This paper is concerned with the relative volatility of international flows of debt and equity capital. It is shown that if foreign investors are less well informed about the domestic economy than domestic investors, then international flows of debt capital will be more volatile than flows of equity capital in the sense that the proportional change of foreign bondholdings in an economy in response to a change in that economy's economic prospects will be greater than the proportional change in foreign stockholdings. This is shown to be consistent with the behavior of international flows of debt and equity capital during the Asian crisis.
The state and dynamics of international investments are examined in the article. The dynamics of international investments provided by the group of the World bank for period 2010-2014 is investigated. It is marked that the modern feature of investments is that having a different national origin but they intertwine and interact. They create international streams and grow into world investment resources that function in the single global investment space. It is marked that the basic sources for international investment streams are resources of the World bank and financial activity of multinational corporations. It is proved that 147 multinational corporations manage all world economy. It is marked that one of key moments is a riskiness of investments. There are a number of risks: political risks, risk of environmental disaster and non-commercial risk. The international investment streams play a considerable role in the economies of all countries, and Ukraine is no exception. Foreign investments not only provides mobilization, flow of the capital but also participate in organization of international division of labour through realization of competitive advantages of separate statesparticipants. But there is a considerable languor at the market of international investments during last years. The basic investment sources are group of the World bank, and activity of multinational corporations that on this time acts as a "circulatory system" of global economy. ; В статье рассматривается состояние и динамика международных инвестиций. Исследована динамика международных инвестиций которые предоставлены группой Мирового банка за период с 2010 года по 2014 год, включительно. Отмечено, что современной особенностью инвестиций является то, что имея разное национальное происхождение они переплетаются и взаимодействуют между собой. Они создают международные потоки и превращаются в мировые инвестиционные ресурсы, которые функционируют в едином глобальном инвестиционном пространстве. Отмечено, что основными источниками международных инвестиционных потоков являются ресурсы группы Мирового банка и финансовая деятельность транснациональных корпораций. Определенно, что 147 транснациональные корпорации руководят всей мировой экономикой. Отмечено, что одним из ключевых моментов есть рискованность инвестиций. К рискам можно отнести политические риски, риски что связаны с возникновением экологических катастроф, некоммерческие риски. Сделан вывод что, международные инвестиционные потоки играют значительную роль в экономиках всех стран, не является исключением и Украина. Иностранные инвестиции не только обеспечивает мобилизацию, переток капитала, но и участвуют в организации международного разделения труда через реализацию конкурентных преимуществ отдельных государств-участников. Но последние годы на рынке международных инвестиций наблюдается значительная вялость. К основным инвестиционным источникам можно отнести деятельность группы мирового банка, и деятельность транснациональных корпораций, которые на данное время выступают как «кровеносная система» глобальной экономики. ; В статті розглядається стан та динаміка міжнародних інвестицій. Досліджено динаміку міжнародних інвестицій, що надано групою Світового банку за період з 2010 року по 2014 рік, включно. Зазначено, що сучасною особливістю інвестицій є те, що маючи різне національне походження вони переплітаються та взаємодіють між собою. Вони створюють міжнародні потоки та перетворюються у світові інвестиційні ресурси, що функціонують в єдиному глобальному інвестиційному просторі. Зазначено, що основними джерелами міжнародних інвестиційних потоків є ресурси групи Світового банку та фінансова діяльність транснаціональних корпорацій. Визначено, що 147 транснаціональних корпорацій керують всією світовою економікою. Зазначено, що одним з ключових моментів є ризиковість інвестицій. До ризиків можна віднести політичні ризики, ризики що пов'язані з виникненням екологічних катастроф, некомерційні ризики. Зроблено висновок що, міжнародні інвестиційні потоки відіграють значну роль в економіках усіх країн, не є винятком і Україна. Іноземні інвестиції не тільки забезпечує мобілізацію, перетікання капіталу, але і беруть участь в організації міжнародного поділу праці через реалізацію конкурентних переваг окремих держав-учасників. Але останні роки на ринку міжнародних інвестицій спостерігається значна млявість. До основних інвестиційних джерел можна віднести діяльність групи світового банку, та діяльність транснаціональних корпорацій, які на даний час виступають як «кровоносна система» глобальної економіки.
The European Union (EU) is usually described as a promoter of global environmental governance, committed to sustainability and the precautionary principle. Regarding international fisheries management, however, the EU has repeatedly deviated from these principles. This article analyses the EU's policy in two Regional Fisheries Management Organizations (RFMOs): the Northwest Atlantic Fisheries Organization (NAFO) and the International Commission for the Conservation of Atlantic Tunas (ICCAT). The EU's deviation from its environmental principles is explained by the weakness of the pro-environmental advocacy coalition in the EU's fisheries policy subsystem and the overcapacity of the EU's fleet, which first arose when European fishing nations were excluded from traditional fishing grounds during the creation of Exclusive Economic Zones in the 1970s. At the same time the article finds evidence of a trend towards sustainability and precaution in the EU's external fisheries policy since the mid-2000s.
Abstract From a purely contractual perspective, this article reflects upon labour standard clauses with the objective to ensure that the fundamental ILO conventions and the International Bill of Human Rights are complied with throughout global value chains in respectively business-to-business (private), and public commercial contracts. The clauses are in both settings based widely on the same standards; however scholarship on the two types of contracts has been quite separate. The article reviews some Scandinavian case law concerning labour standard clauses and procurement regulation. It finds that contractual argumentation supported the outcome in these cases, isolates this argumentation, and reflects on whether contractual perspectives on the public contract might inspire current research on private contracts. It finally argues that an actual fusion is already taking place, wherefore contract lawyers may play an important role as to whether 'the interpretative wall' should be breached, or whether this is not feasible due to the distinctive characteristics of each contract.
This paper examines the case of Andritz v. United States—first filed in the U.S. Court of International Trade then transferred to the U.S. District Court for the Southern District of Texas—as a demonstrative case study highlighting the collaboration between U.S. Customs and Border Protection (CBP) of the Department of Homeland Security and the Animal and Plant Health Inspection Service (APHIS) of the Department of Agriculture. CBP is charged with facilitating legitimate trade and travel while safeguarding the borders of the United States to protect against, inter alia, the entry of dangerous goods, including through agricultural import and entry inspection. Where these priorities overlap and potentially conflict, the agency is tasked with making reasonable decisions quickly, on the basis of the information available and in consultation with relevant subject matter experts across the Federal Government. To facilitate this process and, where challenged, its expeditious and effective judicial review, counsel advising the trading community should familiarize themselves with the legal sources governing the allocation of relevant authorities and providing for appropriate judicial review. The Andritz case provides a useful view of CBP's enforcement of the importation-related aspects of the Plant Protection Act, and showcases the agency's close collaboration with the Department of Agriculture. The case also suggests important lessons for international trade attorneys, concerning both the potential impact of agricultural laws upon importation and the appropriate avenue for judicial review in this context.
The Lisbon Treaty has enlarged the EU's competences in external investment policy. The EU could thus increase its protagonist role in third-party funding (TPF) regulation in a manner analogous to its achievements in the investment regime, where the EU managed to rally the member states behind DG Trade's vision. A treaty-based analysis combined with a political evaluation suggest the EU is expanding its field of competences either when it has a clear mandate or by establishing a modus vivendi as it has been the case with its external relations, particularly at the United Nations. There is therefore a case to be made that the EU would have the competence and the interest to expand its investment reform leadership to encompass TPF regulation. Hong Kong and Singapore have added provisions on TPF in their respective national arbitration legislation explicitly allowing TPF as part of a neoliberal strategy to attract arbitration while ignoring the risk of increased forum shopping. In contrast, the EU CETA and EU-Vietnam Treaties are the only treaties to conceptualize and impose a disclosure of TPF, which nevertheless falls short of addressing concerning the adverse consequences of TPF in ISDS.
