Over the last ten years, organisations such as the IMF have launched several initiatives to change market practice with respect to sovereign bond contract drafting to ease restructuring after defaults. The first of these, the universal adoption of collective action clauses, was embraced by the...

The European central bank is a bank of banks but not a bank of states. This reduces the capabilities of member states to finance deficits. The role of the central bank to cope with the debt crises is institutionally more limited than in most other Western countries. The European Stability...

This Discussion Paper identifies the rules on labor provided for in the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), the Regional Comprehensive Economic Partnership (RCEP) and the African Continental Free Trade Area (AfCFTA). Furthermore, the work compares the...

This Discussion Paper identifies the rules on environment protection provided for in the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), the Regional Comprehensive Economic Partnership (RCEP) and the African Continental Free Trade Area (AfCFTA). Furthermore, the...

The increasing volume of digital trades inevitably generates more disputes. An efficient online dispute resolution mechanism is an important digital trade promotion policy measure, as it ensures the cyber order and strengthens online users' confidence. The immediate implication is the...

This Discussion Paper identifies the rules on environment protection provided for in the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), the Regional Comprehensive Economic Partnership (RCEP) and the African Continental Free Trade Area (AfCFTA). Furthermore, the...

The increasing volume of digital trades inevitably generates more disputes. An efficient online dispute resolution mechanism is an important digital trade promotion policy measure, as it ensures the cyber order and strengthens online users' confidence. The immediate implication is the...

This Discussion Paper identifies the rules on labor provided for in the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), the Regional Comprehensive Economic Partnership (RCEP) and the African Continental Free Trade Area (AfCFTA). Furthermore, the work compares the...

Banking regulation invites banks to gamble when buying government bonds that regulators consider to be risk-free. The adverse effects on financial stability are known. In turn, this study shows that governments have an incentive to use banking regulation in order to enhance their fiscal...

This paper analyzes whether nation-state governments can increase their credibility by becoming members of international organizations. Credibility is an important asset because it determines the real interest rate and is expected to have an important impact on investment and growth. It is...