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The challenge of reducing subsidies and trade barriers

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  • Anderson, Kym

Abstract

This is one of 10 studies for the Copenhagen Consensus Project that sought to evaluate the most feasible opportunities to improve welfare globally and alleviate poverty in developing countries. The author argues that phasing out distortionary government subsidies and barriers to international trade will yield an extraordinarily high benefit-cost ratio. A survey is provided of recent estimates using global economy-wide simulation models of the benefits of doing that by way of the current Doha round of multilateral trade negotiations. Even if adjustment costs are several times as large as suggested by available estimates, the benefit-cost ratio from seizing this opportunity exceeds 20. That is much higher than the rewards from regional or bilateral trade agreements or from providing preferential access for least-developed countries'exports to high-income countries. Such reform would simultaneously contribute to alleviating several of the other key challenges reflected in the United Nation's Millennium Development Goals.

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Bibliographic Info

Paper provided by The World Bank in its series Policy Research Working Paper Series with number 3415.

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Date of creation: 01 Sep 2004
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Handle: RePEc:wbk:wbrwps:3415

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Keywords: Trade Policy; Environmental Economics&Policies; Payment Systems&Infrastructure; Economic Theory&Research; Rules of Origin; Environmental Economics&Policies; TF054105-DONOR FUNDED OPERATION ADMINISTRATION FEE INCOME AND EXPENSE ACCOUNT; Trade Policy; Trade and Regional Integration; Economic Theory&Research;

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  1. Fontagné, Lionel & Guérin, Jean-Louis & Jean, Sébastien, 2005. "Market Access Liberalisation in the Doha Round : Scenarios and Assessment," Economics Papers from University Paris Dauphine 123456789/6498, Paris Dauphine University.
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  9. L. Alan Winters & Neil McCulloch & Andrew McKay, 2004. "Trade Liberalization and Poverty: The Evidence So Far," Journal of Economic Literature, American Economic Association, vol. 42(1), pages 72-115, March.
  10. Jeffrey G. Williamson, 2002. "Winners and Losers Over Two Centuries of Globalization," NBER Working Papers 9161, National Bureau of Economic Research, Inc.
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Cited by:
  1. Konov, Joshua Ioji / JK, 2013. "Enhancing Markets (i.e. Economies) Transmissionability to Optimize Monetary Policies’ Effect," MPRA Paper 46950, University Library of Munich, Germany.
  2. Jayatilleke S. Bandara, 2007. "The Effects of Agricultural Trade Liberalisation under the Doha Development Agenda with Special Reference to the Asia Pacific Region: A Brief Survey," Working Papers 3107, Asia-Pacific Research and Training Network on Trade (ARTNeT), an initiative of UNESCAP and IDRC, Canada..
  3. Gawel, Erik & Bernsen, Kristina, 2011. "What is wrong with virtual water trading?," UFZ Discussion Papers 1/2011, Helmholtz Centre for Environmental Research (UFZ), Division of Social Sciences (ÖKUS).
  4. Tony Addison, 2010. "Agricultural Development for Peace," Working Papers id:2551, eSocialSciences.
  5. Fernando Alvarez & Robert E. Lucas, 2005. "General Equilibrium Analysis of the Eaton-Kortum Model of International Trade," NBER Working Papers 11764, National Bureau of Economic Research, Inc.
  6. Tony Addison, 2009. "Post-Conflict Recovery: Does the Global Economy Work for Peace?," Working Papers id:2299, eSocialSciences.
  7. Moshirian, Fariborz, 2005. "Global financial markets integration and Millennium Goals," Journal of Multinational Financial Management, Elsevier, vol. 15(4-5), pages 302-313, October.

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