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Trade law and trade flows

Salvador Gil-Pareja, Rafael Llorca-Vivero and Jordi Paniagua ()
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Rafael Llorca-Vivero: Department of Economic Structure, University of Valencia, Avda. dels Tarongers s/n, 46022 Valencia (Spain).

No 1804, Working Papers from Department of Applied Economics II, Universidad de Valencia

Abstract: This paper performs a structural gravity estimation of the effect of commercial law conventions on international trade flows. We focus on trade law agreements aimed to privately resolve disputes among partners: international commercial arbitration, model law and conciliation. Our results suggest three interesting traits. First, international dispute resolution mechanisms have a moderate positive impact on trade, which is stronger for similar country-pairs in terms of income. Second, this effect is not observed in agreements which do not tackle private resolution mechanisms. Third, international commercial arbitration is the most effective tool to promote trade.

Keywords: international trade law; international commercial arbitration; model law; conciliation; international trade; structural gravity (search for similar items in EconPapers)
JEL-codes: F14 K12 (search for similar items in EconPapers)
New Economics Papers: this item is included in nep-int and nep-law
Date: 2018-04
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