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An introduction to the WTO and GATT

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  • Meredith A. Crowley

Abstract

This article reviews the history of GATT and the WTO. It discusses the founding principles of the post-WW II world trading system--reciprocity and nondiscrimination. Lastly, the article reviews the economics literature on regional trade agreements and administered protection, two important exceptions to GATT's requirement in trade policy.

Suggested Citation

  • Meredith A. Crowley, 2003. "An introduction to the WTO and GATT," Economic Perspectives, Federal Reserve Bank of Chicago, issue Q IV, pages 42-57.
  • Handle: RePEc:fip:fedhep:y:2003:i:qiv:p:42-57:n:v.27no.4
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    References listed on IDEAS

    as
    1. Staiger, Robert W. & Wolak, Frank A., 1992. "The effect of domestic antidumping law in the presence of foreign monopoly," Journal of International Economics, Elsevier, pages 265-287.
    2. Pesendorfer, Wolfgang, 1995. "Design Innovation and Fashion Cycles," American Economic Review, American Economic Association, pages 771-792.
    3. Ronald D. Fischer & 1998, 1998. "Contingent protection as better insurance," Documentos de Trabajo 49, Centro de Economía Aplicada, Universidad de Chile.
    4. Miyagiwa, Kaz & Ohno, Yuka, 1999. "Credibility of Protection and Incentives to Innovate," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 40(1), pages 143-163, February.
    5. Dixit, Avinash, 1988. "Anti-dumping and countervailing duties under oligopoly," European Economic Review, Elsevier, vol. 32(1), pages 55-68, January.
    6. Levy, Philip I, 1997. "A Political-Economic Analysis of Free-Trade Agreements," American Economic Review, American Economic Association, pages 506-519.
    7. Collie, David, 1991. "Export subsidies and countervailing tariffs," Journal of International Economics, Elsevier, pages 309-324.
    8. Caroline Freund, 2000. "Different Paths to Free Trade: The Gains from Regionalism," The Quarterly Journal of Economics, Oxford University Press, pages 1317-1341.
    9. Bagwell,K. & Staiger,R.W., 1999. "Multilateral trade negotiations, bilateral opportunism and the rules of GATT," Working papers 6, Wisconsin Madison - Social Systems.
    10. Matsuyama, Kiminori, 1990. "Perfect Equilibria in a Trade Liberalization Game," American Economic Review, American Economic Association, pages 480-492.
    11. Brainard, S. Lael & Verdier, Thierry, 1997. "The political economy of declining industries: Senescent industry collapse revisited," Journal of International Economics, Elsevier, pages 221-237.
    12. Jagdish Bhagwati, 1992. "Regionalism versus Multilateralism," The World Economy, Wiley Blackwell, vol. 15(5), pages 535-556, September.
    13. Frank Dietrich & Hartmut Kliemt & Michael Imhoff, 2002. "Introduction," Homo Oeconomicus, Institute of SocioEconomics, pages 7-8.
    14. Thomas J. Prusa, 2001. "On the spread and impact of anti-dumping," Canadian Journal of Economics, Canadian Economics Association, vol. 34(3), pages 591-611, August.
    15. John McLaren, 2002. "A Theory of Insidious Regionalism," The Quarterly Journal of Economics, Oxford University Press, pages 571-608.
    16. Spencer, Barbara J., 1988. "Capital subsidies and countervailing duties in oligopolistic industries," Journal of International Economics, Elsevier, pages 45-69.
    17. Wilfred J. Ethier, 2002. "Unilateralism in a Multilateral World," Economic Journal, Royal Economic Society, vol. 112(479), pages 266-292, April.
    18. Crowley, Meredith A., 2006. "Do safeguard tariffs and antidumping duties open or close technology gaps?," Journal of International Economics, Elsevier, pages 469-484.
    19. Meredith A. Crowley, 2002. "Do safeguard tariffs and antidumping duties open or close technology gaps?," Working Paper Series WP-02-13, Federal Reserve Bank of Chicago.
    20. Staiger, Robert W. & Wolak, Frank A., 1992. "The effect of domestic antidumping law in the presence of foreign monopoly," Journal of International Economics, Elsevier, pages 265-287.
    21. Hillman, Arye L, 1984. "Declining Industries and Political-Support Protectionist Motives: Errata," American Economic Review, American Economic Association, pages 260-260.
    22. Richard Arena, 2002. "Introduction," Revue d'économie politique, Dalloz, vol. 112(5), pages 627-633.
    23. Bond, Eric W. & Syropoulos, Constantinos, 1996. "The size of trading blocs Market power and world welfare effects," Journal of International Economics, Elsevier, pages 411-437.
    24. Sampson, Gary P, 1996. "Compatibility of Regional and Multilateral Trading Agreements: Reforming the WTO Process," American Economic Review, American Economic Association, pages 88-92.
    25. Bagwell, Kyle & Staiger, Robert W, 1997. "Multilateral Tariff Cooperation during the Formation of Free Trade Areas," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 38(2), pages 291-319, May.
    26. Kiminori Matsuyama, 1987. "Perfect Equilibria in a Trade Liberalization Game," Discussion Papers 738, Northwestern University, Center for Mathematical Studies in Economics and Management Science.
    27. Gruenspecht, Howard K., 1988. "Dumping and dynamic competition," Journal of International Economics, Elsevier, pages 225-248.
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    Citations

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    Cited by:

    1. Rachel McCulloch, 2010. "The International Trading System and Its Future," Working Papers 08, Brandeis University, Department of Economics and International Businesss School.
    2. Chad P. Bown & Meredith A. Crowley & Rachel McCulloch & Daisuke J. Nakajima, 2005. "The U.S. trade deficit: made in China?," Economic Perspectives, Federal Reserve Bank of Chicago, pages 2-18.
    3. Meredith A. Crowley & Xi Luo, 2011. "Understanding the great trade collapse of 2008–09 and the subsequent trade recovery," Economic Perspectives, Federal Reserve Bank of Chicago, pages 44-68.

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