Conference : Speakers : Programme : Papers : Registration : Venue : Contact : Links
   
Carter, Connie
Casanova, Arnel
Gopalakrishnan, Shankar
Harada Hiroki
Harding, Andrew
Krusekopf, Charles
Likosky, Michael
Muchlinski, Peter
Nogami Natsu
Park Nohyoung
Tey Tsun Hang
Vaddhanaphuti, Chayan
Xu Feng

 

 


Prof. Peter Muchlinsky

Special Economic Zones: A Policy Tool in Search of a New Agenda?

The Special Economic Zone (SEZ) represents a specialised form of investment incentive regime that has played a significant role in the evolution of globalised production by multinational enterprises (MNEs). The basic concept is that of a "dual legal order" which separates a specialised policy enclave from the rest of the jurisdiction in which the zone is located.[1] It is the purpose of this paper, first, to consider the nature and origins of the SEZ concept in section 1 and, secondly, to examine the possible future impact of the concept on economic and social development. At the economic level the general trend towards trade and investment liberalisation, and the introduction, since 1995, of WTO disciplines prohibiting export trade subsidies, has placed the use of SEZs under increased regulatory strain. In such an environment, what further use does the SEZ concept have? In addition, as regards social development, how far can the SEZ concept be used to lower social standards? Or can it be a vehicle for the protection of such standards?