The New Economy and the International Regulatory Framework

Kiel Working Paper No. 1030

43 Pages Posted: 26 Mar 2001

See all articles by Daniel Piazolo

Daniel Piazolo

THM Technische Hochschule Mittelhessen

Date Written: March 2001


The rapid diffusion of the internet and electronic commerce changes the way business and international trade take place. The new economy poses new challenges to the international regulatory framework, since small distortions due to differing sets of regulations and taxation between countries might grow to non-negligible dimensions. This paper examines the necessary reforms of the multilateral framework concerning standards, policy coordination and taxation and stresses that the new economy reinforces the need for consistent, transparent, non-discriminatory, simple and enforceable rules. Furthermore, strategies to overcome the digital divide between countries are set out.

Keywords: New Economy, Policy Coordination, Tax Distortion, Trade Diversion, WTO, Developing Countries.

JEL Classification: F02, O19

Suggested Citation

Piazolo, Daniel, The New Economy and the International Regulatory Framework (March 2001). Kiel Working Paper No. 1030, Available at SSRN: or

Daniel Piazolo (Contact Author)

THM Technische Hochschule Mittelhessen ( email )

University of Applied Sciences
Wilhelm-Leuschner-Stra├če 13
Friedberg, 61169


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