Free Trade Today by Jagdish Bhagwati Princeton University Press, Princeton and Oxford, 2002, pp. 121. Free Trade under Fire by Douglas A. Irwin Princeton University Press, Princeton and Oxford, 2002, pp. 253.
Free Trade Today by Jagdish Bhagwati and Free Trade under Fire by Douglas A. Irwin . . . . . . . . . . . . . . . . . . . . . . . . . . . . Bijit Bora The Role of the World Trade Organization in Global Governance by Gary P. Sampson . . . . . . . . . . . . . . . . . . . . . . . . . . Miles Kahler The Political Economy of Environmental Protectionism by Achim Körber . . . . . . . . . . . . . . . . . . . . . . . . . Axel Michaelowa
Border Carbon Adjustments and Unilateral Incentives to Regulate the Climate
It is suggested that trade measures should be used to induce exporters to adopt more ambitious climate policy and reduce global emissions. However, a tariff and the exporter's emission tax are likely substitutes, which would undermine the rationale for these trade measures. This paper examines incentives to regulate the climate under border carbon adjustment (BCA), defined as an import duty of a magnitude determined by the difference in emission taxes between trade partners. Unlike a tariff, a BCA can induce the exporter to adopt a higher tax, suggesting that the BCA and tariff are not equally effective at targeting global emission levels and that the features of the border measure matter in assessing the effectiveness of trade policy in targeting global emissions.
Pharmaceutical Patents, Prices and Welfare Losses: Policy Options for India Under the WTO TRIPS Agreement
C ONCERNS on the effect of product patents on the prices of medicines have been acute in many developing countries which, up to the entry into force of the World Trade Organisation (WTO) Agreement on Trade-related Aspects of Intellectual Property Rights (TRIPS) in 1995, could and did disallow such patenting in their national patent laws. With TRIPS, all Members of (and those seeking accession to) the WTO, have to make available, with limited exceptions, both product and process patents in every sector, including pharmaceuticals. More specifically, TRIPS provides that all WTO members have to receive product patent applications for pharmaceuticals from the date of establishment of the WTO, i.e. January, 1995. It is important to note that even under the TRIPS regime, patents are to be granted only on applications received from 1995 onwards for new, patentable pharmaceutical inventions. Thus, prices of existing pharmaceuticals already on the market, or even those covered by patent