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The New Economy and the International Regulatory Framework

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  • Piazolo, Daniel

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.

Suggested Citation

  • Piazolo, Daniel, 2001. "The New Economy and the International Regulatory Framework," Kiel Working Papers 1030, Kiel Institute for the World Economy (IfW Kiel).
    • Handle: RePEc:zbw:ifwkwp:1030
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    References listed on IDEAS

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    1. Robert J. Gordon, 2000. "Does the "New Economy" Measure Up to the Great Inventions of the Past?," Journal of Economic Perspectives, American Economic Association, vol. 14(4), pages 49-74, Fall.
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    5. Krancke, Jan, 2000. "Marktordnung und Barrieren im grenzüberschreitenden Handel mit Kommunikationsdienstleistungen: Dienstleistungen der Informationstechnologie," Kiel Working Papers 1008, Kiel Institute for the World Economy (IfW Kiel).
    6. Catherine L. Mann & Sue E. Eckert, 2000. "Global Electronic Commerce: A Policy Primer," Peterson Institute Press: All Books, Peterson Institute for International Economics, number 318, January.
    7. Arvind Panagariya, 2000. "E‐Commerce, WTO and Developing Countries," The World Economy, Wiley Blackwell, vol. 23(8), pages 959-978, August.
    8. Krancke, Jan, 2000. "Marktordnung und Barrieren im grenzüberschreitenden Handel mit Telekommunikationsdienstleistungen," Kiel Working Papers 1010, Kiel Institute for the World Economy (IfW Kiel).
    9. Siebert, Horst, 2000. "The new economy - what is really new?," Kiel Working Papers 1000, Kiel Institute for the World Economy (IfW Kiel).
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    12. Goolsbee, Austan & Zittrain, Jonathan, 1999. "Evaluating the Costs and Benefits of Taxing Internet Commerce," National Tax Journal, National Tax Association, vol. 52(n. 3), pages 413-28, September.
    13. Langhammer, Rolf J., 2000. "Developing countries as exporters of services: looking beyond success episodes," Kiel Working Papers 992, Kiel Institute for the World Economy (IfW Kiel).
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    Cited by:

    1. Haydar Akyazi & Seyfettin Artan, 2006. "Reflections of the New Economy on the Monetary Policy and Central Banking," Papers of the Annual IUE-SUNY Cortland Conference in Economics, in: Oguz Esen & Ayla Ogus (ed.), Proceedings of the Conference on Human and Economic Resources, pages 373-387, Izmir University of Economics.
    2. Klodt, Henning, 2001. "The Essence of the New Economy," Kiel Discussion Papers 375, Kiel Institute for the World Economy (IfW Kiel).
    3. Hans-Günther Vieweg & Carsten Dreher & Herbert Hofmann & Steffen Kinkel & Gunter Lay & Ulrich Schmoch, 2002. "Mechanical engineering in the age of globalisation and the New Economy," ifo Beiträge zur Wirtschaftsforschung, ifo Institute - Leibniz Institute for Economic Research at the University of Munich, number 9.
    4. Daniel Belingher & Cantemir Adrian Calin, 2011. "The Behaviour Of The Digital Consumer," Annals - Economy Series, Constantin Brancusi University, Faculty of Economics, vol. 2, pages 26-33, May.

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    More about this item

    Keywords

    New Economy; Policy Coordination; Tax Distortion; Trade Diversion; WTO; Developing Countries;
    All these keywords.

    JEL classification:

    • O3 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights
    • O19 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - International Linkages to Development; Role of International Organizations
    • F02 - International Economics - - General - - - International Economic Order and Integration

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