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Open Plurilateral Agreements, International Regulatory Cooperation and the WTO

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  • Bernard Hoekman
  • Charles Sabel

Abstract

Sustained high growth in many developing countries (‘the rise of the rest’) combined with long-standing WTO working practices hampers the ability of the WTO to perform its routine functions and paralyzes efforts to adapt to new circumstances. Preferential trade agreements have taken up some of the slack in addressing differences in domestic regulation of product safety, environmental and social conditions, but are exclusionary and inefficient from a global perspective. In this paper, we argue that a new type of agreement based on open plurilateral cooperation offers better prospects for groups of countries to explore and develop their potential common interests on regulatory matters, while safeguarding core aspects of their national regulatory sovereignty and in-creasing the possibility of regenerating the WTO from within.

Suggested Citation

  • Bernard Hoekman & Charles Sabel, 2019. "Open Plurilateral Agreements, International Regulatory Cooperation and the WTO," RSCAS Working Papers 2019/10, European University Institute.
    • Handle: RePEc:rsc:rsceui:2019/10
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    Cited by:

    1. Bernard M. Hoekman & Petros C. Mavroidis & Douglas R. Nelson, 2023. "Geopolitical competition, globalisation and WTO reform," The World Economy, Wiley Blackwell, vol. 46(5), pages 1163-1188, May.
    2. Nelson, Douglas, 2021. "How Do You Solve a Problem Like Maria? US – Countervailing Measures (China) (21.5)," World Trade Review, Cambridge University Press, vol. 20(4), pages 556-565, October.
    3. Christopher Findlay & Bernard Hoekman, 2021. "Value chain approaches to reducing policy spillovers on international business," Journal of International Business Policy, Palgrave Macmillan, vol. 4(3), pages 390-409, September.
    4. Akira Okada & Yasuhiro Shirata, 2021. "The Formation of Global Free Trade Agreement," Papers 2103.16118, arXiv.org, revised Mar 2021.
    5. Bernard Hoekman & Charles Sabel, 2021. "Plurilateral Cooperation as an Alternative to Trade Agreements: Innovating One Domain at a Time," Global Policy, London School of Economics and Political Science, vol. 12(S3), pages 49-60, April.
    6. Bacchetta, Marc & Bekkers, Eddy & Piermartini, Roberta & Rubinova, Stela & Stolzenburg, Victor & Xu, Ankai, 2021. "COVID-19 and global value chains: A discussion of arguments on value chain organization and the role of the WTO," WTO Staff Working Papers ERSD-2021-3, World Trade Organization (WTO), Economic Research and Statistics Division.
    7. Bernard M Hoekman & Petros C Mavroidis & Sunayana Sasmal, 2023. "Managing Externalities in the WTO: The Agreement On Fisheries Subsidies," Journal of International Economic Law, Oxford University Press, vol. 26(2), pages 266-284.
    8. Bernard Hoekman & Petros C. Mavroidis, 2021. "WTO Reform: Back to the Past to Build for the Future," Global Policy, London School of Economics and Political Science, vol. 12(S3), pages 5-12, April.
    9. Bernard Hoekman & Douglas Nelson, 2020. "Rethinking international subsidy rules," The World Economy, Wiley Blackwell, vol. 43(12), pages 3104-3132, December.
    10. Manfred Elsig & Sebastian Klotz, 2021. "Digital Trade Rules in Preferential Trade Agreements: Is There a WTO Impact?," Global Policy, London School of Economics and Political Science, vol. 12(S4), pages 25-36, May.
    11. Bernard Hoekman, 2020. "Trade Wars and the World Trade Organization: Causes, Consequences, and Change," Asian Economic Policy Review, Japan Center for Economic Research, vol. 15(1), pages 98-114, January.
    12. Bernard Hoekman & Matteo Fiorini & Aydin Yildirim, 2020. "Export Restrictions: A Negative-Sum Policy Response to the COVID-19 crisis," RSCAS Working Papers 2020/23, European University Institute.

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    Keywords

    Regulation; international cooperation; trade; WTO; plurilateral agreements;
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