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An introduction to the WTO and GATT

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  • Meredith A. Crowley

Abstract

This article reviews the history of GATT and the WTO. It discusses the founding principles of the post-WW II world trading system--reciprocity and nondiscrimination. Lastly, the article reviews the economics literature on regional trade agreements and administered protection, two important exceptions to GATT's requirement in trade policy.

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Bibliographic Info

Article provided by Federal Reserve Bank of Chicago in its journal Economic Perspectives.

Volume (Year): (2003)
Issue (Month): Q IV ()
Pages: 42-57

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Handle: RePEc:fip:fedhep:y:2003:i:qiv:p:42-57:n:v.27no.4

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Keywords: General Agreement on Tariffs and Trade (Organization) ; World Trade Organization;

References

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  1. Spencer, Barbara J., 1988. "Capital subsidies and countervailing duties in oligopolistic industries," Journal of International Economics, Elsevier, vol. 25(1-2), pages 45-69, August.
  2. Thomas J. Prusa, 1999. "On the Spread and Impact of Antidumping," NBER Working Papers 7404, National Bureau of Economic Research, Inc.
  3. Thomas J. Prusa & Ronald D. Fischer, 1999. "Contingent protection as better insurance," Departmental Working Papers 199902, Rutgers University, Department of Economics.
  4. Dixit, Avinash, 1988. "Anti-dumping and countervailing duties under oligopoly," European Economic Review, Elsevier, vol. 32(1), pages 55-68, January.
  5. Bond, Eric W. & Syropoulos, Constantinos, 1996. "The size of trading blocs Market power and world welfare effects," Journal of International Economics, Elsevier, vol. 40(3-4), pages 411-437, May.
  6. Bagwell, Kyle & Staiger, Robert W, 1997. "Multilateral Tariff Cooperation during the Formation of Free Trade Areas," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 38(2), pages 291-319, May.
  7. Levy, Philip I, 1997. "A Political-Economic Analysis of Free-Trade Agreements," American Economic Review, American Economic Association, vol. 87(4), pages 506-19, September.
  8. Hillman, Arye L, 1984. "Declining Industries and Political-Support Protectionist Motives: Errata," American Economic Review, American Economic Association, vol. 74(1), pages 260, March.
  9. Wilfred J. Ethier, 2001. "Unilateralism in a Multilateral World," Tinbergen Institute Discussion Papers 01-033/2, Tinbergen Institute.
  10. Caroline Freund, 2000. "Different Paths To Free Trade: The Gains From Regionalism," The Quarterly Journal of Economics, MIT Press, vol. 115(4), pages 1317-1341, November.
  11. Kyle Bagwell & Robert W. Staiger, 1999. "Multilateral Trade Negotiations, Bilateral Opportunism and the Rules of GATT," NBER Working Papers 7071, National Bureau of Economic Research, Inc.
  12. Sampson, Gary P, 1996. "Compatibility of Regional and Multilateral Trading Agreements: Reforming the WTO Process," American Economic Review, American Economic Association, vol. 86(2), pages 88-92, May.
  13. Staiger, Robert W. & Wolak, Frank A., 1992. "The effect of domestic antidumping law in the presence of foreign monopoly," Journal of International Economics, Elsevier, vol. 32(3-4), pages 265-287, May.
  14. Collie, David, 1991. "Export subsidies and countervailing tariffs," Journal of International Economics, Elsevier, vol. 31(3-4), pages 309-324, November.
  15. Kiminori Matsuyama, 1987. "Perfect Equilibria in a Trade Liberalization Game," Discussion Papers 738, Northwestern University, Center for Mathematical Studies in Economics and Management Science.
  16. Gruenspecht, Howard K., 1988. "Dumping and dynamic competition," Journal of International Economics, Elsevier, vol. 25(3-4), pages 225-248, November.
  17. S. Lael Brainard & Thierry Verdier, 1993. "The Political Economy of Declining Industries: Senescent Industry Collapse Revisited," NBER Working Papers 4606, National Bureau of Economic Research, Inc.
  18. Jagdish Bhagwati, 1992. "Regionalism versus Multilateralism," The World Economy, Wiley Blackwell, vol. 15(5), pages 535-556, 09.
  19. John McLaren, 2002. "A Theory Of Insidious Regionalism," The Quarterly Journal of Economics, MIT Press, vol. 117(2), pages 571-608, May.
  20. Miyagiwa, Kaz & Ohno, Yuka, 1999. "Credibility of Protection and Incentives to Innovate," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 40(1), pages 143-63, February.
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Citations

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Cited by:
  1. Chad P. Bown & Meredith Crowley & Rachel McCulloch & Daisuke J. Nakima, 2005. "The U.S. trade deficit: made in China?," Economic Perspectives, Federal Reserve Bank of Chicago, issue Q IV, pages 2-18.
  2. Rachel McCulloch, 2010. "The International Trading System and Its Future," Working Papers 08, Brandeis University, Department of Economics and International Businesss School.
  3. Meredith A. Crowley & Xi Luo, 2011. "Understanding the great trade collapse of 2008–09 and the subsequent trade recovery," Economic Perspectives, Federal Reserve Bank of Chicago, issue Q II, pages 44-68.

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