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The World Trading System, 2nd Edition: Law and Policy of International Economic Relations

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  • John H. Jackson

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    (Georgetown University)

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    Abstract

    Since the first edition of The World Trading System was published in 1989, the Uruguay Round of trade negotiations has been completed, and most governments have ratified and are in the process of implementing the General Agreement on Tariffs and Trade (GATT). In the Uruguay Round, more than 120 nations negotiated for over eight years, to produce a document of some 26,000 pages. This new edition of The World Trading System takes account of these and other developments. Like the first edition, however, its treatment of topical issues is grounded in the fundamental legal, constitutional, institutional, and political realities that mold trade policy. Thus the book continues to serve as an introduction to the study of trade law and policy. Two basic premises of The World Trading System are that economic concerns are central to foreign affairs, and that national economies are growing more interdependent. The author presents the economic principles of international trade policy and then examines how they operate under real- world constraints. In particular, he examines the extremely elaborate system of rules that governs international economic relations. Until now, the bulk of international trade policy has addressed trade in goods; issues inadequately addressed by policy include trade in services, intellectual property rights, certain investment measures, and agriculture. The author highlights the tension between legal rules, designed to create predictability and stability, and the governments need to make exceptions to solve short-term problems. He also looks at weaknesses of international trade policy, especially as it applies to developing countries and economies in transition. He concludes with a look at issues that will shape international trade policy well into the twenty-first century.

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    Bibliographic Info

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    This book is provided by The MIT Press in its series MIT Press Books with number 0262600277 and published in 1997.

    Volume: 1
    Edition: 1
    ISBN: 0-262-60027-7
    Handle: RePEc:mtp:titles:0262600277

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    Web page: http://mitpress.mit.edu

    Related research

    Keywords: Uruguay Round; trade law; international trade policy;

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    Cited by:
    1. Rodney D. Ludema & Anna Maria Mayda, 2008. "Do Countries Free Ride on MFN?," Development Working Papers 254, Centro Studi Luca d\'Agliano, University of Milano.
    2. Nelson, Douglas, 2006. "The political economy of antidumping: A survey," European Journal of Political Economy, Elsevier, vol. 22(3), pages 554-590, September.
    3. Karacaovali, Baybars & Limão, Nuno, 2005. "The Clash of Liberalizations: Preferential vs. Multilateral Trade Liberalization in the European Union," CEPR Discussion Papers 4973, C.E.P.R. Discussion Papers.
    4. Spearot, Alan C., 2013. "Variable demand elasticities and tariff liberalization," Journal of International Economics, Elsevier, vol. 89(1), pages 26-41.
    5. Ozden, Caglar & Reinhardt, Eric, 2005. "The perversity of preferences: GSP and developing country trade policies, 1976-2000," Journal of Development Economics, Elsevier, vol. 78(1), pages 1-21, October.
    6. Bown, Chad P., 2004. "The Economics of the World Trading System: Kyle Bagwell and Robert W. Staiger, The Economics of the World Trading System, MIT Press, 2002," Journal of International Economics, Elsevier, vol. 62(1), pages 239-243, January.
    7. Goetz, Christian & Heckelei, Thomas & Rudloff, Bettina, 2008. "What makes countries initiate WTO disputes on food-related issues?," Discussion Papers 56974, University of Bonn, Institute for Food and Resource Economics.
    8. Helpman, Elhanan & Antras, Pol & Aghion, Philippe, 2007. "Negotiating Free Trade," Scholarly Articles 3351239, Harvard University Department of Economics.
    9. Basyah, Mohammad & Hartigan, James C., 2007. "Analyst earnings forecast revisions and the persistence of antidumping relief," International Review of Economics & Finance, Elsevier, vol. 16(3), pages 383-399.

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