IDEAS home Printed from https://ideas.repec.org/a/pts/journl/y2014i2p78-86.html
   My bibliography  Save this article

The Advantages Of Wto Commercial System

Author

Listed:
  • Alina HAGIU

    (Faculty of Economics, University of Pitesti, Romania)

  • Marinela BARBULESCU

    (Faculty of Economics, University of Pitesti, Romania)

  • Victoria-Mihaela BRINZEA

    (Faculty of Economics, University of Pitesti, Romania)

Abstract

The WTO was created in 1995 with the propose to encourage and regulate trade between its member states. The primary objective of the WTO was and still is to create economic growth and encourage free trade among nations. This aspect was disputed between specialists: some say that the WTO creates economic opportunities and that its positive impact extends beyond just economic benefits by creating an international framework of political stability, offering a solid foundation for promoting international peace by encouraging good political relations among member nations and providing a solid dispute resolution process, while others say it is disfavors lower class citizens, limiting their opportunities for social and economic mobility, is only widening the global income gap between the wealthy and poor: as the rich get richer, the poor get poorer and it favors prosperous countries and multinational corporations, while preventing smaller and poorer countries from having a fair shot of engaging in open market trades and exchanges. In this paper we will stop only to emphasize the advantages of the WTO commercial system, following that in a future work to approach also the disadvantages of this commercial system.

Suggested Citation

  • Alina HAGIU & Marinela BARBULESCU & Victoria-Mihaela BRINZEA, 2014. "The Advantages Of Wto Commercial System," Scientific Bulletin - Economic Sciences, University of Pitesti, vol. 13(2), pages 78-86.
  • Handle: RePEc:pts:journl:y:2014:i:2:p:78-86
    as

    Download full text from publisher

    File URL: http://economic.upit.ro/repec/pdf/2014_2_8.pdf
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Subramanian, Arvind & Wei, Shang-Jin, 2007. "The WTO promotes trade, strongly but unevenly," Journal of International Economics, Elsevier, vol. 72(1), pages 151-175, May.
    2. Goldstein, Judith L. & Rivers, Douglas & Tomz, Michael, 2007. "Institutions in International Relations: Understanding the Effects of the GATT and the WTO on World Trade," International Organization, Cambridge University Press, vol. 61(1), pages 37-67, January.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Brotto, André & Jakubik, Adam & Piermartini, Roberta, 2021. "WTO accession and growth: Tang and Wei Redux," WTO Staff Working Papers ERSD-2021-1, World Trade Organization (WTO), Economic Research and Statistics Division.
    2. Gnangnon, Sèna Kimm, 2022. "Duration of WTO Membership and Investment-Oriented Remittances Flows," EconStor Preprints 251274, ZBW - Leibniz Information Centre for Economics.
    3. Emanuel Ornelas & Marcos Ritel, 2020. "The not‐so‐generalised effects of the Generalized System of Preferences," The World Economy, Wiley Blackwell, vol. 43(7), pages 1809-1840, July.
    4. Lee, Jiwon & Wittgenstein, Teresa, 2017. "Weak vs. Strong Ties: Explaining Early Settlement in WTO Disputes," ILE Working Paper Series 7, University of Hamburg, Institute of Law and Economics.
    5. Choudhury, Sanchari, 2019. "WTO membership and corruption," European Journal of Political Economy, Elsevier, vol. 60(C).
    6. Majumder, Monoj Kumar & Raghavan, Mala & Vespignani, Joaquin, 2020. "Oil curse, economic growth and trade openness," Energy Economics, Elsevier, vol. 91(C).
    7. Mark Copelovitch & David Ohls, 2012. "Trade, institutions, and the timing of GATT/WTO accession in post-colonial states," The Review of International Organizations, Springer, vol. 7(1), pages 81-107, March.
    8. Aliyev, Khatai, 2014. "Expected Macroeconomic Impacts of the Accession to WTO on Azerbaijan Economy: Empirical Analysis," MPRA Paper 55096, University Library of Munich, Germany.
    9. Leslie Johns, 2014. "Depth versus rigidity in the design of international trade agreements," Journal of Theoretical Politics, , vol. 26(3), pages 468-495, July.
    10. Samuel Admassu, 0. "The trade creation effects of Africa’s reciprocal vis-à-vis non-reciprocal trade agreements," Empirical Economics, Springer, vol. 0, pages 1-14.
    11. Salvador Gil-Pareja, 2011. "Do nonreciprocal preference regimes increase exports?," ERSA conference papers ersa11p1561, European Regional Science Association.
    12. Kim Myeong Hwan, 2011. "Do We Really Know That the WTO Increases Trade? Revisited," Global Economy Journal, De Gruyter, vol. 11(2), pages 1-21, July.
    13. Gil-Pareja, Salvador & Llorca-Vivero, Rafael & Martínez-Serrano, José Antonio, 2014. "Do nonreciprocal preferential trade agreements increase beneficiaries' exports?," Journal of Development Economics, Elsevier, vol. 107(C), pages 291-304.
    14. Samuel Admassu, 2020. "The trade creation effects of Africa’s reciprocal vis-à-vis non-reciprocal trade agreements," Empirical Economics, Springer, vol. 59(6), pages 2717-2730, December.
    15. Kim Myeong Hwan & Kim Dongsoo & Han Yongseung, 2008. "The Impact of International Institutions on Bilateral Trade: Economic and Political," Global Economy Journal, De Gruyter, vol. 8(4), pages 1-22, December.
    16. Oh, Chang Hoon & Travis Selmier, W. & Lien, Donald, 2011. "International trade, foreign direct investment, and transaction costs in languages," Journal of Behavioral and Experimental Economics (formerly The Journal of Socio-Economics), Elsevier, vol. 40(6), pages 732-735.
    17. Elhanan Helpman & Marc Melitz & Yona Rubinstein, 2008. "Estimating Trade Flows: Trading Partners and Trading Volumes," The Quarterly Journal of Economics, Oxford University Press, vol. 123(2), pages 441-487.
    18. Mercedes Campi & Marco Due~nas & Le Li & Huabin Wu, 2018. "Diversification, economies of scope, and exports growth of Chinese firms," Papers 1801.02681, arXiv.org, revised Jan 2018.
    19. Marco Dueñas & Giorgio Fagiolo, 2013. "Modeling the International-Trade Network: a gravity approach," Journal of Economic Interaction and Coordination, Springer;Society for Economic Science with Heterogeneous Interacting Agents, vol. 8(1), pages 155-178, April.
    20. Andrew K. Rose & T. D. Stanley, 2005. "A Meta‐Analysis of the Effect of Common Currencies on International Trade," Journal of Economic Surveys, Wiley Blackwell, vol. 19(3), pages 347-365, July.

    More about this item

    Keywords

    trade; trade policy; agreements; international organizations; negotiations.;
    All these keywords.

    JEL classification:

    • F53 - International Economics - - International Relations, National Security, and International Political Economy - - - International Agreements and Observance; International Organizations
    • F59 - International Economics - - International Relations, National Security, and International Political Economy - - - Other
    • O19 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - International Linkages to Development; Role of International Organizations

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:pts:journl:y:2014:i:2:p:78-86. See general information about how to correct material in RePEc.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: . General contact details of provider: https://edirc.repec.org/data/fepitro.html .

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Alina Hagiu The email address of this maintainer does not seem to be valid anymore. Please ask Alina Hagiu to update the entry or send us the correct address (email available below). General contact details of provider: https://edirc.repec.org/data/fepitro.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service hosted by the Research Division of the Federal Reserve Bank of St. Louis . RePEc uses bibliographic data supplied by the respective publishers.