Sunday, November 28, 2021

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

Marios C. Iacovides
(Stockholm Univ. - Law) has published The Law and Economics of WTO Law: A Comparison with EU Competition Law's 'More Economic Approach' (Edward Elgar Publishing 2021). Here's the abstract:

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.