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The World Trade Organization: Theory and Practice

Author

Listed:
  • Kyle Bagwell
  • Robert W. Staiger

    (Department of Economics, Stanford University, Stanford, California 94305, and NBER)

Abstract

We consider the purpose and design of the World Trade Organization (WTO) and its predecessor, the General Agreement on Tariffs and Trade (GATT), and review recent developments in the relevant theoretical and empirical literature. We describe the GATT/WTO architecture and briefly trace its historical antecedents. We suggest that the existing literature provides a useful framework for understanding and interpreting central features of the design and practice of the GATT/WTO, and we identify key unresolved issues.

Suggested Citation

  • Kyle Bagwell & Robert W. Staiger, 2010. "The World Trade Organization: Theory and Practice," Annual Review of Economics, Annual Reviews, vol. 2(1), pages 223-256, September.
    • Handle: RePEc:anr:reveco:v:2:y:2010:p:223-256
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    File URL: http://www.annualreviews.org/doi/abs/10.1146/annurev.economics.102308.124500
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    Citations

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    Cited by:

    1. Chang, Pao-Li & Lee, Myoung-Jae, 2011. "The WTO trade effect," Journal of International Economics, Elsevier, vol. 85(1), pages 53-71, September.
    2. Nataliya Yu. Tanyushcheva, 2019. "Background of Anti-Money Laundering Regulation in Modern Economic Theory," Finansovyj žhurnal — Financial Journal, Financial Research Institute, Moscow 125375, Russia, issue 6, pages 96-107, December.
    3. Kyle Bagwell & Chad P. Bown & Robert W. Staiger, 2016. "Is the WTO Passé?," Journal of Economic Literature, American Economic Association, vol. 54(4), pages 1125-1231, December.
    4. Barbara Dluhosch & Daniel Horgos, 2013. "(When) Does Tit-for-tat Diplomacy in Trade Policy Pay Off?," The World Economy, Wiley Blackwell, vol. 36(2), pages 155-179, February.
    5. Auray, Stéphane & Devereux, Michael B. & Eyquem, Aurélien, 2022. "Self-enforcing trade policy and exchange rate adjustment," Journal of International Economics, Elsevier, vol. 134(C).
    6. Olper, Alessandro, 2017. "The political economy of trade-related regulatory policy: environment and global value chain," Bio-based and Applied Economics Journal, Italian Association of Agricultural and Applied Economics (AIEAA), vol. 5(3), February.
    7. Lorenzo Caliendo & Robert C. Feenstra & John Romalis & Alan M. Taylor, 2015. "Tariff Reductions, Entry, and Welfare: Theory and Evidence for the Last Two Decades," NBER Working Papers 21768, National Bureau of Economic Research, Inc.
    8. Jaime DE MELO & Marcelo OLARREAGA, 2017. "Trade Related Institutions and Development," Working Papers P199, FERDI.
    9. Sheldon, Ian M. & Chow, Daniel C.K. & McGuire, William, 2017. "Trade Liberalization and Institutional Constraints on Moves to Protectionism: Multilateralism vs. Regionalism," 2018 Allied Social Sciences Association (ASSA) Annual Meeting, January 5-7, 2018, Philadelphia, Pennsylvania 266305, Agricultural and Applied Economics Association.
    10. Huynh, Pham Duy Anh, 2023. "Non-market economy status in anti-dumping investigations and proceedings: A case study of Vietnam," OSF Preprints esw4b, Center for Open Science.
    11. Felbermayr, Gabriel & Jung, Benjamin & Larch, Mario, 2013. "Optimal tariffs, retaliation, and the welfare loss from tariff wars in the Melitz model," Journal of International Economics, Elsevier, vol. 89(1), pages 13-25.
    12. Lorenzo Caliendo & Fernando Parro, 2015. "Estimates of the Trade and Welfare Effects of NAFTA," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 82(1), pages 1-44.
    13. Huynh, Pham Duy Anh, 2022. "Non-Market Economy Status In Anti-Dumping Investigations And Proceedings: A Case Study Of Vietnam," OSF Preprints 2twmp, Center for Open Science.
    14. Bagwell, Kyle & Staiger, Robert W., 2010. "Backward stealing and forward manipulation in the WTO," Journal of International Economics, Elsevier, vol. 82(1), pages 49-62, September.
    15. Soegaard, Christian, 2013. "An Oligopolistic Theory of Regional Trade Agreements," The Warwick Economics Research Paper Series (TWERPS) 1007, University of Warwick, Department of Economics.
    16. Baracat, Elias A. & Finger, J. Michael & Thorne, Raul Leon & Nogues, Julio J., 2013. "Sustaining trade reform : institutional lessons from Peru and Argentina," Policy Research Working Paper Series 6610, The World Bank.

    More about this item

    Keywords

    WTO; GATT; trade agreements; terms-of-trade theory;
    All these keywords.

    JEL classification:

    • F13 - International Economics - - Trade - - - Trade Policy; International Trade Organizations
    • F15 - International Economics - - Trade - - - Economic Integration
    • K33 - Law and Economics - - Other Substantive Areas of Law - - - International Law

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