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A Shifting Mandate:International Ownership, Global Fragmentation and A Case for Deeper Integration under the WTO

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  • Emily J. Blanchard

Abstract

This paper reviews several key implications of international investment and global supply chain fragmentation for the multilateral trading system. Based on existing economic research, I identify a two-fold challenge for policy makers: first, to leverage the trade-liberalizing potential of global fragmentation at the multilateral level; and second, to counter the potential for opportunistic manipulation of behind-the-border policy instruments.

Suggested Citation

  • Emily J. Blanchard, 2014. "A Shifting Mandate:International Ownership, Global Fragmentation and A Case for Deeper Integration under the WTO," RSCAS Working Papers 2014/111, European University Institute.
    • Handle: RePEc:rsc:rsceui:2014/111
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    References listed on IDEAS

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    1. Emily J. Blanchard, 2009. "Trade taxes and international investment," Canadian Journal of Economics/Revue canadienne d'économique, John Wiley & Sons, vol. 42(3), pages 882-899, August.
    2. Richard Baldwin, 2010. "Unilateral Tariff Liberalisation," NBER Working Papers 16600, National Bureau of Economic Research, Inc.
    3. Stockman, Alan C. & Dellas, Harris, 1986. "Asset markets, tariffs, and political risk," Journal of International Economics, Elsevier, vol. 21(3-4), pages 199-213, November.
    4. Blanchard, Emily J., 2010. "Reevaluating the role of trade agreements: Does investment globalization make the WTO obsolete?," Journal of International Economics, Elsevier, vol. 82(1), pages 63-72, September.
    5. Blanchard Emily J, 2007. "Foreign Direct Investment, Endogenous Tariffs, and Preferential Trade Agreements," The B.E. Journal of Economic Analysis & Policy, De Gruyter, vol. 7(1), pages 1-52, November.
    6. Kojima, Kiyoshi, 1975. "International Trade and Foreign Investment : Substitutes or Complements," Hitotsubashi Journal of Economics, Hitotsubashi University, vol. 16(1), pages 1-12, June.
    7. Devereux, Michael B. & Min Lee, Khang, 1999. "Endogenous trade policy and the gains from international financial markets," Journal of Monetary Economics, Elsevier, vol. 43(1), pages 35-59, February.
    8. Pol Antràs & Robert W. Staiger, 2012. "Offshoring and the Role of Trade Agreements," American Economic Review, American Economic Association, vol. 102(7), pages 3140-3183, December.
    9. Emily Blanchard & Xenia Matschke, 2015. "U.S. Multinationals and Preferential Market Access," The Review of Economics and Statistics, MIT Press, vol. 97(4), pages 839-854, October.
    10. Robert W. Staiger & Alan O. Sykes, 2011. "International Trade, National Treatment, and Domestic Regulation," The Journal of Legal Studies, University of Chicago Press, vol. 40(1), pages 149-203.
    11. Pol Antras & Robert W. Staiger, 2012. "Trade Agreements and the Nature of Price Determination," American Economic Review, American Economic Association, vol. 102(3), pages 470-476, May.
    12. Emily J. Blanchard, 2009. "Trade taxes and international investment," Canadian Journal of Economics, Canadian Economics Association, vol. 42(3), pages 882-899, August.
    13. Ronald W. Jones, 1967. "International Capital Movements and the Theory of Tariffs and Trade," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 81(1), pages 1-38.
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    Cited by:

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    2. Fiorini, Matteo; Lebrand, Mathilde, 2016. "The Political Economy of Services Trade Agreements," Economics Working Papers ECO2016/05, European University Institute.
    3. Ornelas, Emanuel & Turner, John L. & Bickwit, Grant, 2021. "Preferential trade agreements and global sourcing," Journal of International Economics, Elsevier, vol. 128(C).
    4. Ka Zeng & Karen Sebold & Yue Lu, 2020. "Global value chains and corporate lobbying for trade liberalization," The Review of International Organizations, Springer, vol. 15(2), pages 409-443, April.
    5. Taherzadeh, Oliver, 2020. "Locating pressures on water, energy and land resources across global supply chains," SocArXiv ue45p, Center for Open Science.
    6. Bernard Hoekman & Douglas Nelson, 2018. "21st Century Trade Agreements and the Owl of Minerva," RSCAS Working Papers 2018/04, European University Institute.
    7. Bernard Hoekman & Douglas Nelson, 2020. "Subsidies, Spillovers and Multilateral Cooperation," RSCAS Working Papers 2020/12, European University Institute.
    8. Vlatka Bilas, 2018. "World Trade Organization and regional economic integrations: together in future or not?," International Studies, Libertas International University, vol. 18(1-2), pages 49-64.

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    WTO; trade;

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