The Economics of the World Trading System - Hardcover

Bagwell, Kyle

Hardcover

ISBN 10: 0262025299 ISBN 13: 9780262025294

Publisher: MIT Press, 2002

Synopsis

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.

About this title

About the Author

Kyle Bagwell is Professor of Economics and Senior Fellow at the Stanford Institute for Economic Policy Research. He is also Research Associate at the National Bureau of Economic Research.

Edition details

• Publisher: MIT Press
• Publication date: 2002
• Language: English
• ISBN 10: 0262025299
• ISBN 13: 9780262025294
• Binding: Hardcover
• Number of pages: 224