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Why the WTO? An Introduction to the Economics of Trade Agreements

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Author Info

  • Grossman, Gene M.

    (Princeton University)

  • Horn, Henrik

    ()
    (Research Institute of Industrial Economics (IFN))

Abstract

This study is part of The American Law Institute (ALI) project Legal and Economic Principles of World Trade Law. The project aims to analyze the central instrument in the World Trade Organization (WTO) Agreement for the regulation of trade in goods – The General Agreement on Tariffs and Trade GATT). The present study is one of two background studies for this project*. The first study, The Genesis of the GATT, appraises the rationale for the creation of the GATT, and tracks its development from a historical and legal perspective. This second study provides an overview of the economics of trade agreements. * There is a second leg to the ALI project, in which economists and lawyers jointly analyze the emerging case law from the WTO dispute-settlement mechanism.

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Bibliographic Info

Paper provided by Research Institute of Industrial Economics in its series Working Paper Series with number 916.

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Length: 68 pages
Date of creation: 23 May 2012
Date of revision:
Handle: RePEc:hhs:iuiwop:0916

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Postal: Research Institute of Industrial Economics, Box 55665, SE-102 15 Stockholm, Sweden
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Keywords: Trade agreements; GATT; WTO;

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  1. Crowley, Meredith A. & Palmeter, David, 2009. "Japan – Countervailing Duties on Dynamic Random Access Memories from Korea (DS 336 and Corr.1, adopted 17 December 2007)," World Trade Review, Cambridge University Press, vol. 8(01), pages 259-272, January.
  2. Copeland, Brian R., 1990. "Strategic enhancement and destruction of fisheries and the environment in the presence of international externalities," Journal of Environmental Economics and Management, Elsevier, vol. 19(3), pages 213-226, November.
  3. André Sapir & Joel Trachtman, 2008. "Subsidization, price suppression, and expertise: causation and precision in upland cotton," ULB Institutional Repository 2013/8092, ULB -- Universite Libre de Bruxelles.
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