The New Economy and the International Regulatory Framework

No 1030, Kiel Working Papers from Kiel Institute for the World Economy (IfW Kiel)

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 (search for similar items in EconPapers)
JEL-codes: F02 O19 O3 (search for similar items in EconPapers)
Date: 2001
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Citations: View citations in EconPapers (6)

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Persistent link: https://EconPapers.repec.org/RePEc:zbw:ifwkwp:1030

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