Assessing the Efficiency Gains from Further Liberalization
AbstractThe paper begins by arguing that globalization, which here means reductions in the remaining barriers to international trade, still has a long way to go. Next it briefly reviews the evidence on the economic benefits from globalization, followed by a consideration of the non-economic effects in such areas as the environment. A section on what should be the priority areas for multilateral trade negotiations considers form (regional vs. multilateral, the new role of developing countries, the new role of NGOs), sectors (textiles, other manufactures, agriculture, services), and other issues (anti-dumping, competition policy, investment, and government procurement). The paper concludes with a rough quantitative estimate of the economic benefits of a new WTO round. Other authors, using static models, have estimated that a new round might raise trade over the next five years by about $300 billion, and that this might raise global welfare on the order of 1 per cent of world income. But the implied 20 per cent increase in global trade volumes may have further benefits. The author’s back-of-the-envelope attempt to take into account also dynamic gains says that if multilateral liberalization raised the global level of merchandise trade from 37 per cent of world income to 45 per cent, it could raise global income per capita by roughly 2 per cent over the subsequent two decades.
Download InfoIf you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
Bibliographic InfoPaper provided by Harvard University, John F. Kennedy School of Government in its series Working Paper Series with number rwp01-030.
Date of creation: Sep 2001
Date of revision:
Contact details of provider:
Postal: 79 JFK Street, Cambridge, MA 02138
Web page: http://www.ksg.harvard.edu/research/working_papers/index.htm
More information through EDIRC
You can help add them by filling out this form.
CitEc Project, subscribe to its RSS feed for this item.
- Kan Li & Randall Morck & Fan Yang & Bernard Yeung, 2004.
"Firm-Specific Variation and Openness in Emerging Markets,"
The Review of Economics and Statistics,
MIT Press, vol. 86(3), pages 658-669, August.
- Kan Li & Randall Morck & Fan Yang & Bernard Yeung, 2003. "Firm-Specific Variation and Openness in Emerging Markets," William Davidson Institute Working Papers Series 2003-623, William Davidson Institute at the University of Michigan.
- He, Kathy S. & Morck, Randall & Yeung, Bernard, 2003.
"Corporate Stability and Economic Growth,"
CEI Working Paper Series
2003-12, Center for Economic Institutions, Institute of Economic Research, Hitotsubashi University.
- Kathy S. He & Randall Morck & Bernard Yeung, 2003. "Corporate Stability and Economic Growth," William Davidson Institute Working Papers Series 553, William Davidson Institute at the University of Michigan.
- Bernard Yeung & Kathy S. He & Randall Morck, 2004. "Corporate Stability and Economic Growth," Econometric Society 2004 North American Winter Meetings 84, Econometric Society.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: ().
If references are entirely missing, you can add them using this form.