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Author: Clive Maximilian Schmitthoff
Publisher: BRILL
ISBN: 9789024737024
Category : Law
Languages : en
Pages : 864
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Book Description
Author: Patricia Anne Mueller
Publisher:
ISBN:
Category :
Languages : en
Pages : 187
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Book Description
Chapter 1: I examine the welfare benefit of committing to a trade agreement when a politically-motivated government faces monopolistically competitive firms lobbying for tariff protection against imports. In my model, lobbying is costly to producers: each firm must pay a portion of the industry's upfront-lobby-formation fee as determined by a sequential bargaining game. I show that monopolistically competitive producers under-hire capital to avoid paying a larger share of lobbying costs. As a result, more varieties are produced than is socially optimal, and each firm operates at a higher-than-optimal marginal cost. Commitment to a trade agreement leads to a consolidation of firms in the market and a reduction in the tariff level. I show that a government benefits from committing to a trade agreement (i) on goods with very elastic or very inelastic demand, (ii) when the weight the government places on receiving political contributions from lobbyists is small, and (iii) when producers are strong bargainers and are able to capture the majority of the rents from protection. Chapter 2: In a model in which a small-country government faces domestic political-economy pressure and uncertainty over its terms of trade, a welfare-maximizing government benefits from having access to both rigid and flexible tariff policy options. I show that a welfare-maximizing government may prefer to join both a deep-integration regional trade agreement (helping it commit to free trade with key trading partners, thus correcting production distortions resulting from rent-seeking by politically organized sectors), and a large flexible agreement like the World Trade Organization (providing the flexibility in tariff levels and the institutional structure to pursue temporary tariff protection in response to shocks or unfair trade practices). My paper builds on the framework of Maggi and Rodriguez-Clare (1998), adding uncertainty over world prices and adding the option to join a trade agreement with the flexibility of a temporary escape clause.
Author: Ernest H. Preeg
Publisher: University of Chicago Press
ISBN: 9780226679624
Category : Business & Economics
Languages : en
Pages : 174
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Book Description
In his new book, Ernest Preeg analyzes international trade and investment in the 1990s and lays out a comprehensive U.S. trade strategy for the uncertain period ahead. He examines the influence of the World Trade Organization (WTO) and argues that economic globalization is beneficial to the U.S. economy in the short- to medium-term while raising important questions about national sovereignty and security over the longer term. Preeg believes regional free trade agreements will soon encompass the majority of world trade, but they can conflict with the WTO's multilateral objectives. The central challenge for U.S. trade strategy, then, is to integrate the now largely separate multilateral and regional tracks of the world trading system. The first essay assesses U.S. interests in economic globalization, the second examines recent steps toward free trade at the multilateral and regional levels, and the next three offer an in-depth critique of U.S. regional free trade objectives in the Americas, across the Pacific, and possibly with Europe. The final essay presents a multilateral/regional synthesis for going from here to free trade over the coming decade.
Author: Chin L. Lim
Publisher: World Scientific
ISBN: 9814324639
Category : Political Science
Languages : en
Pages : 346
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Book Description
Singapore, a small country with limited resources, has nevertheless played a significant role in regional and global trade negotiations. Its negotiators possess a wealth of knowledge and experiences and yet few have told their story. This book is a collection of sixteen essays by authors who have been closely involved in trade negotiations including GATT/WTO and bilateral free trade agreements. They share their experiences in such negotiations, how they promoted national interests and advanced the global trade agenda. It will appeal to readers who are interested in how international economic diplomacy is conducted, and Singapore's role and perspective as an open trading nation.
Author: Eric W. Bond
Publisher: World Scientific Publishing Company
ISBN: 9789813141841
Category : Business & Economics
Languages : en
Pages : 350
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Book Description
This book contains the main contributions of Eric Bond in the areas of international trade policy, trade agreements, and economic growth. The central focus of this volume is the author's pioneering work on the role of differences in market power across countries in explaining incentives to join preferential trade agreements and the form of trade agreements. Other topics include the interactions of physical and human capital accumulation in determining trade patterns and growth rates and the impact of non-tariff measures on international trade and investment. The volume also gives insights into the role of firm heterogeneity in domestic and international trade.
Author: Asrat Tesfayesus
Publisher:
ISBN:
Category :
Languages : en
Pages : 204
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Book Description
In the advent of WWII, artificial trade barriers had reached their 20th century peaks. Drastic protectionist measures, aggravated by a worldwide economic depression, led to the significant decline in international trade which in effect further prolonged the economic crises. However, after the end of WWII, among other serious measures taken to promote international economic integration, the General Agreement on Tariffs and Trade (GATT) was put into effect. Since 1948, the GATT has been effectively used as an instrument to gradually and substantially reduce international trade barriers. These reductions were implemented after multilaterally agreed upon reciprocal concessions were negotiated and signed during the 8 different Rounds that the GATT successfully facilitated. While the primary objective of liberalizing trade is at the essence of these rounds, what negotiators negotiate about in how to share the gains from trade that ensue is less apparent. Furthermore, the GATT as an instrument has been functioning under the auspices of the World Trade Organization (WTO) since 1995. With more countries involved and more varied tradable outputs to negotiate over, the magnitude of the pareto improving gains from trade is increasingly substantial. Since its inception, the WTO has put tremendous effort and resources to continue the process of trade liberalization. However, the Doha Round, the only WTO Round, has yet to show any substantial progress after 12 years since it began in 2001. Why member states fail to reach an agreement has yet to be answered. In this dissertation, I shed some light on both questions. First, using a select number of developing countries I provide an empirical support to the terms of trade theory; which argues that negotiators negotiate and enter into trade agreement in order to escape from a terms of trade prisoner's dilemma. Negotiators agree to reciprocally internalize externalities they impose on each other in order to create a more efficient international trade environment. Secondly, I argue that in light of the participation of a larger number of asymmetrically informed member states dealing with a much greater scope of issues that have to all be settled at once, the delay in the Doha Round completion can be explained by negotiating parties engaging in a war of attrition. A negotiator who does not know its trading partners' cost of waiting and valuation of outcome is more likely to attempt to wait it out until all trading partners concede. Consequently, the group as a whole is left with an inefficient amount of delay that could potentially be alleviated by an imposition of a strict deadline by which time an agreement has to be reached. Finally, I provide some empirical evidence to show how the war of attrition story is aggravated by the sudden proliferation in the use of Regional Trade Agreements (RTA) since the early 1990s.
Author: N. David Palmeter
Publisher: Cameron May
ISBN: 1874698341
Category : Commercial policy
Languages : en
Pages : 371
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Book Description
Author: Robert E. Hudec
Publisher:
ISBN:
Category : Business & Economics
Languages : en
Pages : 410
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Book Description
Author: Daniel L. M. Kennedy
Publisher: Cambridge University Press
ISBN: 1139434489
Category : Law
Languages : en
Pages : 712
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Book Description
International experts from law, economics and political science provide in-depth analysis of international trade issues. Attorneys, economists and political scientists adopt a common viewpoint, entitled 'transcending the ostensible'. This approach directs particular attention to the possibility that WTO legal institutions, like other international legal institutions, will function in unexpected ways due to the political and economic conditions of the international environment in which they have been created, and in which they operate. A range of trade problems are considered here. Topics include the constitutional dimensions of international trade law, adding subjects and restructuring existing subjects to international trade law, the legal relations between developed and developing countries, and the operation of the WTO dispute settlement procedure. This will be an essential volume for professionals and academics involved with international trade policy.
Author: Clive Maximilian Schmitthoff
Publisher: BRILL
ISBN: 9789024737024
Category : Law
Languages : en
Pages : 864
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Book Description
Author: Alan S. Alexandroff
Publisher:
ISBN:
Category : Business & Economics
Languages : en
Pages : 280
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Book Description
This volume examines the critical issues facing the global trading system today. As the title suggests, Trends in World Trade honors one of the world's great trade policy experts -- Sylvia Ostry. Sylvia is recognized as one of the quintessential trade and investment experts whose career spans public and academic service in Canada. The issues addressed represent central questions in the development of the international economy. This book covers, among other things, institutional concerns such as the adequacy of World Trade Organization governance and its growing judicialization. Trends in World Trade examines the consequences for the global economy of China's admittance to the WTO. It also examines the consequences of continuing system friction -- one of Sylvia Ostry's many contributions to our understanding of global trade relations. The contributors tackle global trade challenges from transparency to the matter of coherence, and from agricultural subsidies to the challenges of global investment. This volume also looks at the impact of international trade, finance and investment on states and their societies. Students of trade, trade experts, practitioners, and trade officials will find this volume a must-read for a better understanding of the trends in the global trade regime. This book is part of the Studies on Globalization and Society Series, edited by Raj Bhala, Rice Distinguished Professor, The University of Kansas School of Law.
