International standards: their new role in a global economy

2002 ◽  
Author(s):  
D.J. O'Leary
Keyword(s):  
Global Economy ◽  
International Standards

scholarly journals The UK and Digital Trade: Which way forward?

2021 ◽  
Author(s):  
Emily Jones ◽  
Beatriz Kira ◽  
Anna Sands ◽  
Danilo B. Garrido Alves
Keyword(s):  
Global Economy ◽  
Trade Agreements ◽  
Digital Economy ◽  
International Standards ◽  
Policy Implications ◽  
The Internet ◽  
Cross Border ◽  
Data Flows ◽  
The Us ◽  
The Uk

The internet and digital technologies are upending global trade. Industries and supply chains are being transformed, and the movement of data across borders is now central to the operation of the global economy. Provisions in trade agreements address many aspects of the digital economy – from cross-border data flows, to the protection of citizens’ personal data, and the regulation of the internet and new technologies like artificial intelligence and algorithmic decision-making. The UK government has identified digital trade as a priority in its Global Britain strategy and one of the main sources of economic growth to recover from the pandemic. It wants the UK to play a leading role in setting the international standards and regulations that govern the global digital economy. The regulation of digital trade is a fast-evolving and contentious issue, and the US, European Union (EU), and China have adopted different approaches. Now that the UK has left the EU, it will need to navigate across multiple and often conflicting digital realms. The UK needs to decide which policy objectives it will prioritise, how to regulate the digital economy domestically, and how best to achieve its priorities when negotiating international trade agreements. There is an urgent need to develop a robust, evidence-based approach to the UK’s digital trade strategy that takes into account the perspectives of businesses, workers, and citizens, as well as the approaches of other countries in the global economy. This working paper aims to inform UK policy debates by assessing the state of play in digital trade globally. The authors present a detailed analysis of five policy areas that are central to discussions on digital trade for the UK: cross-border data flows and privacy; internet access and content regulation; intellectual property and innovation; e-commerce (including trade facilitation and consumer protection); and taxation (customs duties on e-commerce and digital services taxes). In each of these areas the authors compare and contrast the approaches taken by the US, EU and China, discuss the public policy implications, and examine the choices facing the UK.

Globalization, Openness to Trade and Investment, Technology Transfer, and the Environment: The Cement Industry in East Asia

2005 ◽  
Author(s):  
Michael T. Rock ◽  
David P. Angel
Keyword(s):  
Environmental Performance ◽  
Global Economy ◽  
Leading Edge ◽  
International Standards ◽  
Efficient Production ◽  
Energy Materials ◽  
Open Trade ◽  
Available Technology ◽  
Development Outcomes ◽  
Trade And Investment

Neo-liberal orthodoxy asserts the positive benefits of open trade and investment regimes and of the efficacy of market processes in shaping development outcomes. Among the benefits claimed for openness are access to capital and access to leading-edge technologies. Through trade and foreign direct investment, it is asserted, firms gain access to the best-available technology and production know-how that results in improved economic and environmental performance. To the extent that the leading-edge technologies are also less energy, materials, and pollution intensive, new investment under conditions of open trade and investment regimes can also lead to improved environmental performance (Low 1992). By this account, pollution-intensive and energy-intensive production processes are replaced by more energy and materials-efficient production, based on technologies sourced on a global basis. Over time, the increasing integration of industrializing economies into the global economy results in improved aggregate economic and environmental performance of industry. These claims as to the benefits of openness are disputed, however, by other researchers who suggest that the impact of openness on the environmental performance of industry is largely contingent upon the incentives that exist for adopting technologies that are less polluting and less energy and materials intensive, and more generally, upon effective governance structures at the national and local scale (Chapters 2 and 3; Brandon and Ramankutty 1993; Rock 2002a). Under conditions of openness firms have a range of technology choices and may well choose technologies that are below international standards of environmental performance, particularly when technologies that achieve higher environmental performance are more costly or more capital intensive than older, more pollution-intensive technologies. In addition, countries with weak environmental regulations may emerge as ‘pollution havens’ for pollution-intensive industries (Baumol and Oates 1988; Neumayer 2000), particularly when new foreign investment actually involves older ‘dirty’ technologies, as appears to have happened in some parts of the textiles and electro-plating industries (Rock 2002a). In this view, improved environmental performance within particular industries depends inter alia upon the coexistence of two conditions: access to technologies that are less energy, materials, and pollution intensive, and incentives to select these technologies (whether in the form of environmental regulation, resource pricing, or other tools of environmental policy, such as policy integration) and to adapt them to local conditions.

scholarly journals Global Economy and Turkey: 2016 and Beyond

2016 ◽  
Author(s):  
Durmuş Yılmaz
Keyword(s):  
Open Economy ◽  
Capital Flows ◽  
Global Economy ◽  
Emerging Market ◽  
Commodity Prices ◽  
High Growth ◽  
International Standards ◽  
Business Community ◽  
Structural Problems ◽  
Industrial Sectors

Irrespective of whether advanced economies (AEs) or emerging market economies (EMEs), the number one problem of the global economy is not being able to generate a satisfactory growth. Income levels is in some countries are barely above the per-crisis level. Despite ample liquidity due to quantitative monetary policies, consumption and investment demands are weak. Because high level of indebtedness deter economic agents from using credit. Credit markets still do not function well either. Quantitative easing policies have been successful in containing further deterioration. Despite ample liquidity inflation has not risen, but it did delivered the expected growth. Because banking system in AEs is weak and monetary transmission mechanisms are not functioning well. As for EMEs, commodity prices and World trade appears to be weak; economic growth are slowing down, capex is visibly falling in heavy industrial sectors due to already existing excess capacity. The academia as well as the business community are worried about the appropriateness of the present policies in case another recession comes, central banks will have little ammunition to deal with it. The option being talked of now is what is dubbed as “helicopter Money”. Turkey being an open economy, has been and will be effected by the developments in the global economy through trade, capital flows and expectation channels. By international standards, Turkey have a reasonable growth rate of 3 to 4 %, implying a new growth era where high growth cycle ended due to changing global financial conditions and its structural problems. Future growth performance will depend on the level of investments and savings to finance it. As her own saving is low, foreign capital flows is crucial. High inflation and interest rate are the two negatives, but it has a strong fiscal position, debt / GDP is 32.3%, the budget is almost balanced, producing primary surplus which proved it is resilience in the face of recent failed coup and the negative attitudes displayed by the rating agencies.

scholarly journals Problems of Formation of Compliance in Russia

2020 ◽  
Vol 10 (2) ◽  
pp. 31-40
Author(s):  
I. I. Ordinartsev
Keyword(s):  
Corporate Governance ◽  
Global Economy ◽  
Banking Sector ◽  
International Markets ◽  
Regulatory Framework ◽  
International Standards ◽  
Corporate Executives ◽  
Good Corporate Governance ◽  
The Usa ◽  
Domestic Companies

The integration of Russian companies in the global economy requires compliance with the requirements of good corporate governance. There are included but not limited the compliance with established anti-corruption laws, norms and rules. Such mechanisms are developing quite intensively in Russia: the legal foundations are studied, the components of the compliance system are identified. The compliance is most widely developed in the banking sector and medicine. There are required procedures implemented poorly in domestic corporations due to the lack of mandatory legislative requirements. Domestic companies operating in international markets are guided by the laws of the respective countries, mainly the USA, Great Britain and France. Unified requirements for systems and mechanisms for verifying compliance with current standards are not developed in domestic practice, which contributes to a different interpretation of the existing provisions of the Central Bank and international rules. The study goal is to identify priority areas for the compliance development in Russia, bringing the domestic regulatory framework closer to world practice. The paper shows that Russian corporations use a large number of internal regulatory documents in their practice, many of which differ mainly by their names. Direct adherence to international standards is not possible due to differences in the requirements of domestic and foreign legislation. To accelerate the adaptation of domestic companies to the world practice of good corporate governance, it is necessary to develop national formats, the structure of a compliance system and a list of basic internal paperworks. There are shown the importance and development directions of the Russian national regulatory framework. These research materials may be useful to corporate governance specialists, reactionaries, and corporate executives.

International standards of measuring and evaluating quality in tourism and hotel management

1998 ◽  
Vol 4 (2) ◽  
pp. 391-401
Author(s):  
Vidoje Vujić
Keyword(s):  
Global Economy ◽  
International Standards ◽  
Hotel Management ◽  
Business Excellence ◽  
Business Efficiency

The global economy market that is developing more and more rapidly demands from all of its subjects a particular quality and application of standards adopted by international associations for the standardization of products and services. This work scrutinizes the standards of the system of quality and business excellence. It analyzes the connections between business efficiency and evaluation of business excellence, and accentuates the processes of verification and the criteria of national awards for quality.

scholarly journals Access to Socio-Cultural Life inside Assisted Care Homes?

2016 ◽  
Vol 9 (2) ◽  
pp. 199-216
Author(s):  
Mariya Riekkinen ◽  
Kanat Kozhabek ◽  
Aizhan Zhatkanbayeva ◽  
Pekka Riekkinen
Keyword(s):  
Residential Care ◽  
Social Order ◽  
Global Economy ◽  
Elderly Care ◽  
The Elderly ◽  
The State ◽  
International Standards ◽  
Care Homes ◽  
Cultural Dimension ◽  
Cultural Inclusion

Abstract This is a comparative survey of two national legal frameworks in Finland and Kazakhstan providing the elderly in assisted care homes with an opportunity of socio-cultural inclusion. The study departs from the evolving international standards of ageing, which dictate legal obligations to provide the elderly in residential care with access to socio-cultural activities. Our analysis continues with explorations how these standards are reflected in legislation of two selected states. We deliberately selected these two jurisdictions, different in many respects, the most significant of which are the current state of the welfare system and the approach towards elderly care. The residential care in Finland is the primary responsibility of the state, a common modern solution adapted to meet the realities of the modern volatile labor market, career and self-oriented life style and hectic differentiating global economy. In Kazakhstan such care is provided by the state only for those older persons who are in difficult life situation, whereas the able relatives are legally responsible for providing care for the elderly in need of 24 / 7 assistance. Respectively Kazakhstan’s social order relies extensively on family ties. Our analysis covers the status of the elderly residing both in 24 / 7 institutional care and in the so-called serviced apartments where the elderly are not in constant care. Rather than drawing on the generalized status of dependency we keep up with the premise that the elderly are special-rights holders. This limitation leaves studying the position of other individuals under public custody out of the present research agenda. Relying extensively on legal analysis, we employ, in particular, a comparative law method and empirical studies, i.e. the interviews with the aged rights holders. After we examined how the opportunities for socio-cultural inclusion of the elderly are implemented in two selected jurisdictions with principally different welfare systems, we found that the problem in question is topical for each of the states under consideration. In light of the evolving international law standards institutional practices in both jurisdictions must be sensitive to the issue of socio-cultural inclusion. The socio-cultural dimension of the wellbeing of the elderly, especially with respect to those who are in 24 / 7 care, should be incorporated in the legal system of Kazakhstan just as it exists in the statutory law of Finland.

scholarly journals Regulatory Convergence in the Financial Periphery: How Interdependence Shapes Regulators’ Decisions

2019 ◽  
Vol 63 (4) ◽  
pp. 908-922
Author(s):  
Emily Jones ◽  
Alexandra O Zeitz
Keyword(s):  
Small Group ◽  
Global Economy ◽  
Standard Setting ◽  
International Standards ◽  
Professional Networks ◽  
Spatial Lag ◽  
The Core ◽  
Cross Border ◽  
Regulatory Decisions ◽  
Regulatory Convergence

Abstract We examine the processes by which regulations prevailing in countries at the core of the global economy spread to countries outside this small group. We show how specific cross-border relationships between banks, regulators, and investors generate regulatory interdependence that drives the diffusion of international standards from the standard-setting countries at the core of the financial system to the financial periphery. We argue that regulatory decisions in the financial periphery are shaped by the prior choices of regulators in other countries, mediated through four specific cross-border relationships associated with banking globalization. We draw on a new dataset of Basel II adoption in over ninety jurisdictions in the financial periphery. Using spatial lag models we show that regulators’ decisions over the adoption of international standards are shaped by the choices of regulators to whom they are connected through the cross-border operations of individual banks, international professional networks, and competition for capital. Our analysis underscores the value of parsing out the relevant actor-level linkages that connect countries: while international considerations shape regulatory decisions, what matters is not the extent to which countries are connected to the global economy but rather the nature of these connections.

Saudi Arabia’s efforts on combating money laundering and terrorist financing

2019 ◽  
Vol 22 (2) ◽  
pp. 233-246 ◽  
Author(s):  
Mohammed Ahmad Naheem
Keyword(s):  
Saudi Arabia ◽  
Money Laundering ◽  
Global Economy ◽  
International Standards ◽  
Content Type ◽  
Terrorist Financing ◽  
Independent Evaluation ◽  
Financing Risk ◽  
Regulatory Analysis ◽  
Combat Money Laundering

Purpose This paper aims to study Saudi Arabia’s approach to combat money laundering and terrorist financing through legislation, regulation and implementation. Saudi Arabia is an integral part of the global economy and energy market. Saudi Arabia is also an important nexus for incoming foreign investment in the region. The country has, for many years, confronted negative exposure on challenging money laundering and terrorist financing. This paper analyses Saudi Arabia’s efforts to maintain international standards of AML/CTF and distinguishes regulatory practice from the existing comments and conjecture on the country’s performance. Design/methodology/approach The paper uses a qualitative study of Saudi Arabia’s approach to combat money laundering and terrorist financing. The approach is spread across three stages of AML/CTF policy – namely, legislative, regulatory and implementation. Further, the paper also uses independent evaluation to understand Saudi Arabia’s performance in comparison to the international standards of good AML/CTF practice. Findings The paper finds Saudi Arabia in compliance with international standards of AML/CTF practice. The paper also traces strengthening of AML/CTF-related legislation and regulation in Saudi Arabia over the past two decades. The paper also finds significant evidence that suggests a biased representation of Saudi Arabia’s AML/CTF practices. The factual analysis of Saudi Arabia and its AML/CTF practice is in contradiction of the established discourse on the country’s money laundering and terrorist financing risk profile. Practical implications The paper presents a legislative and regulatory analysis of Saudi Arabia’s AML/CTF practice. It is important to understand the implications of injudicious conjecture on Saudi Arabia’s financial strategy to diversify the country’s economy (Mouawad, 2005). Commentators and observers must consider the evidence presented in this paper and reassess the discourse regarding Saudi Arabia’s adherence to international standards of AML/CTF. Originality/value Understanding Saudi Arabia’s approach to combat money laundering and terrorist financing is essential to the factors that maintain stability in the Middle East. Saudi Arabia has participated in the region with government forces to maintain stability. The paper examines the overall risk as per international standards, which can be attributed to Saudi Arabia’s AML/CTF profile.

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