International Trade, Income Distribution and Welfare. In an era of growing international integration, the measurement of aggregate gains from globalization and their distribution is a major policy concern. While it is natural to think of policy makers as designing policy in response to the distribution of income, the fact that firms may also want to exploit the same information has received less attention. This omission is important since firms routinely utilise such information when designing p ....International Trade, Income Distribution and Welfare. In an era of growing international integration, the measurement of aggregate gains from globalization and their distribution is a major policy concern. While it is natural to think of policy makers as designing policy in response to the distribution of income, the fact that firms may also want to exploit the same information has received less attention. This omission is important since firms routinely utilise such information when designing products and setting prices, resulting in very different welfare outcomes across income groups. This project develops a framework that incorporates this aspect of firm behaviour to re-evaluate the implications of globalization, especially how it affects the distribution of gains and losses. Read moreRead less
Revisiting Australia’s preferential trade agreements and bilateral investment treaties to safeguard regulatory autonomy. This project critically evaluates Australia’s free trade agreements and bilateral investment treaties in the light of recent national and international experience. Its recommendations for systematically revising existing agreements and refining approaches to negotiating new agreements will assist in protecting Australian policy space.
International Trade, Climate Change and Economic Policy. The research project addresses the role of, and interactions between, environmental and international trade policies within the context of a global economy with increasingly open economies whose production and consumption activities generate emissions of greenhouse gases that accumulate in the atmosphere and have potentially adverse effects on the world’s climate, which then impacts the environment, production and households. The objective ....International Trade, Climate Change and Economic Policy. The research project addresses the role of, and interactions between, environmental and international trade policies within the context of a global economy with increasingly open economies whose production and consumption activities generate emissions of greenhouse gases that accumulate in the atmosphere and have potentially adverse effects on the world’s climate, which then impacts the environment, production and households. The objective is to develop better understanding of the nexus between the international economy, climate change through the environment, and international trade and environmental policies. It will achieve this objective by analyses of multi-country models of international trade, climate change and policy design.Read moreRead less
A Neo-Heckscher-Ohlin Model of Trade with Endogenous Production Patterns. The ongoing debate regarding the expected benefits of the recent trade agreement with the United States exemplifies that few aspects of international trade are well understood. Using inframarginal analysis, an approach developed by co-investigator 1, we expect to be able to advance our understanding in this field by producing what is arguably the most generalised model of trade. This will constitute an important accomplish ....A Neo-Heckscher-Ohlin Model of Trade with Endogenous Production Patterns. The ongoing debate regarding the expected benefits of the recent trade agreement with the United States exemplifies that few aspects of international trade are well understood. Using inframarginal analysis, an approach developed by co-investigator 1, we expect to be able to advance our understanding in this field by producing what is arguably the most generalised model of trade. This will constitute an important accomplishment that is likely to attract both international academic interest and international research funds to Australian research. In addition, as our model will be calibrated on the basis of our domestic production characteristics, our work will shed light on the socially optimum trade policy directions for Australia.Read moreRead less
Federalism and International Risk Management. The introduction of new quarantine disciplines with the World Trade Organisation agreements has given rise to tensions within the Australian Federation over the relationship between state and national quarantine measures. This project will review critically these developments in order to better understand and improve the process of risk assessment which is increasingly important after the Salmon case. The project will train a graduate student in ri ....Federalism and International Risk Management. The introduction of new quarantine disciplines with the World Trade Organisation agreements has given rise to tensions within the Australian Federation over the relationship between state and national quarantine measures. This project will review critically these developments in order to better understand and improve the process of risk assessment which is increasingly important after the Salmon case. The project will train a graduate student in risk assessment policy, produce several scholarly outputs and contribute to improved policy in an area of vital national importance.Read moreRead less
The World Trade Organisation and the future of the multilateral trade system. Using a qualitative methodology to investigate the views of trade policy communities in the major players in the World Trade Organisation (WTO), this project investigates how the WTO can be adapted and strengthened to meet 21st century trade policy challenges. A major outcome will be a deeper understanding of what ails the WTO and how it can be reformed.
The New Politics of Trade: Complexity, Innovation and Policy Development in the Asia Pacific Region. In Australia and the Asia Pacific region the negotiation of bilateral, regional and multilateral trade agreements has become a central element of the foreign economic policies of many countries. The outcomes of the project will have particular relevance for Australia: understanding how our trade partners determine their trade agendas, and being able to identify potential allies and obstacles to ....The New Politics of Trade: Complexity, Innovation and Policy Development in the Asia Pacific Region. In Australia and the Asia Pacific region the negotiation of bilateral, regional and multilateral trade agreements has become a central element of the foreign economic policies of many countries. The outcomes of the project will have particular relevance for Australia: understanding how our trade partners determine their trade agendas, and being able to identify potential allies and obstacles to the securing of bilateral trade agreements, is crucial for the successful negotiation and conclusion of trade agreements. This project will contribute to our understanding of how the processes of globalization are reconfiguring interactions between government, business and civil society both within and across national boundaries. Read moreRead less
Globalization, WTO and sustainable development: new challenges, opportunities and implications for Australia. Australia is benefiting greatly from opening its economy and encouraging the same in its trading partners, particularly through the World Trade Organization (WTO). A major new challenge is to ensure that the WTO continues to enhance economic welfare by responding to recent criticisms levelled at it by anti-globalization groups. This project will analyse those groups' claims about the eff ....Globalization, WTO and sustainable development: new challenges, opportunities and implications for Australia. Australia is benefiting greatly from opening its economy and encouraging the same in its trading partners, particularly through the World Trade Organization (WTO). A major new challenge is to ensure that the WTO continues to enhance economic welfare by responding to recent criticisms levelled at it by anti-globalization groups. This project will analyse those groups' claims about the effects of trade and investment policy reforms, and of WTO rules and other contributors to globalization, by going beyond the traditional economic effects to examine effects on income distribution, poverty alleviation, the environment, labour, and food safety and security.Read moreRead less
The fundamental importance of foreign direct investment to Australia in the 21st century: Reforming treaty and dispute resolution practice. This project will evaluate the economic and legal risks associated with the Australian Government’s current policy on investor-state dispute settlement through multidisciplinary research, namely econometric modeling, empirical research through stakeholder surveys and interviews, as well as critical analysis of case law, treaties and regulatory approaches. Th ....The fundamental importance of foreign direct investment to Australia in the 21st century: Reforming treaty and dispute resolution practice. This project will evaluate the economic and legal risks associated with the Australian Government’s current policy on investor-state dispute settlement through multidisciplinary research, namely econometric modeling, empirical research through stakeholder surveys and interviews, as well as critical analysis of case law, treaties and regulatory approaches. The aim of this project is to identify optimal methods of investor-state dispute prevention, avoidance and resolution that efficiently cater to inbound and outbound investors as well as Australia as a whole. The goal is to promote a positive climate for investment inflows and outflows, while maintaining Australia's ability to take sovereign decisions on matters of public policy.Read moreRead less
APEC, the WTO and bilateral free trade agreements (FTAs): which way forward for Japan's agricultural trade liberalisation? Japan is an important market for Australian farm products, but high import barriers prevent the full potential of this market from being realised. Japan has consistently presented stiff opposition to agricultural trade liberalisation - in APEC, at the WTO, and in bilateral free trade negotiations. The project, by identifying which negotiating arena is most likely to deliver ....APEC, the WTO and bilateral free trade agreements (FTAs): which way forward for Japan's agricultural trade liberalisation? Japan is an important market for Australian farm products, but high import barriers prevent the full potential of this market from being realised. Japan has consistently presented stiff opposition to agricultural trade liberalisation - in APEC, at the WTO, and in bilateral free trade negotiations. The project, by identifying which negotiating arena is most likely to deliver an agreement to liberalise agricultural trade, will contribute to the advancement of Australia's economic and trading interests. Improving access to the Japanese market for agricultural products in the context of a broader trade agreement will generate substantial dividends for Australian farmers as well as tangible benefits for the wider community.Read moreRead less