading relations are often governed by foreign laws. Ratifying CISG would certainly simplify contract negotiations particularly with regard to governing law provisions. Overall the advantages of ratification for South Africa far outweigh the shortcomings of the CISG, and ratification will assist in ensuring that South African traders get an opportunity to enter the international trade arena on an equal platform with traders from other nations. / South Africa

The purpose of this research is to evaluate the performance of the emerging stock markets in three regions. The regions chosen as our testing targets are Europe, The Middle East, and Asia. Performance for 2002 to 2004 will be compared to the U.S. stock market.

The thesis deals with the issue of compliance in the context of international treaties on protection of endangered species. Two important treaties are subject of the analysis - the 1973 Convention on International Trade in Endangered Species of Wild Fauna and Flora (known as CITES) and the 1946 International Convention for the Regulation of Whaling. My research focuses on the question whether member states comply with their obligations arising from the treaties. If they do not, then I look for a response to the violation such as use of compliance instruments (e. g. sanctions) and its effect on the breaching state, mainly if the response (if there was any) was successful in making the state come back into compliance. Finally, based on experience with CITES, ICRW and other multilateral environmental treaties, I attempt to design some of the new ICRW compliance mechanism features in order to increase its effectiveness.

In an open economy economic agents distribute their spending between domestic and various import goods and they may reconsider their choice whenever relative international prices change. Armington elasticities quantify these reallocations in demand for goods produced in different countries. Recent analytical frameworks allow to further differentiate between a macro elasticity of substitution between domestic and import goods and a micro elasticity between different import sources. Despite the relevance of Armington elasticities for evaluating trade policy there has been no systematic study on whether micro and macro elasticities significantly differ for highly integrated economies within a free trade area and whether there is a common pattern. Using highly disaggregated data, this paper estimates Armington elasticities for a panel of 15 EMU Member States. Empirical results indicate a significant difference between micro and macro elasticities for up to one half of the consistent product groups considered, implying preferences across EMU countries are not perfectly aligned with non-discriminatory tariffs. I conclude that both the absolute and relative macro elasticities are informative and that heterogeneous preference patterns link to current trade imbalances. (author's abstract) / Series: Department of Economics Working Paper Series

This dissertation consists of four related, sole-authored chapters. It considers the microeconomic mechanisms for gains from trade in the presence of quality investments by firms. It shows within the framework of a quality-augmented heterogeneous firms model that the quality dimension matters for welfare gains from trade. It also provides novel empirical evidence on adjustment mechanisms of aggregate quality as a consequence of globalization. To the best of my knowledge, this is the first contribution to provide a comprehensive analysis of the role of endogenous product quality in the determination of gains from trade. I first offer an explanation for observed industry heterogeneity in trade-induced productivity gains and show that results depend on whether or not firms have the option to invest in quality. I then take a broader view of welfare gains from trade, looking beyond productivity improvements. I find that globalization can imply a quality-variety trade-off when consumer quality preference is strong - a finding which holds under firm heterogeneity and symmetry. Nevertheless, overall gains from trade are positive. With quality being itself an important channel for gains from trade, I also investigate the detailed mechanisms by which aggregate quality changes as a consequence of globalization. This is done within the same theoretical heterogeneous firms framework as well as empirically using firm-level export data matched with firm-level quality ratings. I argue that firm heterogeneity matters for gains from trade by giving rise to an additional welfare channel in the presence of variable elasticity of demand preferences: high quality firms expand sales disproportionately in a larger market, thereby raising aggregate quality. This theoretical prediction is confirmed by the data. Furthermore, I study the mechanisms for gains from trade in a symmetric firms version of the baseline model. This allows me to isolate the role of firm heterogeneity in driving earlier results. In addition, I analyse the efficiency properties of the market equilibrium for the symmetric firms case.