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Problémy mezi národního obchodu sever - jih jako hlavní příčina potíží světové obchodní organizace
[Problems of north-south international trade as the main reason of world trade organization difficulties]

Author

Listed:
  • Jiří Fárek
  • Jaroslav Foltýn

Abstract

This article tries to summarize achievements of ten years anniversary of WTO (1995-2005) and the negotiations taking place at its summits from Seattle (1999) to Hongkong (2005). These achievements could be characterized at best as mediocre ones. WTO has been muddling through numerous disputes, the most important of which have been and still are agricultural subsidies of developed countries. Due to double standards and sometimes lack of transparency at least three summits (Seattle, Cancún and Doha) almost failed and the Katar Round ended deadlocked for 2004. The last Hongkong summit (December 2005) saved WTO functionality mainly through some concessions demanded by developing countries" since 1998. Katar Round, unfortunately, is still far from any safe landing. Nevertheless, the article praises some good results, too. The whole decade of such partial and practical struggling open, hovewer, also some issues important for theory of international economics, for example such as optimality of global vers. regional-subregional options for the future international trade liberalization, etc. The article, of course, cannot pretend solving but only draws attention of academic research resp. sorting them and establishing their hierarchy.

Suggested Citation

  • Jiří Fárek & Jaroslav Foltýn, 2007. "Problémy mezi národního obchodu sever - jih jako hlavní příčina potíží světové obchodní organizace
    [Problems of north-south international trade as the main reason of world trade organization diffic
    ," Politická ekonomie, University of Economics, Prague, vol. 2007(4), pages 508-525.
  • Handle: RePEc:prg:jnlpol:v:2007:y:2007:i:4:id:611:p:508-525
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    References listed on IDEAS

    as
    1. Graciela L. Kaminsky, 1998. "Currency and banking crises: the early warnings of distress," International Finance Discussion Papers 629, Board of Governors of the Federal Reserve System (U.S.).
    2. Graciela Kaminsky & Saul Lizondo & Carmen M. Reinhart, 1998. "Leading Indicators of Currency Crises," IMF Staff Papers, Palgrave Macmillan, vol. 45(1), pages 1-48, March.
    3. Graciela L. Kaminsky & Carmen M. Reinhart & Carlos A. Végh, 2005. "When It Rains, It Pours: Procyclical Capital Flows and Macroeconomic Policies," NBER Chapters,in: NBER Macroeconomics Annual 2004, Volume 19, pages 11-82 National Bureau of Economic Research, Inc.
    4. Martin Schneider & Aaron Tornell, 2004. "Balance Sheet Effects, Bailout Guarantees and Financial Crises," Review of Economic Studies, Oxford University Press, vol. 71(3), pages 883-913.
    5. Joon-Ho Hahm & Frederic S. Mishkin, 2000. "Causes of the Korean Financial Crisis: Lessons for Policy," NBER Working Papers 7483, National Bureau of Economic Research, Inc.
    6. Carmen M. Reinhart & Kenneth S. Rogoff, 2004. "Serial Default and the "Paradox" of Rich-to-Poor Capital Flows," American Economic Review, American Economic Association, pages 53-58.
    7. Reuven Glick & Ramon Moreno & Mark M. Spiegel, 2001. "Financial crises in emerging markets," FRBSF Economic Letter, Federal Reserve Bank of San Francisco, issue mar.23.
    8. Giancarlo Corsetti & Paolo Pesenti & Nouriel Roubini, 1998. "What Caused the Asian Currency and Financial Crisis? Part I: A Macroeconomic Overview," NBER Working Papers 6833, National Bureau of Economic Research, Inc.
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    More about this item

    Keywords

    globalization; world economy; international trade; developing countries; agriculture protectionism; World Trade Organization; trade negotiations; bilateral trade agreements;

    JEL classification:

    • F20 - International Economics - - International Factor Movements and International Business - - - General
    • F40 - International Economics - - Macroeconomic Aspects of International Trade and Finance - - - General
    • L12 - Industrial Organization - - Market Structure, Firm Strategy, and Market Performance - - - Monopoly; Monopolization Strategies

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