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The Law and Economics of WTO Law: A Comparison with EU Competition Law's 'More Economic Approach'

The Law and Economics of WTO Law: A Comparison with EU Competition Law's 'More Economic Approach'

Author: Marios C. Iacovides
Publisher: Edward Elgar Publishing
ISBN: 9781800375567
Published In: October 2021
Format: Hardback
Jurisdiction: U.K. ? Disclaimer:
Countri(es) stated herein are used as reference only

List Price: HKD 1,599.00

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Description
Contents

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This insightful book proposes taking inspiration from EU competition law structures to inform and implement a more economic approach in WTO law. The book provides a detailed account of the two legal systems regarding likeness, harm, and remedies, in order to draw comparisons. Taking a unique approach in synthesizing law and economics with comparative law methods, it considers WTO law holistically to propose a legal transplant from EU competition law to WTO law.

Drawing from EU competition law, the book generates comparative ideas that can improve the understanding of fundamental WTO concepts such as likeness, less favourable treatment, discrimination, trade harm, trade effects, and the level of permissible countermeasures. Based on this analysis, the author offers normative suggestions to improve the efficiency of WTO law through correct implementation of a more economic approach. As part of this approach, the author recommends an increased capacity for all key actors involved in WTO dispute settlement.

Exploring key WTO concepts and employing law and economics benchmarks to make comparisons, this thought-provoking book will be of benefit to scholars and students of law and economics, global transnational law and WTO law in particular. It will also prove valuable for practitioners and policy makers involved in international trade law and dispute settlement.

PART I. PREMISE, METHOD, AND STRUCTURE

1. Complexity in international trade and WTO law’s legitimacy crisis

PART II. DEFINING THE RELEVANT MARKET AND ‘LIKENESS’

2. Relevant market definition in EU competition law

3. Relevant market definition in WTO law

4. Relevant market in EU competition law and WTO law

PART III. PROVING INFRINGEMENTS: THEORIES OF HARM AND EFFECT

5. Theories of harm and the effects-based approach in EU competition law

6. Infringements in WTO law, theories of harm, and effects

7. Theories of harm and effects in EU competition law and WTO law

PART IV. QUANTIFYING HARM: REMEDIES AND SANCTIONS

8. Quantification of remedies and sanctions in EU competition law