The International Coffee Agreement (ICA) establishes the only dedicated intergovernmental forum for coffee-related matters: the International Coffee Organization (ICO). The ICO brings together various stakeholders—including coffeeimporting and coffee-exporting countries, the private sector, and nongovernmental organizations (NGOs)—to discuss, negotiate, and cooperate on shared strategies and policies regarding the global coffee economy.
Topic:
Agriculture, International Cooperation, International Trade and Finance, Markets, and Treaties and Agreements
Mali is one of the world's poorest countries, with over two-thirds of the population – mostly in rural areas – living on less than a dollar a day. Mali is also the second largest cotton producer in sub-Saharan Africa after Burkina Faso. Cotton production is generally heralded as a success story in much of West and Central Africa, providing a critical development strategy for poor African countries such as Mali and enabling both governments and farm households to access income. The World Bank, International Monetary Fund (IMF), and the wider donor community have also recognised the importance of cotton in reducing poverty and supporting the country's economy. However, in recent years, much of this success has been undermined by depressed and volatile cotton prices, partly as the result of unchecked US subsidies, and the downward trend of commodity prices.
Topic:
Agriculture, International Organization, International Trade and Finance, Treaties and Agreements, and World Trade Organization
The quiet advance of trade and investment agreements between rich and poor countries threatens to deny developing countries a favourable foothold in the global economy. Powerful countries, led by the USA and the European Union (EU), are pursuing regional and bilateral free trade agreements with unprecedented vigour. This is happening without the fanfare of global summitry and international press coverage. Around 25 developing countries have now signed free trade agreements with developed countries, and more than 100 are engaged in negotiations. An average of two bilateral investment treaties are signed every week. Virtually no country, however poor, has been left out.
Topic:
Emerging Markets and International Trade and Finance
Europe is currently negotiating trade agreements with 76 countries in Africa, the Caribbean and the Pacific (ACP). These so-called Economic Partnership Agreements (EPAs) would create a free trade area between these countries and Europe.
Topic:
International Trade and Finance and Treaties and Agreements
In 2002, the European Union required that an impact assessment be done for all major initiatives, including many regulations, directives, decisions, and communications. This paper is the first paper to statistically analyze these impact assessments using the largest available dataset. As a benchmark, we compare our results in the EU with recent results on the quality of regulatory analysis in the U.S. We score impact assessments using a number of objective measures of quality, such as whether a particular assessment provides any quantitative information on costs or benefits, and use the scores to develop two indices of quality.
Topic:
Economics, Government, and International Trade and Finance
Poor countries are rarely challenged in formal WTO trade disputes for failing to live up to commitments, reducing the benefits of their participation in international trade agreements. This paper examines the political-economic causes of the failure to challenge poor countries and discusses the static and dynamic costs and externality implications of this failure. Given the weak incentives to enforce WTO rules and disciplines against small and poor members, bolstering the transparency function of the WTO is important to make trade agreements more relevant to trade constituencies in developing countries. While our focus is on the WTO system, our arguments also apply to reciprocal North-South trade agreements.
Topic:
Development, Economics, Government, and International Trade and Finance
American Enterprise Institute for Public Policy Research
Abstract:
This paper studies how factors such as corruption perception and the level of democracy influence foreign direct investment to developing economies. Our results suggest that less corrupt countries and less democratic countries receive more foreign direct investment. What could account for this pattern of investment?
Topic:
Corruption, Democratization, Foreign Exchange, and International Trade and Finance
The International Monetary Fund (IMF) is undertaking a wide-ranging reform of its governance and operations within a framework proposed by Rodrigo de Rato, its managing director. The proposed reform is inspired in large part by the emergence of large middle-income developing countries such as China and India, which now play a major role in the world economy but are underrepresented in the Fund as the low-income developing countries. The proposed reform is also inspired by the need to simplify the Fund's internal practices and focus more intensively on its basic mandate: to “oversee the development of the international monetary system in order to ensure its effective operation.”
Topic:
Development, Economics, and International Trade and Finance
The United States likes to think of itself as a nation that abides by its treaties and commitments. Successive U.S. administrations have taken the obligations implied by international agreements seriously: They have opted out of parts of many agreements for fear that compliance would be contrary to U.S. interests, and have refused outright to sign some treaties on the grounds of potential legal exposure. But U.S. behavior toward the World Trade Organization is different; in this case, the United States has been quite willing to accept binding multilateral rules. Yet, the United States has also been repeatedly judged to be in violation of its WTO commitments by the organization's dispute settlement panels, and although some violations could be ascribed to uncertainties about the meaning of the rules, the United States is also guilty of disregarding the rules deliberately. Opinion in Congress sometimes encourages this behavior; legislators are less likely to question the legitimacy of U.S. conduct than to question the WTO's authority to pass judgment over the United States. Moreover, these tensions are likely to escalate if the Doha Round of global trade negotiations breaks down. If the diplomatic route to market access is blocked, trading partners will seek access to U.S. consumers by bringing more cases before the WTO's tribunals. A surge in such cases could increase resentment of the WTO in the United States, weakening America's commitment to its traditional postwar role as the bulwark of the international trading system. This would be unfortunate, because even without changes in the behavior of its trading partners, the rules of the WTO improve the performance of the U.S. economy.
Topic:
International Relations, International Trade and Finance, and Treaties and Agreements