published_or_final_version / Economics / Master / Master of Philosophy

This study analyzes the evolution of the regime governing private international trade law from its inception in the eleventh century through to its modern formulation in the twentieth century. It also seeks to explain its development by focusing on three theories of international relations. The regime is defined in terms of its substantive and procedural dimensions. The nature and strength of the norms governing the substantive dimension (prices, liability for defective goods, allocation of transport costs, insurance, and financial and credit arrangements) and the procedural dimension (locus of regulation, methodology of rule creation, and dispute settlement) are analyzed over three historical phases. These three periods are the medieval period, from the eleventh to the sixteenth centuries, the early modern period, from the seventeenth to the nineteenth centuries, and the modern period in the twentieth century. The regime norms are found to exhibit significant continuity over time, although there has been considerable variation in the rules. The strength of the regime has also varied over the three phases. Three theoretical perspectives (structural realism, functionalism, and sociological analysis) are evaluated for their relative ability to explain the origin, evolution, nature, and strength of the regime. Each perspective is found to offer important insights, but a synthesis of approaches is necessary to capture the complexity and richness of the regime's evolution. Structural realism does not account for the origin of the regime and is of limited assistance in explaining the strength of voluntary standards. It does, however, explain the influence that states' concerns for political/legal autonomy have had on the regime and offers a reasonably good account of the roles that the United States and the United Kingdom have played in the evolution of the regime. Sociological analysis assists in accounting for the origin and nature of the regime, but it does not provide a comprehensive theory of cooperation. Reference to the other approaches is required as a supplement to sociological analysis. Functionalism provides the best explanation of the origin and nature of the regime. However, it is unable to account for variations in the strength of the regime over the three historical periods. Reference to the influence of changing structures of political authority and to the ideas, knowledge, and values of the major commercial actors is necessary as a supplement to functional analysis.

China permits foreign investors to establish foreign investment companies limited by shares (FICLBS) together with Chinese domestic investors after 1995. FICLBS are a new form of foreign investment in addition to Sino-foreign Equity Joint Ventures, Sino-foreign Contractual Joint Ventures and Wholly Foreign Owned Enterprises. In the meantime, FICLBS have close relations with and are strictly governed by PRC Company Law. The double nature of FICLBS accounts for many characteristics of FICLBS. As a form of foreign investment, FICLBS are based on the foreign investment regime. FICLBS are governed by the legal provisions relating to foreign investment regime. At the same time, various State and Party policies give various characteristics to FICLBS and make them different from other foreign investment enterprises. As a form of modern company, FICLBS are greatly influenced by both civil law and common law as a result of the policy of joining the world economy. This thesis focuses on the common law influences. The influences of common law on FICLBS are manifest in various respects. On the other hand, various Chinese characteristics are intentionally remained. These Chinese characteristics can be found in many important phases and aspects of FICLBS such as corporate capacity, corporate governance, shares and dividends. The contradicting characteristics of FICLBS are a product of the contradicting State and Party policies underlying them. On one hand, China adopts the opening-up policy and has been making constant efforts to join the world economy. On the other hand, China has always been trying to maintain the so-called Chinese characteristics despite the fact that there is no generally accepted definition of Chinese characteristics. Although China has always been committed to keeping its policies consistent, the unstable nature of the policy basis of FICLBS will inevitably affect the future of FICLBS. However, since the opening-up policy of China will not possibly be reversed in the future, FICLBS will remain available for foreign investors no matter how the specific policies are changed.

This dissertation explores the legal issues raised by the participation of private persons in the settlement of international economic disputes, using the potential enlargement of legal standing in the World Trade Organisation (WTO) as a case study. In the first part, a typology of the special regime of responsibility of WTO Members is drawn, to serve as a "normative bridge" between the twin phenomenon of legalisation of international trade relations and judicialisation of international trade dispute settlement. In the second part, a comparative study of the participation of private persons in the settlement of international economic disputes is conducted, using the doctrine of diplomatic protection from general international law as the analytical framework. This permits an inventory of the various means of private participation in the current practice of States, as well as shedding light on the main systemic problems that are raised, notably in the field of foreign direct investment, where important developments have taken place. In the third part, a study de lege feranda on the enlargement of legal standing in the WTO dispute settlement mechanism is undertaken. The study is rooted in the previous analysis of the special regime of responsibility of WTO Members and the comparative survey on the participation of private parties in the settlement of international economic disputes. The dissertation demonstrates that the problems concerning private persons in the current mechanism should not be answered by offering them direct access to the WTO, but rather by refocusing attention on the central role of the State in the mediation of diverging interests in the governance of the world trading system. It proposes as a conclusion that WTO Members should instead look into formalising the process of handling private complaints at the domestic level.

<p>This paper will analyse critically the main sources, namely UNCAC, the African Union Convention on Prevention and Combating Corruption (AU Convention), the Southern African Development Community Protocol against Corruption (SADC Protocol) and the Council of Europe Criminal Law Convention on Corruption (CoE Convention). Furthermore, the paper will examine the corresponding explanatory notes and try to provide a picture of the most important aspects of the issue. As many countries are obliged to consider the criminalisation of trading in influence, drawing an overview of it may make a substantial contribution to its comprehension. Due to the limited space, the paper is unable to cover all provisions of trading in influence in countries where it exists. Accordingly, the discussion will be restricted to the situation in France, Spain and Belgium. By analysing the position in these countries, the different approaches to criminalisation can be highlighted.</p>

The South African Clay Brick Industry has experienced major change in the last 9 years. Industry driving forces such as globalization, low industry growth rates and government policy changes have affected the local industry as have the bank interest rates and the relative weakness of the SA currency. These industry-driving forces have resulted in a number of local producers undertaking exports of products. The research underlying this report had a threefold objective: a) To identify the key factors affecting the sustainable export of clay products by SA producers. b) To evaluate the key factors affecting the sustainable exports of products by SA producers. c) To utilize the information gathered to identify the critical success factors that support or discourage export development in the Clay brick Industry. The key factors were also used to develop a export success model and assist the aspiring exporter through the process. In order to research the key success factors, it was necessary to firstly analyze modern business strategy and evaluate the chosen strategy. Thereafter, an industry analysis was carried out and the present situation within the industry evaluated. Research was conducted by means of a questionnaire and selected interviews with the industry. The results from the research make it possible to reach conclusions regarding critical success factors and specific factors that will assist the industry in its export drive. The research also identified a host of government -sponsored export incentives that will support the industry in growing exports. Finally, a number of recommendations were made that will go a long way in addressing industry challenges. / Thesis (MBA)-University of Natal, Durban, 2003.

This thesis studies the causes and consequences of the credibility problem in trade liberalization, with a special reference to African economies. The two necessary conditions for credibility are found to be macroeconomic compatibility and time-consistency, while the sufficient conditions are more difficult to identify. A lack of credibility is typically probabilistic as private agents may be uncertain about the government's intentions, or the future terms of trade. The first part of the thesis develops a theory of economic behaviour in the absence of credibility. Due to private responses, incredibility creates a welfare cost which may arise from (i) non optimal intertemporal substitution in consumption, (ii) accumulation of stocks of imports, (iii) insufficient relocation of factors, and (iv) deferral of investment. A simple consumption model and two production models are used to assess the magnitude of the welfare cost and to derive a cost curve as a function of the probability of default. A non-monotonic curve with kinks emerges. Many standard results concerning the speed of liberalization change drastically when the assumption of full credibility is relaxed. Containing consumption costs would typically call for a gradual reform to reduce the incentive to accumulate inventories, while, from the production point of view, a big bang or initial overshooting are preferable. Gradualism is preferable when (i) reserves may otherwise be depleted by speculative imports, forcing the government to abandon the reform, (ii) only incremental devaluation is possible, or (iii) the level of the implicit tariff is unknown. The second part examines how liberalization episodes can be identified empirically using a quantitative measure of trade policy. The average implicit tariff index, which is the ratio of the domestic deflator to the world price index, is derived for Kenya. As the domestic deflator appears to be biased, a hypothetical implicit tariff index is derived from a Linear Expenditure System. Further, the other empirical study quantifies the social cost of incredibility during four Kenyan reforms. Three hypotheses are tested: (i) speculative accumulation of imports, (ii) deferral of investment, and (iii) increased liquidity in response to perceived uncertainty about future trade policy. The highest welfare cost was incurred during the 1980 reform which was not coordinated with exchange rate management and was therefore incompatible.

It is widely believed that small and medium-sized enterprises ("SMEs"), acting as a source of innovation and job creation, play a key role in the economy of Canada. / The legal framework which regulates SMEs' activities is vast. This thesis focuses on the legal framework and most important aspects of three critical areas: financing, taxation and international trade. / After describing and interpreting the legal framework of these areas and the information obtained from public and private institutions which are considered key in these issues, this thesis presents conclusions in relation to the question of how and in what way, if any, the current legislative and regulatory framework relating to SMEs contributes to the growth and prosperity of SMEs and to the importance of such a framework to SMEs' success and growth.

This study unveiled the trade-environment debate which has been revolving in the World Trade Organization for quite a long time now. While economic integration and trade liberalization offer the promise of growth and prosperity, environmentalists fear that free trade will lead to increased pollution and resource depletion. On the other hand, free traders worry that over-reaching environmental policies will obstruct efforts to open markets and integrate economies around the world. Trade liberalization has the potential to affect the environment both positively and negatively. Trade and environment tensions have therefore emerged as a major issue in the debate over globalisation. This paper examined the contours of these tensions and argued that trade policy and environmental programs can be better integrated and made more mutually supportive.

This thesis seeks to investigate the lack of participation by African countries in the WTO Dispute Settlement System by first providing an overview of the Dispute Settlement Understanding (DSU) system and, secondly by explaining the reasons that forestall the participation of African countries.