International Economic Law and the Interface Between Trade and Environmental Regulation
Author: Jeffrey Maurice Waincymer
Publisher:
Published: 1998
Total Pages: 0
ISBN-13:
DOWNLOAD EBOOKThis paper provides an international economic lawyer's perspective of the issues economists need to consider in analysing the trade environment interface. Despite their historical polarity, proponents of both trade and environmental regulation principally seek to reduce negative externalities that are caused by trade under certain conditions. Therefore the real issue is the form and level of intervention. The paper further argues that effective economic policy must take into account the impact of problems in enforcement and justifiability. The WTO's potential as a forum for the development of comprehensive environmental agreements is examined and ultimately rejected. Non-discrimination, necessity and national treatment are forwarded as essential to present de facto protectionism. More problematically, the paper discusses the conflict between prevention of disguised trade barriers with the need to present irreparable damage that underlies the precautionary principle. It is pointed out that the polluter pays principle is one fraught with problems, particularly the accurate determination of liability.