Abstract Our study illuminates the impact of international trade on environmental quality in lower-middle-income countries by using CO2 emission as the proxy for environmental degradation. Using the Pooled Mean Group estimation along with validity tests, the results show that in the long run, CO2 emission is affected by merchandise export, merchandise import, FDI, GDP per capita, and renewable energy consumption. The impact of trade on CO2 emission is mixed because our findings show that merchandise export and import have opposite effects. In addition, our results reveal that Environmental Kuznets Curve exists in the long run with N-sharped. The increase in GDP per capita leads to the raise of CO2 emission at first, but later comes the decrease and then increase. The paper has relevant implications for law makers.

Abstract We compare the influence of legal and political factors on the corporate ownership structure of Chinese listed companies. We find that: (1) the improvement of corporate law quality and the less government intervene on firms lead to a decrease in corporate ownership concentration; (2) compared with the provincial corporate law performance, the effects of the provincial government intervention on the concentration of ownership is relatively significant; (3) the impact of government intervention on corporate ownership structure of state-owned firms are larger than that of private firms, whereas the impact of provincial corporate law implementation performance is more significant in samples of private firms. The policy implications are that most China’s SOE reform measures have yet not cure the crux. The success of the reform may primarily depends on the re-examination and restructure of the political institutions.

Abstract Most economic theories on patent pools focus exclusively on patent owners’ licensing practices in explaining why patent owners voluntarily form a patent pool. Such an approach ignores the “property” root of patents. Judge Posner emphasized the importance of using economic theories on physical properties to analyze intellectual properties. Led by this spirit, I applied the evolutionary theory of property rights, formulated by Chicago School economist Harold Demsetz, to analyze the formation of patent pools. Demsetz’s theory posits that a transition in property rights structures results from interacting parties’ efforts to maximize utilities in face of changes in external factors that bear on the parties’ benefit-cost calculation. Later studies by various property rights economists have found that the existence of externalities, the cost of enforcing the right to exclude, and the economy of scale can respectively change the benefit-cost calculation of property owners/users, and drive property rights structures towards either privatization or deprivatization. I argued that the formation of patent pools can be understood as deprivatization of patents – a transition from a private property system to a commons system – in response to three phenomena in the patent system: complementary patents, high costs of enforcing patent rights, and excessive patent fragmentation. When transaction costs of patent pooling are outweighed by its benefits, we can expect to see more patent pools being established.

Abstract The purpose of this paper is to examine the characteristics of the tax tribunal, and the functions of its dispute resolution decisions according to a law and economics perspective. We show that the tax agency can use the tax tribunal as a screening device. That is, the tax agency can inform taxpayers of income tax that minimizes their expected costs, and then can screen taxpayers based on whether they appeal to the tax tribunal.

Abstract Emerging and developing countries around the world are playing an increasingly important role in the global economy. They move up in the global value chain very quickly. However, these countries constantly facing a plethora of challenges covering a wide range of issues. This paper addresses some key challenges confronting Vietnam economy which potentially deteriorate its economic growth prospects. These include economic slowdown, credit booming, the rise of protectionism around the world, and risk from greater opening of the domestic markets. Addressing these challenges are important for Vietnam to maintain its comparative advantage and foundation for economic growth.

Abstract Since the way of doing corruption has evolved over time, there are likely possibilities for corporate entities to be involved in corruption activities and infringe the anti-corruption law. This paper endeavors to find justifications to criminalizing corporate entiti(es) from a law and economics perspective. This paper argues that it is ultimately efficient for a party not to be held criminally liable for another party’s culpable act, and thus it concludes that individual vicarious criminal liability is inefficient. Unlike individual vicarious liability, corporate vicarious criminal liability might be efficient. This paper will also explain how and why the implementation of the corporate criminal liability should be classified differently with the liability of corporate officers, particularly under the regime anti-corruption law, so that the distinction between the personal acts of a high ranking corporate officers and the act of corruption involving the corporation itself can be unequivocally distinguished. This paper also critically evaluates Indonesia’s regulation and formulation of corporate entity criminal liability which pursuant to the anti-corruption law and to further examine whether Indonesia’s anti-corruption law has achieved its purpose.

Abstract The implementation of the bankruptcy law of China deviates much from the expectation of the legislature. This article draws on political economy analysis, especially the interest group approach, to provide an explanation of the causes of the deviation and predict what the future of the modification and reform of the law might be. This article also describes the China context in using public choice theory to explain legal issues.

Abstract Today the world economy is immeasurably more complex, multi-faceted, and integrated than it was in the last quarter of 20th century. New financial procedures and interests have multiplied in the current trade and investment matrix. Developing countries are now rightfully taking a much greater share in global production, trade and investment. However, their level of participation in the dispute settlement system is an important aspect of academic inquiry. There are several reasons for inadequate participation of developing countries but lack of trust is at the heart of the entire debate. Division amongst the developing countries placed them in more vulnerable position. This paper focuses on reasons for poor participation of some of the developing countries in the dispute settlement understanding (DSU), problems of developing and least developed countries and points out some measures for bringing required equilibrium in the dispute settlement system so that it could be made just, fair and equitable in near future.

The Taiwanese government has long used and endorsed aboriginal culture (e.g., in the form of theme parks, cartoons, music, and films) to grow local industries and attract tourism. By showcasing indigenous culture on the world stage, Taiwan's entertainment and tourism industries have developed in mainstream society a sense of pride in its living native treasures. The conscious effort to diversify what it means to be Taiwanese has resulted, somewhat ironically, in a sort of communal identity. Accordingly, some scholars believe that indigenous culture should belong to the public domain. Indeed, the injection of aboriginal culture into the mainstream has had positive and negative effects. On the one hand, the entry of indigenous culture into the mainstream has provided formerly overlooked minority groups with new resources and societal leverage, as well as educated the Taiwanese people about diversity. On the other hand, the capitalization of traditional culture by non-aboriginal entities can be detrimental to aboriginal self-sufficiency and preservation efforts. This paper examines the different levels of protection of traditional culture for aboriginal tribes. Part II discusses the legislations currently in place for the benefits of the aborigines, and the recent controversy surrounding government procedures in defining the legal statuses of the aboriginal tribes. Part III looks at the efficacy of domestic legislation vis-à-vis international treaties. Part IV describes the role of intellectual property rights in a private settlement between a film production company and the Seediq tribe.

Abstract Data crosses national borders routinely. And any regulation on data privacy by an individual national authority could easily have ramifications beyond its jurisdictional boundary. This article lays out some of the relevant issues and provides an argument for international coordination and harmonization. As technology advances, various techniques are being employed and will continue to be employed to gather information on users. At the same time, with the information thus gathered, companies engage in highly sophisticated data analytics. In response to these developments, several national and regional authorities have put forward major reform proposals and discussions are under way. The current framework of addressing data privacy issues at a country level or at a regional level, however, has a risk of splintering the overall regulatory and enforcement regime at the global level. This article examines economic incentives of individual authorities and illustrates that, without international harmonization, there is a systematic risk that global welfare would be reduced due to individual authorities’ sub-optimal regulations. The article then discusses possible options for international coordination and harmonization.