The way in which international trade in crude oil is conducted has changed drastically since the beginning of 1979. Who has access to crude oil in producing countries, in what quantity, at what prices, and for how long is in question. Jochen Mohnfeld analyses, recent trends and future...

The General Agreement on Trade in Services (GATS) is far broader in policy coverage than conventional trade agreements for goods. At the same time, governments are offered more flexibility to tailor their obligations to sector- or country-specific needs. As a result, commitments vary widely...

The volatility of financial markets has attracted a lot of attention in recent years. However, while particular episodes, such as the bond market turbulence in 1994 and considerable exchange rate movements in 1995, may give the impression that markets have become more volatile, there appears to...