During the past half-century, states have established a large number of international trade institutions, both multilateral and regional in scope. The existing literature on this topic emphasizes that these agreements are chiefly designed to liberalize and increase the flow of overseas commerce. Yet such institutions have another function that has been largely ignored by researchers, namely, reducing volatility in trade policy and trade flows. Exposure to global markets increases the vulnerability of a country's output to terms of trade shocks. Governments seek to insulate their economies from such instability through membership in international trade institutions, particularly the World Trade Organization (WTO) and preferential trading arrangements (PTAs). We hypothesize that these institutions reduce the volatility of overseas commerce. We further hypothesize that, because market actors prefer price stability, trade institutions increase the volume of foreign commerce by reducing trade variability. This article conducts the first large-scale, multivariate statistical tests of these two hypotheses, using annual data on exports for all pairs of countries from 1951 through 2001. The tests provide strong support for our arguments. PTAs and the WTO regime significantly reduce export volatility. In so doing, these institutions also increase export levels.
This dissertation contributes to several fields of international macroeconomics. Chapter 2 presents a new dataset and new evidence on the invoicing pattern in international trade for a large panel of countries. It goes into detail explaining the motivation to set prices in different currencies, with a special focus on the role of the euro as invoicing currency. Chapters 3 and 4 of this study focus on the impact of oil prices on oil-exporting countries, a topic which has received far less attention than the impact on industrial countries. Chapter 3 analyses the import behaviour of oil exporting countries and its potential role in the resolution of global current account imbalances. Chapter 4 analyses the effect of oil price changes on the economy of the world’s largest oil exporting country, Russia. Chapter 5 looks at the international transmission of monetary policy shocks, paying particular attention to the implications of different exchange rate regimes.
The nature of international law -- Treaties -- Custom and other sources of international law -- International law and municipal law -- The international court -- States and international law -- International organizations and regimes -- Individuals and international law -- International law and the international economy -- International conflict of laws
Chapter 1: History of International Investigations and Prosecutions (International Criminal Accountability; International Criminal Justice in Historical Perspective); Chapter 2: International Criminal Tribunals and Mixed Model Tribunals (The International Criminal Tribunal for the Former Yugoslavia; The International Criminal Tribunal for Rwanda; The Making of the International Criminal Court; Mixed Models of International Criminal Justice; Special Court for Sierra Leone; Special Tribunal for Cambodia; East Timor); Chapter 3: National Prosecutions for International Crimes (National Prosecutions for International Crimes; National Prosecutions of International Crimes: A Historical Overview; The French Experience; The Belgian Experience; The Dutch Experience; Indonesia; The U.S. War Crimes Act of 1996; Enforcing ICL Violations with Civil Remedies: The Case of the U.S. Alien Tort Claims Act); Chapter 4: Contemporary Issues in International Criminal Law Doctrine and Practice (Command Responsibility; Joint Criminal Enterprise; The Responsibility of Peacekeepers; The General Part: Judicial Developments; Ne bis in idem; Plea Bargains; Issues Pertaining to the Evidentiary Part of International Criminal Law; Penalties and Sentencing; Penalties: From Leipzig to Arusha; Victims' Rights in International Law).