External Liberalization by India and China: Recent Experience and Future Challenges / Arvind Panagariya, Asha Sundaram

In this study, the authors aim to analyze India’s trade performance from the period of liberalization until the recent financial crisis, and compare it to China’s. The authors then examine Indian trade and investment policy and also institutional factors that potentially determine these trade patterns and performance, especially where they differ from China’s. Finally, the authors highlight future trade policy challenges for India and also provide suggestions to ensure strong growth in trade and integration with the global market. This paper contributes by performing a comparative analysis of the Indian and Chinese experiences under trade liberalization and also by outlining potential challenges for Indian trade policy in the future.

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External Trade Performance of Philippines: November 2013 / National Statistics Office

Total external trade in goods for November 2013 reached $9.527 billion, representing an 8.0 percent increase from $8.819 billion recorded during the same month in 2012. The growth was due to the 0.5 percent and 18.8 percent increase on total imports and exports, respectively. However, the balance of trade in goods (BOT-G) for the country for the month of November for years’ 2013 and 2012 both registered a trade deficit with value amounting to $944 million and $1.597 billion for each period.

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Foreign Trade of Turkmenistan: Trends, Problems and Prospects / Ishanguly Jumayev

This paper analyzes trends in foreign trade of Turkmenistan. It examines the structure of exports and imports of goods and trade relations with Central Asian countries. The paper is primarily focused on exports of natural gas and petroleum.

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Changing asset endowments and smallholder participation in higher value markets: evidence from certified coffee producers in Nicaragua / Jason Donovan, Nigel Poole

This paper examines the capacities of smallholders in Nicaragua to exploit new linkages to certified coffee
markets following the coffee crisis. Data on livelihood assets were collected from 292 households, which
were clustered to test how differences in outcomes (asset building) reflect variations in initial asset
endowments. The results suggest that most households built particular elements of their asset base
and increased their resilience to future shocks. However, households struggled to make effective use of
the gains for intensifying their livelihoods. Of the least-endowed households, few made investments in
the scale or productivity of coffee, and most continued to depend heavily on subsistence production
and seasonal off-farm income for survival. In conclusion, improved market access alone, even under relatively
favorable market conditions and with considerable external support, will have uncertain impacts
on rural poverty if the underlying constraints on household assets and investments are not addressed

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Corporate governance practices in emerging markets: The case of GCC countries / Husam-Aldin N. Al-Malkawi, Rekha Pillai, M. I. Bhatti

This paper examines the corporate governance (CG) practices in emerging markets with special reference to the listed firms in the Gulf Cooperation Council’s (GCC) oil rich countries. It develops an un-weighted Corporate Governance Index (CGI) model for non-financial firms using recent data. The usefulness of the model is demonstrated with a specific country example. The index identifies thirty internal governance attributes which are abridged in three categories of all the selected firms to form the best CG practices in the region. The results demonstrate that GCC companies adhere to 69% of the attributes addressed in the CGI. The results also show that the firms listed in the United Arab Emirates stock markets exhibit the best adherence to the CG attributes examined in the study followed by Oman, Saudi Arabia, Qatar and Kuwait, respectively. The current paper offers valuable recommendations to policy makers to gradually embed strong and specific governance practices. Special emphasis is placed to board effectiveness and structural and organizational frameworks in order to ensure a sustainable quality of CG practices in the region.
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Entangled Relationship between Article 2.1 of the TBT Agreement and Certain other WTO Provisions / Henry Hailong Jia

Article 2.1 (only the part containing the national treatment obligation) of the Agreement on Technical Barriers to Trade (TBT) has been interpreted and applied for the first time in three recent TBT disputes since the establishment of the World Trade Organization. This article will illustrate that the interpretive approach adopted by the Appellate Body, however, created a complicated relationship between TBT Article 2.1 and other WTO provisions. It created an irreconcilable interpretive conflict between TBT Article 2.1 and GATT Article III:4. It also introduced one same key test in the analysis of TBT Article 2.1 and 2.2 under a certain condition while they contain two different obligations. Finally, it sent out a confusing message concerning the applicability of GATT Article XX to TBT Article 2.1.

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