This paper assesses the quantitative importance of electronic commerce in trade and tariff revenue, in light of the WTO decision on 'duty-free cyberspace'. Electronic commerce is likely to boost international trade in software, digitizable media products (music, books) and many services sectors...

Two aspects of global imbalances - undervalued exchange rates and sovereign wealth funds - require a multilateral response. For reasons of inadequate leverage and eroding legitimacy, the International Monetary Fund has not been effective in dealing with undervalued exchange rates. This paper...