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Economics of the World Trading System

Economics of the World Trading System - 02 edition

ISBN13: 978-0262524346

Cover of Economics of the World Trading System 02 (ISBN 978-0262524346)
ISBN13: 978-0262524346
ISBN10: 0262524341

Cover type: Paperback
Edition: 02
Copyright: 2002
Publisher: MIT Press
Published: 2002
International: No

List price: $24.00

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Economics of the World Trading System - 02 edition

ISBN13: 978-0262524346

Kyle Bagwell and Robert W. Staiger

ISBN13: 978-0262524346
ISBN10: 0262524341

Cover type: Paperback
Edition: 02
Copyright: 2002
Publisher: MIT Press
Published: 2002
International: No
Summary

World trade is governed by the rules of the World Trade Organization (WTO), the successor to the General Agreement on Tariffs and Trade (GATT). The WTO sets rules of conduct for the international trade of goods and services and for intellectual property rights, provides a forum for multinational negotiations to resolve trade problems, and has a formal mechanism for dispute settlement. It is the primary institution working, through rule-based bargaining, at freeing trade.

In this book, Kyle Bagwell and Robert Staiger provide an economic analysis and justification for the purpose and design of the GATT/WTO. They summarize their own research, discuss the major features of the GATT agreement, and survey the literature on trade agreements. Their focus on the terms-of-trade externality is particularly original and ties the book together. Topics include the theory of trade agreements, the origin and design of the GATT and the WTO, the principles of reciprocity, the most favored nation principle, terms-of-trade theory, enforcement, preferential trade agreements, labor and environmental standards, competition policy, and agricultural export subsidies.

Table of Contents

Preface

1 Introduction

2 The Theory of Trade Agreements

3 The History and Design of GATT and the WTO

4 Reciprocity

5 MFN

6 Enforcement

7 Preferential Trading Agreements

8 Labor and Environmental Standards

9 Competition Policy

10 Agricultural Export Subsidies

11 The Practical Relevance of Terms-of-Trade Considerations

12 Conclusion

Appendixes

References

Index

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