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E-TISNET INFORMATION SOURCES ISSUE  9/2007

September 2007

E-TISNET Monthly Information Sources offer you access to the latest trade and investment-related publications as well as websites relevant for the Asia-Pacific region. For enquiries, subscriptions and/or cancellation thereof, please contact us at
escap-tisnet@un.org.

This issue of e-TISNET can be also accessed from ESCAP's website, at
http://www.unescap.org/tid/latestnews.asp

Need more information?....Visit the other information products of the ESCAP Trade Information Service at http://www.unescap.org/tid/ti.asp !



A. TRADE AND INVESTMENT PUBLICATIONS

Capital regulation and banks’ financial decisions. July 2007. Available online (PDF-Format, 46 pages, 420 KB). Working Paper No 232, Bank of International Settlements (BIS).
This paper develops a stochastic dynamic model to examine the impact of capital regulation on banks' financial decisions. In equilibrium, lending decisions, capital buffer and the probability of bank failure are endogenously determined. Compared to a flat-rate capital rule, a risk-sensitive capital standard causes the capital requirement to be much higher for small (and riskier) banks and much lower for large (and less risky) banks. Nevertheless, changes in actual capital holdings are less pronounced due to the offsetting effect of capital buffers. Moreover, the non-binding capital constraint in equilibrium implies that banks adopt an active portfolio strategy and hence the counter-cyclical movement of risk-based capital requirements does not necessarily lead to a reinforcement of the credit cycle. In fact, the results from the calibrated model show that the impact on cyclical lending behavior differs substantially across banks. Lastly, the analysis suggests that the adoption of a more risk-sensitive capital regime can be welfare-improving from a regulator's perspective, in that it causes less distortion in loan decisions and achieves a better balance between safety and efficiency.
Accessed on 1 August < http://www.bis.org/publ/work232.pdf >

Climate Change, Competitiveness and Trade. June 2007. Available online (PDF-Format, 41 pages, 204 KB). Chatham House Report.
From the outset the Kyoto Protocol and the United Nations Framework Convention on Climate Change have had to contend with perceived tension between effective action to slow climate change and maintenance of competitiveness. This report explores the nature of the concerns over competitiveness, trying to dissect them in a meaningful way and assess the need for concern. It employs a definition of competitiveness that applies as between firms, as opposed to any general notion of the competitiveness of nations. Two types of competitiveness concerns are identified and addressed. The first – the ‘non-Party problem’ – is that implementation may create an uneven playing field, with firms and sectors from non-Parties enjoying an unfair advantage because they are not subject to carbon constraints. The second – the ‘implementation problem’ – is that Parties may create unfair competitive advantages for domestic industry by the manner in which they implement their Kyoto commitments.
Accessed on 1 August < http://www.iisd.org/pdf/2007/climate_trade_competitive.pdf >

Democracy and the GATT/WTO Accession Duration. April 2007. Available online (PDF-Format, 51 pages, 270 KB). School of Economics and Finance, University of Hong Kong; and China Center for Economic Research, Peking University.
Recent studies have suggested that accession to GATT/WTO is a complex, difficult, and lengthy process, and such process has lengthened in recent years. Using survival analysis, the authors find that the applicant's political regime, together with several other variables, has a significant impact on the time it takes to accede to GATT/WTO. In particular, the authors find that the accession duration is likely shorter for an applicant whose political regime is more democratic, whose economy is larger, whose economy grows faster, who initiated its accession before 1995, who adopts a fixed exchange rate regime, who is not a least developed country; and that it increases with the size of GATT/WTO.
Accessed on 31 July < http://ssrn.com/abstract=982032 >

Development and Intellectual Property under the EPA Negotiations. March 2007. Available online (PDF-Format, 8 pages, 3.2 MB). Policy Brief No. 6, South Centre.
This paper argues that the negotiations for Economic Partnership Agreements (EPA) between the European Union (EU) and the African Caribbean and Pacific (ACP) countries are likely to result in additional layers of intellectual property right protection, at least in the case of the agreement with Caribbean ACP States. They review the ongoing negotiations and various draft texts and papers and find an inadequate focus on the need for technological development, promotion of public health, protection of genetic resources and traditional knowledge as well as for ensuring access to knowledge. The authors suggest that considering the level of economic development in ACP countries, the negotiations should not include IP rights as part of the partnership agreement. Instead they should focus on industrial and technological development and aim to address the longstanding issues on various EU policies that have impeded participation of the ACP countries in the value-chain of products, protection of biodiversity and traditional knowledge and the use of TRIPS flexibilities.
Accessed on 1 August
< http://www.southcentre.org/info/policybrief/06Dev_IP_EPA_Negotiations.pdf >

Global Imbalances: Time for Action. March 2007. Available online (PDF-Format, 8 pages, 225 KB). Policy Brief No. PB07-4, Peterson Institute.
This policy brief argues that one of the principal dangers currently facing the world economy arises from the large and unsustainable imbalances in current account positions. Some observers argue that these imbalances will unwind gradually and non-disruptively, while others emphasize the risks of a sudden change of sentiment in financial markets that could result in an abrupt and damaging adjustment. A priority for policymakers should be to reduce the risks of a crisis, which could produce a world recession and disruptions to the global trading system. For that, the global economy requires official sponsorship of a credible, comprehensive adjustment programme. This policy brief outlines such a programme. It presents why the current situation is unsustainable and that adjustment must take place and will require significant movements in exchange rates. It argues that adjustment induced by policy actions is more likely to be orderly than one initiated by financial markets. The authors view the current stalemate regarding policy actions as dangerous, as financial-market participants are likely to change their minds at some stage about the sustainability of imbalances unless they see that the main players are able to agree on the direction of desirable policy changes. The paper also presents estimates of the exchange rate implications of global current account adjustment from a variety of models and describes the policy implications the authors drew from these results and workshop discussions.
Accessed on 31 July < http://www.iie.com/publications/pb/pb07-4.pdf >

Inclusive Growth toward a Prosperous Asia: Policy Implications. July 2007. Available online (PDF-Format, 43 pages, 772 KB). ERD Working Paper No. 97, Economics and Research Department, Asian Development Bank (ADB).
Developing Asia is embracing inclusive growth as a key development goal in response to rising inequalities and increasing concern that these could undermine the very sustainability of Asia’s growth. This paper argues that inclusive growth emphasizes creation of and equal access to opportunities; and that unequal opportunities arise from social exclusion associated with market, institutional and policy failures. A development strategy anchored on inclusive growth is outlined, consisting of two mutually reinforcing strategic pillars of high and sustainable growth to create economic opportunities, and social inclusion to ensure equal access to opportunities. This will enable developing Asia to accomplish the agenda of eradicating extreme poverty and, at the same time, address the development challenge brought about by rising inequalities.
Accessed on 31 July < http://www.adb.org/Documents/ERD/Working_Papers/WP097.pdf >

OECD Agricultural Trade Reforms. Impact on India’s Prices and Producers Welfare. July 2007. Available online (PDF-Format, 51 pages, 495 KB). Working Paper No. 195, Indian Council for Research on International Economic Relations (ICRIER).
This paper argues that given the focus on global agriculture in the Doha Round, it is timely to look into the impact of global trade liberalization on prices, production of major crops and farmers’ welfare in India. Domestic price support and export subsidies by the United States and Europe have kept the world prices of agricultural products below the cost of its production. The paper examines the impact of prevailing subsidies and of import trade tariffs in India and finds that even if product specific subsidies are reduced or eliminated, the price transmission mechanism is so poor that it will be difficult to pass it on to the farmers. As part of the study, simulations to assess the net impact of trade liberalization have been carried out, i.e. abolition of subsidies and lowering of import tariff rates. The paper also tries to emphasize the impact of trade liberalization on domestic prices and how these changes in agricultural prices may affect the poor farmer.
Accessed on 1 August < http://www.icrier.org/pdf/WorkingPaperNo195.pdf >

Ten Years After: Financial Crisis Redux or Constructive Regional Financial and Monetary Cooperation? June 2007. Available online (PDF Format, 27 pages, 380 KB). Philippine Institute for Development Studies (PIDS).
In response to the 1997 East Asian financial crisis many schemes were initiated to reform the international financial architecture. The proposed reforms had two wide-ranging objectives: (i) to prevent currency and banking crises and better manage them when they occur; and (ii) to support adequate provision of net private and public flows to developing countries, particularly low-income ones. Unfortunately the progress has been uneven, asymmetric and patchy. This is largely because the structural problems related to the supply side of capital flows have not been addressed, particularly the unipolar character of the global financial system. As a result, many East Asian economies face many of the same conditions that prevailed immediately prior to the crisis: huge capital inflows heavily tilted toward hot money, rapid appreciation of currencies in real terms, surging stock prices, and little policy space to implement countercyclical measures in the event of a crisis. The difference is that many countries have accumulated a large amount of foreign exchange reserves but at the expense of domestic investment and economic growth. In order to resolve the problems that are posed by volatile capital flows it is important to accelerate East Asian cooperation and integration, particularly with regard to the objective of using regional savings for regional infrastructure projects
Accessed on 1 August < http://dirp4.pids.gov.ph/ris/dps/pidsdps0705.pdf >

The EU-ACP Economic Partnership Agreements. What Impact on Development? June 2007. Available online (PDF-Format, 29 pages, 780 KB). Discussion Paper No. 224, Institute for International Integration Studies (IIIS).
The European Union is currently concluding negotiations for Economic Partnership Agreements with 77 developing countries in the African, Caribbean and Pacific (ACP) regions. The dilemma at the heart of those negotiations is how to reconcile the goal of poverty reduction and development with the substantial trade liberalization involved. ACP counties have become marginalized in world trade over the past three decades while at the same time they have adopted outward–oriented trade policies and their economies have become increasingly open. The paper argues that further trade liberalization is unlikely to contribute much to development in any major way. Instead ACP countries should focus on domestic growth strategies. Each ACP region should identify its own priority growth sectors and adapt its own specific growth.
Accessed on 31 July < http://www.tcd.ie/iiis/documents/discussion/pdfs/iiisdp224.pdf >

Trade Facilitation in Selected Landlocked Countries in Asia. July 2007. Available online (PDF-Format, 164 pages, 4.8 MB). Studies in Trade and Investment Nr. 58, United Nations Economic and Social Commission for Asia and the Pacific (ESCAP).
Over the past two decades, many countries in the ESCAP region underwent extensive political and economic transformations as borders opened and states joined the world economy. The newly independent states in the Caucasus and Central Asia in particular, have experienced major structural changes with the transformation from a centrally-planned to a market-oriented economic system. With no direct access to the sea and to the world’s major markets, transformation and economic development have been particularly challenging for landlocked countries. These countries have put great effort into liberalizing their trade regimes and upgrading physical infrastructure. Despite these efforts, market access for landlocked countries is still hampered by bottlenecks to trade, such as cumbersome and non-transparent trade and customs procedures. Implementation of trade facilitation reform programmes and measures is therefore becoming an increasingly important tool for establishing a more transparent, consistent and predictable environment for international trade in landlocked countries. This study aims at increasing the understanding of the specific trade facilitation issues and conditions in Armenia, Azerbaijan, Kazakhstan, Kyrgyzstan, Mongolia, Tajikistan and Uzbekistan, countries in which ESCAP undertook advisory missions during the period of 2003 - 2006. It is hoped that this study will build upon the accomplishments of the advisory missions and serve Governments and traders alike as a background document supporting domestic trade facilitation reforms.
Accessed on 23 July < http://www.unescap.org/tid/publication/tipub2437.pdf >



B. SELECTED WORLDWIDE WEBSITES

http://acp-eu-trade.org
ACP-EU Trade Website
E-mail: acpeutrade@ecdpm.org
The ACP-EU trade website is a non-partisan sourcing and knowledge sharing initiative. It contains a wide range of information and analysis relevant to trade between the EU and the ACP Group, the group of 77 countries from the African, Caribbean and Pacific region. Materials on the website include a library database of more than 2,000 documents; more than 150 links to key ACP-EU websites; weekly news items, newsletters and monthly news digests on ACP-EU trade agenda; trade negotiations insights; a public database of trade and development experts; events calendar; dossiers pages; a glossary and more.

http://www.asean-tourism.com/
ASEAN tourism
ASEAN tourism is a gateway to tourism-related information on the countries of the Association of Southeast Asian Nations which consists of Brunei Darussalam, Cambodia, Indonesia, Lao People’s Democratic Republic, Malaysia, Myanmar, Philippines, Singapore, Thailand and Viet Nam. It provides country information, links to relevant literaure, travel updates, maps, photos, contact addresses to all national tourist authorities, etc.

http://devdata.worldbank.org/atlas-mdg/
Building a Better World Website
The Building a Better World website is an online atlas of the Millennium Development Goals, which provide a framework for development planning for countries around the world, and time-bound targets by which progress can be measured. The website was developed by the World Bank in collaboration with Mapping Worlds. It features specific information, including color-coded maps for all goals and targets and provides detailed explanations and background information on the Millennium Development Goals.

http://www.korea-dpr.com/business/
Business opportunities in Korea
Business opportunities in Korea is the official business webpage of the Democratic People’s Republic of Korea. It provides information about import and export products, types of services exported as well as joint venture possibilities and logistical matters. It also provides information on how to participate in business delegations to Pyongyang, organized by the Korean Friendship Association (KFA), in collaboration with the Committee for Cultural Relations with Foreign Countries of the Government of the Democratic People’s Republic of Korea.

http://www.communityforestryinternational.org/cambodia/Index.asp
Community Forestry International in Cambodia (CFI)
E-mail: cfioffice@cfi-cambodia.org.kh
Community Forestry International seeks to protect Cambodia’s threatened forests and watersheds and to address rural poverty by facilitating a national transition to community-based natural resource management. Including local communities in the management of natural resources leads to increased livelihood security and poverty alleviation and ultimately encourages greater sustainable development. The website provides background information on community forestry and the situation of forestry in Cambodia, information about the various programmes of CFI in Cambodia as well as further info, including links, contact addresses, donor information, etc.

http://www.epinetwork.org/
Economic Policy Institutes Network (EPIN)
The Economic Policy Institutes Network was initiated by the UNDP Regional Bureau for Europe and CIS in 2004 to supports the development of economic policy institutes (EPI) in European and CIS countries in transition, with particular emphasis on low and middle income countries. The principal goal of the initiative is to develop the capacity of economic policy institutes in the target countries so as to provide these countries with independent, sophisticated voices in policy by establishing a cooperative network; organizing targeted training on substantive and administrative technical issues as well as professional exchanges; facilitating joint research amongst network member institutes and facilitating networking by means of conferences, joint meetings, with particular stress on electronic information and knowledge exchange.

http://www.itpfindia.org
Information Technology Professionals’ Forum India (ITPF)
E-mail: blr@itpfindia.org
The Information Technology Professionals’ Forum-India was established in June 2003 as a global organization dedicated to serving Indian professionals in the information technology-related industries. ITPF is a knowledge forum for a community of professionals that aims to be the the voice of IT professionals, to enrich, empower and promote their interests and to contribute to the overall growth of the ICT sector. It works to foster networking and cooperation among professionals; render assistance and guidance to IT professionals; stimulate thought and diffuse knowledge so as to develop information technology and science expertise through research, lectures, conferences, seminars, workshops, symposiums etc; and to secure suitable legislative enactments for improving the conditions of IT professionals and to ensure the proper enforcement of legislation for their protection.

http://www.upov.int/
International Union for the Protection of New Varieties of Plants (UPOV)
E-mail: upov.mail@upov.int
The International Union for the Protection of New Varieties of Plants is an intergovernmental organization established by the International Convention for the Protection of New Varieties of Plants. The purpose of the UPOV Convention is to ensure that the members of the Union acknowledge the achievements of breeders of new varieties of plants, by granting to them an intellectual property right, on the basis of a set of clearly defined principles. To be eligible for protection, varieties have to be (i) distinct from existing, commonly known varieties, (ii) sufficiently uniform, (iii) stable and (iv) new in the sense that they must not have been commercialized prior to certain dates established by reference to the date of the application for protection. The main activities of UPOV are concerned with promoting international harmonization and cooperation, mainly between its members, and with assisting countries and certain organizations in the introduction of the UPOV system of plant variety protection.

http://www.ipim.gov.mo
Macao Trade and Investment Promotion Institute (IPIM)
E-mail: ipim@ipim.gov.mo
The Macao Trade and Investment Promotion Institute is a non-profit organization, which is designated to promote the trade and investment activities of the territory. IPIM's main responsibilities are to introduce potential investors to the local investment environment and opportunities and to provide a "one-stop service"; to provide trade, economic, statistical, general information and market analysis to assist clients in exploring the market and developing their business; to organize exhibitions and other promotional events locally; to organize local economic delegations to search for business opportunities and welcome visits by delegations to Macao, China; and to evaluate applications for local residence by investors, company managers and professionals. The website offers a wealth of information, including business directories, trade opportunities, publications, statistics, links, and so on.

http://www.kish.ir
Kish Free Zone Organization
E-mail: info@kish.ir
The Kish Free Zone Organization is in charge of handling Kish’s infrastructure affairs, development and economic growth, creating job opportunities, attracting local and foreign investors, regulating the good and labor market, maintaining presence in the global markets for the purpose of promoting non-oil exports, preparing the preliminaries for the manufacture of industrial goods, establishing convertible industries and ultimately utilizing the Island’s tourist potentials. The island of Kish is located off the southern coasts of the mainland of the Islamic Republic of Iran and is a free zone, granting investors privileges such as 15 years of tax exemption. The websites provides more info on the island and on the free zone privileges, as well as maps, news and online services such as access to investment application forms.



Information is taken mainly from secondary sources and UNESCAP accepts no responsibility for its accuracy. Mention of any companies and their products does not imply endorsement by the United Nations.

The designations employed and the presentation of the material in this publication do not imply the expression of any opinion whatsoever on the part of the Secretariat of the United Nations concerning the legal status of any country, territory, city or area, or of its authorities, or concerning the delimitation of its frontiers or boundaries.



©2007 United Nations


Last updated: 31 August 2007
 

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