The Regulation of Digital Trade : Key Policies and International Trends
One day, people will wonder how global trade was even possible with before goods and services were bought and sold in global digital markets without regard or even knowledge of where sellers and buyers where located. We are not there yet --not by a...
| Main Authors: | , , |
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| Format: | Report |
| Language: | English |
| Published: |
World Bank, Washington, DC
2020
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| Subjects: | |
| Online Access: | http://documents.worldbank.org/curated/en/998881578289921641/The-Regulation-of-Digital-Trade-Key-Policies-and-International-Trends http://hdl.handle.net/10986/33164 |
| Summary: | One day, people will wonder how global
trade was even possible with before goods and services were
bought and sold in global digital markets without regard or
even knowledge of where sellers and buyers where located. We
are not there yet --not by a long shot. For now, digital
trade remains segmented mostly along national and regional
boundaries, due largely to a combination of lack of consumer
trust in online transactions and regulatory differences
across borders, as well as the inherent challenges of moving
goods internationally. Regulation plays a central role in
building the foundations of digital markets. It can provide
the legal tools necessary for remote contracts, clarify the
rights and obligations of the multiple actors involved in
digital transactions, and establish a framework that
promotes consumer trust in digital markets, even when the
consumer does not know the merchant or when the merchant is
in a different country. However, regulation can also further
segment digital trade, de facto restricting digital
transactions to within national boundaries, or allowing for
cross-border transactions with some partners to flourish,
while limiting others. This can be the intended result of
regulatory measures that limit cross-border data flows or
online purchases or may be the undesired effect of
regulatory differences across countries that leads
businesses to offer different goods and services across boundaries. |
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