Essays on the Impact of Renegotiating Trade Agreements PDF Download
Are you looking for read ebook online? Search for your book and save it on your Kindle device, PC, phones or tablets. Download Essays on the Impact of Renegotiating Trade Agreements PDF full book. Access full book title Essays on the Impact of Renegotiating Trade Agreements by Oliver Exton. Download full books in PDF and EPUB format.
Author: Oliver Exton
Publisher:
ISBN:
Category :
Languages : en
Pages :
Get Book Here
Book Description
Author: Oliver Exton
Publisher:
ISBN:
Category :
Languages : en
Pages :
Get Book Here
Book Description
Author: Kristina L. Buzard
Publisher:
ISBN: 9781267418838
Category : Commercial policy
Languages : en
Pages : 106
Get Book Here
Book Description
The first chapter of the dissertation addresses general issues in contracting with external enforcement. We study a contracting environment with specific investments in which renegotiation, and therefore hold-up, is possible. We show that taking account of the precise nature of trading and investment technologies is important for accurately determining the trading relationships in which efficient investment and trade will occur and that careful modeling of institutional detail and the information available to private parties and the external enforcement body (e.g. a court) are key. The second chapter presents a model of international trade agreements in which domestic policy-making power is shared between executive and legislative branches of government. Acknowledging the complexity of the legislative process as well as its susceptibility to lobbying reveals a political commitment role for trade agreements in that executives can use them to reduce incentives for lobbying so that the legislatures can better withstand political pressure. This helps explain the result from tests of the Grossman and Helpman (1994) model that there is too much protection relative to contributions given estimates of governments' social-welfare weights : I predict that contribution levels may in fact be low because tariffs have been raised to prevent political pressure and the increased risk of a trade disruption it engenders. The third chapter extends this model to a repeated-game framework, replacing the assumption of external enforcement with self-enforcing promises of future cooperation. Here, the inability of actors to make commitments affects the design of trade agreements in two ways: executives must not only take into account the legislatures' lobbying-driven propensity to revoke delegation and break the agreement, but also be robust to the executives' own incentives to renegotiate out of any punishment scheme. The design of the dispute resolution mechanism that makes the optimal punishment incentive compatible must balance two, often-conflicting, objectives: longer punishment periods help to enforce cooperation by increasing the costs of defecting from the agreement, but because the lobbies prefer the punishment outcome, this also incentivizes lobbying effort and with it the political pressure to break the agreement. Thus the model generates new predictions for the optimal design of mechanisms for resolving the disputes that arise in the course of trade-agreement relationships.
Author: Denis E. Medvedev
Publisher:
ISBN:
Category : CAFTA (Free trade agreement)
Languages : en
Pages : 472
Get Book Here
Book Description
Author: Meredith Crowley
Publisher:
ISBN:
Category : European Union countries
Languages : en
Pages : 33
Get Book Here
Book Description
The renegotiation of a trade agreement introduces uncertainty into the economic environment. In June 2016 the British electorate unexpectedly voted to leave the European Union, introducing a new era in which the UK and EU began to renegotiate the terms of the UK-EU trading relationship. We exploit this natural experiment to estimate the impact of uncertainty associated with trade agreement renegotiation on the export participation decision of firms in the UK. Starting from the Handley and Limao (2017) model of exporting under trade policy uncertainty, we derive testable predictions of firm entry into (exit from) a foreign market under an uncertain `renegotiation regime'. Empirically, we develop measures of the trade policy uncertainty facing firms exporting from the UK to the EU after June 2016. Using the universe of UK export transactions at the firm and product level, and cross-sectional variation in `threat point' tariffs, we estimate that in 2016 over 5300 exporters did not enter into exporting new products to the EU, whilst over 5400 exporters exited from exporting products to the EU. Entry (exit) in 2016 would have been 5.0% higher (6.1% lower) if firms exporting from the UK to the EU had not faced increased trade policy uncertainty after June 2016.
Author:
Publisher:
ISBN:
Category : Investments
Languages : en
Pages : 114
Get Book Here
Book Description
The world trading system is governed through an ever expanding web of trade agreements, which subtly but powerfully determine the terms of market competition and how rents are distributed between countries, rms and consumers. This thesis studies two such agreements: rstly, Customs Unions regional agreements with a wide coverage of goods and a common external tari and secondly the Information Technology Agreement, a plurilateral agreement to eliminate import tari s on a narrow range of goods. The Silent Success of Customs Unions, the rst chapter, joint work with Hinnerk Gnutzmann, studies theoretically the incentives of governments which may be subject to lobbying to form bilateral trade agreements, considering both exceptions to the MFN principle permitted under GATT/WTO rules: namely, the Free Trade Area, where partner countries liberalise internal tari s to zero but retain independent in their external policy, and a Customs Union, which goes beyond FTA by requiring the countries to adopt a harmonised common external tari . We show that it is always a political equilibrium to implement CU. Crucially, while CUs may be formed because of lobbying, we show that they improve the welfare of member countries as long as trade with the rest of the world remains positive. In line with these results, we show empirically that CUs are much more important to world trade in terms trade volume and membership scope than so far acknowledged in the literature. Surprisingly little is known empirically about the e ect of Customs Unions on tari policy. In my second chapter, Determining the Common External Tari in a Customs Union: Evidence from the Eurasian Customs Union, I seek to ll the void. Using a large panel data set from the Eurasian Customs Union (ECU), established from 2010 between Russia, Belarus and Kazakhstan, I demonstrate the importance of mutual protectionism: member states user their bargaining power to spill over to CU partners high tari s for those goods which were previously strongly protected nationally. There is little evidence of the reverse 3 4 CONTENTS e ect, i.e. tari s being negotiated down for lines that were previously handled liberally in national tari policy. This e ect is demonstrated using three methodologies: analysis of variance using unique explanatory power of each variable, determining Shapley value from analysis of variance and OLS regression. The chapter also develops a simple model to rationalise the e ect. Trade facilitation, the reduction of administrative and other barriers barriers, has become a key policy priority. Customs Unions may eliminate internal border controls. But how strongly can such measures bene t trade? In the ECU, the elimination of borders proceeded in two stages, which allows me to study the Trade Impact of Non Tari Trade Costs in chapter 3. I control for tari changes and other factors to show that the growth in internal trade between the ECU member countries can be attributed to reduced trade costs, rather than trade diversion due to tari increases. The natural experiment of border removal thus allows more precise estimates of trade costs than approaches that capture non tari costs merely as a residual. Finally, The Layers of the Information Technology Agreement Impact joint work with Christian Henn turns to plurilateral agreements. We show how the WTO's Information Technology Agreement (ITA) a ected trade ows and value chain participation in the IT sector. We show that this agreement did not only lead to increased imports, but by reducing the cost of intermediate goods ITA members were also able to increase their exports of nal goods. Our estimation strategy is based on the plausibly exogenous entry of late signatories to the agreement, who rati ed the ITA as part of a broader policy objective. Using product level data, we are able to take into account the various layers of ITA impact, dissecting the impact of tari reduction, tari elimination to zero, and over and above tari reductions, including through rm relocation via intermediate goods channel. We nd that having zero tari s is associated with more imports of intermediate than nal goods, and with participation in global value chains. This nding also supports the line of thought that trade policy certainty attracts investment.
Author: Aaditya Mattoo
Publisher: World Bank Publications
ISBN: 1464815542
Category : Political Science
Languages : en
Pages : 768
Get Book Here
Book Description
Deep trade agreements (DTAs) cover not just trade but additional policy areas, such as international flows of investment and labor and the protection of intellectual property rights and the environment. Their goal is integration beyond trade or deep integration. These agreements matter for economic development. Their rules influence how countries (and hence, the people and firms that live and operate within them) transact, invest, work, and ultimately, develop. Trade and investment regimes determine the extent of economic integration, competition rules affect economic efficiency, intellectual property rights matter for innovation, and environmental and labor rules contribute to environmental and social outcomes. This Handbook provides the tools and data needed to analyze these new dimensions of integration and to assess the content and consequences of DTAs. The Handbook and the accompanying database are the result of collaboration between experts in different policy areas from academia and other international organizations, including the International Trade Centre (ITC), Organisation for Economic Co-operation and Development (OECD), United Nations Conference on Trade and Development (UNCTAD), and World Trade Organization (WTO).
Author: Walter Goode
Publisher:
ISBN: 9781921244957
Category : Australia
Languages : en
Pages : 208
Get Book Here
Book Description
Author:
Publisher: Elsevier
ISBN: 0444639268
Category : Business & Economics
Languages : en
Pages : 600
Get Book Here
Book Description
Handbook of Commercial Policy explores three main topics that permeate the study of commercial policy. The first section presents a broad set of basic empirical facts regarding the pattern and evolution of commercial policy, with the second section investigating the crosscutting legal issues relating to the purpose and design of agreements. Final sections cover key issues of commercial policy in the modern global economy. Every chapter in the book provides coverage from the perspectives of multilateral, and where appropriate, preferential trade agreements. While most other volumes are policy-oriented, this comprehensive guide explores the ways that intellectual thinking and rigor organize research, further making frontier-level synthesis and current theoretical, and empirical, research accessible to all. Covers the research areas that are critical for understanding how the world of commercial policy has changed, especially over the last 20 years Presents the way in which research on the topic has evolved Scrutinizes the economic modeling of bargaining and legal issues Useful for examining the theory and empirics of commercial policy
Author: Asian Development Bank. Office of Regional Economic Integration
Publisher:
ISBN:
Category : Asia
Languages : en
Pages : 168
Get Book Here
Book Description
Author: Kevin P. Gallagher
Publisher:
ISBN: 9780982568309
Category :
Languages : en
Pages : 90
Get Book Here
Book Description
