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Preview: Journal of International Trade Law & Policy

Journal of International Trade Law & Policy



Volume 5, Number 2, Winter 2006



Published: Wed, 14 Feb 2007 21:49:12 EST

 



Articles

Wed, 14 Feb 2007 21:49:12 EST

Volume 5, Number 2, Winter 2006



Free Trade and Semi-Closed Borders: Symmetries, Consistencies and Contradictions

Wed, 14 Feb 2007 21:49:12 EST

Volume 5, Number 2, Winter 2006
This paper examines the inter-relationship between migration of persons and international trade in goods and services. Trade and immigration policies, their effects and inter-dependence are examined from a variety of viewpoints across several disciplines, and an attempt is made to offer the outline of a synthesis. The relationship between trade and migration policies is of immediate relevance to policy-makers. Unless such policies were coordinated, lawmakers might find that the desired effects of say, immigration policy might well be undone by independently chosen trade policy and conversely.



Do Czech Listed Companies Satisfied the Requirements on Reporting under IFRS/IAS: Application on Financial Instruments

Wed, 14 Feb 2007 21:49:12 EST

Volume 5, Number 2, Winter 2006
Although in the United States derivatives have been traded since around the middle of the nineteenth century, in the Czech Republic a derivative was an unknown term until lately - or rather a term referring to someplace an unknown empire. The situation started to change roughly in the second half of nineties, when as part of macroeconomic shocks and government crisis in 1997 when interest rates increased significantly and the Czech crown devaluated from day to day. At that time companies felt first time ever how heavy impact an unexpected and not counted on change of market conditions may have on them. From 2001 to 2004 another unusual phenomenon occurred which shook the business sector; should a prophet has predicted it at the end of the nineties, he would probably be crazy. The exchange rate of dollar against crown dropped from over 40 CZK/USD to 20 CZK/USD. Companies that made contracts with their customers in dollars but with suppliers in crowns bore a great exchange rate risk and they frequently paid a lot when dollar dropped. At the moment we also have to mention world prices of oil and oil products which rocketed so high that nobody could have expected it several years ago. This paper focuses on the comparison of reporting of the derivatives using International Financial Reporting Standards (IFRS) in comparison with the Czech accounting legislature by the companies listed on the Prague Stock Exchange (PSE). Study draws the attention to check the differences in reporting of derivatives and also compares their qualitative advantages. Results of this study are based on the analysis of annual reports of the companies listed on the PSE. Any of analyzed companies didn't allow all of the requirements of IFRS on reporting of the financial derivatives.



European Competition Law and Distribution via the Internet

Wed, 14 Feb 2007 21:49:12 EST

Volume 5, Number 2, Winter 2006
This article is limited mainly to the analysis of distribution or dealership agreements, one of the most common forms of vertical agreement. A particular problem raised by the Internet is the potential risk of a priori "unfair" price competition between retailers, on account of the possibility for retailers operating through the Internet to sell at much lower prices than property based retailers. For example, if a supplier sells a product to its distributors for 100, a brick-based retailer may need to sell the product at, say, 120 in order to cover his property and staff costs and make a small profit, whereas a click-based retailer may need only to sell at 104 to make the same profit. Alternatively, the internet retailer can sell at the same price as the high street shop and make a vastly superior profit. In order to achieve "fairness" between its retailers in those different environments, can a supplier dictate the price at which its products are sold or otherwise restrict selling via the Internet?



Trans-national Competition Law and the WTO

Wed, 14 Feb 2007 21:49:12 EST

Volume 5, Number 2, Winter 2006
This article addresses certain competition-related issues that parties to a trans-national merger and acquisition (M&A) transaction must face, preferably during the strategic planning phase. The ultimate focus will be on the suitability vel non of the World Trade Organization (WTO) serving, as has been proposed by some scholars and political bodies, as a form of supranational competition law authority with respect to merger clearance. The conclusion reached is that the WTO is institutionally ill-suited for such a role but can, nonetheless, perform a useful albeit considerably more modest function as an enforcer of several purely procedural reforms suggested herein.



The Harmonization of Commercial Law in Africa: the Project Related to Telecommunications in the OHADA Harmonization Process

Wed, 14 Feb 2007 21:49:12 EST

Volume 5, Number 2, Winter 2006
The article starts from the examination of the reasons of the recent trends towards legal integration and gives a brief overview on the system to pursue the objective of legal integration. Then the major form of legal integration in the African continent - the OHADA - is taken into consideration by giving the main features of this legal harmonization process. The article further focuses on the possibility of reaching harmonization of the legal rules on telecommunications in the countries belonging to the OHADA. The paper also presents the reasons in favour of such legal harmonization, the possible obstacles that can be faced, and suggests some hints for the drafting process of the possible future uniform act. Book Review.



Size, Causes and Consequences of the Underground Economy: An International Perspective edited by Christopher Bajada and Friedrich Schneider (2005)

Wed, 14 Feb 2007 21:49:12 EST

Volume 5, Number 2, Winter 2006
Is the global underground economy disappearing as policies and laws are enacted to capture its activities on the GDP radar? The answer is no. This book shows that the global size of the underground economy has grown during the three years over which the estimates are taken (1999/2000, 2001/2002 and 2002/2003). The book comprehensively deals with tax evasion, tax morale and the other factors driving the ever expanding underground economy. This book cleverly brings together the indefinable and immeasurable sector the economy to the mainstream macroeconomic agenda.