From social clause to policy space: the trade union narrative on the WTO

Abstract Since 1994, the trade union narrative on the WTO has shifted from a single- and pro-active issue – a social clause linking trade liberalisation to core labour standards – to a broader, but more defensive, agenda on preserving governments’ “policy space” at home – containing trade liberalisation to protect public services, industrial policies, access …

A reality test for the European definition of sustainable investment

How should a “sustainable” financial investment be defined? The European Responsible Investment Framework, including the 2019 Sustainable Finance Disclosure Regulation (SFDR) and the 2020 Environmental Taxonomy, draws three fundamental principles: This European process, clarifying what constitutes sustainable investment, is obviously welcome. Implementing and interpreting the SFDR has not been easy, however. The concerns are twofold: …

Is the global tax agenda about raising revenues, reducing inequalities or better regulation?

Last 13 October 2021, the G20 Finance Ministers and Central Bank Governors endorsed the final version of the Statement on a Two-Pillar Solution to Address the Tax Challenges Arising from the Digitalisation of the Economy adopted by 136 countries of the OECD/G20 Inclusive Framework on BEPS a week before. Following two years of negotiations, the …

Regulating Big Tech, the Too-Big-To-Fail Way

There has been much talk about breaking up Big Tech, but not sufficiently at the international level — including at the OECD. The post-2008 financial reform agenda can be a source of inspiration as we move ahead. Top-heavy market concentration in the digital economy is well documented. It is evidenced by the OECD’s 2019 Going Digital report. The …

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