Kiel Working Papers, Kiel Institute for World Economics
No 1030:
The New Economy and the International Regulatory Framework
Daniel Piazolo
Abstract: The rapid diffusion of the internet and electronic
commerce changes the way business and international trade take place. The
new economy poses new challenges to the international regulatory framework,
since small distortions due to differing sets of regulations and taxation
between countries might grow to non-negligible dimensions. This paper
examines the necessary reforms of the multilateral framework concerning
standards, policy coordination and taxation and stresses that the new
economy reinforces the need for consistent, transparent,
non-discriminatory, simple and enforceable rules. Furthermore, strategies
to overcome the digital divide between countries are set out.
Keywords: New Economy, Policy Coordination, Tax Distortion, Trade Diversion, WTO, Developing Countries.; (follow links to similar papers)
JEL-Codes: F02; O19; O3; (follow links to similar papers)
41 pages, March 2001
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