The Unbalanced Uruguay Round Outcome: The New Areas in Future WTO Negotiations
AbstractThe Uruguay Round involved a grand North-South bargain: The North reduced import barriers, particularly in textiles and agriculture. The South adopted new domestic regulations in such areas as services and intellectual property—changes that would lead to increased purchases from the North. In mercantilist economics, apples for apples—imports for imports. In real economics, apples for oranges. Finger and Nogués argue that while the North’s reduction of import barriers benefits both the North and the South, the new domestic regulations adopted by countries of the South could prove costly to those countries. To begin with, the regulations will be expensive to implement. And while the cost side of their impact is secured by a legal obligation (in the case of intellectual property rights, for example, the cost is higher prices for patented goods), the benefits side is not so secured.
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Date of creation: 09 Feb 2005
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Uruguay Round; Services negotiations; Doha Round reciprocity;
Other versions of this item:
- J. Michael Finger & Julio J. Nogués, 2002. "The Unbalanced Uruguay Round Outcome: The New Areas in Future WTO Negotiations," The World Economy, Wiley Blackwell, vol. 25(3), pages 321-340, 03.
- Finger, J. Michael & Nogues, Julio J., 2001. "The unbalanced Ururguay Round outcome : the new areas in future WTO negotiations," Policy Research Working Paper Series 2732, The World Bank.
- F1 - International Economics - - Trade
- F2 - International Economics - - International Factor Movements and International Business
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- NEP-ALL-2005-04-16 (All new papers)
- NEP-INT-2005-04-16 (International Trade)
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