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The World Trading System, 2nd Edition: Law and Policy of International Economic Relations

Author

Listed:
  • John H. Jackson

    () (Georgetown University)

Abstract

Since the first edition of The World Trading System was published in 1989, the Uruguay Round of trade negotiations has been completed, and most governments have ratified and are in the process of implementing the General Agreement on Tariffs and Trade (GATT). In the Uruguay Round, more than 120 nations negotiated for over eight years, to produce a document of some 26,000 pages. This new edition of The World Trading System takes account of these and other developments. Like the first edition, however, its treatment of topical issues is grounded in the fundamental legal, constitutional, institutional, and political realities that mold trade policy. Thus the book continues to serve as an introduction to the study of trade law and policy. Two basic premises of The World Trading System are that economic concerns are central to foreign affairs, and that national economies are growing more interdependent. The author presents the economic principles of international trade policy and then examines how they operate under real- world constraints. In particular, he examines the extremely elaborate system of rules that governs international economic relations. Until now, the bulk of international trade policy has addressed trade in goods; issues inadequately addressed by policy include trade in services, intellectual property rights, certain investment measures, and agriculture. The author highlights the tension between legal rules, designed to create predictability and stability, and the governments need to make exceptions to solve short-term problems. He also looks at weaknesses of international trade policy, especially as it applies to developing countries and economies in transition. He concludes with a look at issues that will shape international trade policy well into the twenty-first century.

Suggested Citation

  • John H. Jackson, 1997. "The World Trading System, 2nd Edition: Law and Policy of International Economic Relations," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262600277, January.
  • Handle: RePEc:mtp:titles:0262600277
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    Citations

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    Cited by:

    1. Lili Yan Ing & Olivier Cadot & Muhammad Rizqy Anandhika & Shujiro Urata, . "Non-Tariff Measures in ASEAN: A Simple Proposal," Chapters, Economic Research Institute for ASEAN and East Asia (ERIA).
    2. Ludema, Rodney D. & Mayda, Anna Maria, 2009. "Do countries free ride on MFN?," Journal of International Economics, Elsevier, vol. 77(2), pages 137-150, April.
    3. Paola Conconi & Carlo Perroni, 2005. "Conditionality, Separation, and Open Rules in Multilateral Institutions," ULB Institutional Repository 2013/5843, ULB -- Universite Libre de Bruxelles.
    4. Basyah, Mohammad & Hartigan, James C., 2007. "Analyst earnings forecast revisions and the persistence of antidumping relief," International Review of Economics & Finance, Elsevier, vol. 16(3), pages 383-399.
    5. Hartigan James C., 2015. "Did the Agreement on Safeguards Nullify their Use?," Global Economy Journal, De Gruyter, vol. 15(1), pages 155-172, March.
    6. Aghion, Philippe & Antras, Pol & Helpman, Elhanan, 2007. "Negotiating free trade," Journal of International Economics, Elsevier, vol. 73(1), pages 1-30, September.
    7. Richard E. Baldwin, 2011. "Multilateralising Regionalism: Spaghetti Bowls as Building Blocks on the Path to Global Free Trade," Chapters,in: International Handbook on the Economics of Integration, Volume I, chapter 2 Edward Elgar Publishing.
    8. Götz, Christian & Heckelei, Thomas & Rudloff, Bettina, 2010. "What makes countries initiate WTO disputes on food-related issues?," Food Policy, Elsevier, vol. 35(2), pages 154-162, April.
    9. Obijiofor Aginam & John Harrington, 2013. "Introduction," Chapters,in: The Global Governance of HIV/AIDS, chapter 1, pages 1-13 Edward Elgar Publishing.
    10. Nelson, Douglas, 2006. "The political economy of antidumping: A survey," European Journal of Political Economy, Elsevier, vol. 22(3), pages 554-590, September.
    11. Karacaovali, Baybars & Limão, Nuno, 2008. "The clash of liberalizations: Preferential vs. multilateral trade liberalization in the European Union," Journal of International Economics, Elsevier, vol. 74(2), pages 299-327, March.
    12. Mondré Aletta & Neubauer Gerald & Helmedach Achim & Zangl Bernhard, 2010. "Uneven Judicialization: Comparing International Dispute Settlement in Security, Trade, and the Environment," New Global Studies, De Gruyter, vol. 4(1), pages 1-34, August.
    13. Bown,Chad P. & Reynolds,Kara Marie, 2015. "Trade agreements and enforcement : evidence from WTO dispute settlement," Policy Research Working Paper Series 7242, The World Bank.
    14. Ketterer, Tobias D. & Bernhofen, Daniel M. & Milner, Chris, 2015. "The impact of trade preferences on multilateral tariff cuts: Evidence for Japan," Journal of the Japanese and International Economies, Elsevier, vol. 38(C), pages 31-51.
    15. Kagitani, Koichi & Harimaya, Kozo, 2015. "Safeguards and voluntary export restraints under the World Trade Organization," Japan and the World Economy, Elsevier, vol. 36(C), pages 29-41.
    16. Ozden, Caglar & Reinhardt, Eric, 2005. "The perversity of preferences: GSP and developing country trade policies, 1976-2000," Journal of Development Economics, Elsevier, vol. 78(1), pages 1-21, October.
    17. Beshkar, Mostafa, 2009. "Trade skirmishes and safeguards: A theory of the WTO Dispute Settlement Process," WTO Staff Working Papers ERSD-2009-09, World Trade Organization (WTO), Economic Research and Statistics Division.
    18. Mahmood Bagheri & Mohammad Jafar Ghanbari Jahromi, 2016. "Globalization and extraterritorial application of economic regulation: crisis in international law and balancing interests," European Journal of Law and Economics, Springer, vol. 41(2), pages 393-429, April.
    19. Nuno Limão, 2016. "Preferential Trade Agreements," NBER Working Papers 22138, National Bureau of Economic Research, Inc.
    20. Spearot, Alan C., 2013. "Variable demand elasticities and tariff liberalization," Journal of International Economics, Elsevier, vol. 89(1), pages 26-41.
    21. Bown, Chad P., 2004. "The Economics of the World Trading System: Kyle Bagwell and Robert W. Staiger, The Economics of the World Trading System, MIT Press, 2002," Journal of International Economics, Elsevier, vol. 62(1), pages 239-243, January.

    More about this item

    Keywords

    Uruguay Round; trade law; international trade policy;

    JEL classification:

    • F13 - International Economics - - Trade - - - Trade Policy; International Trade Organizations
    • K33 - Law and Economics - - Other Substantive Areas of Law - - - International Law
    • F53 - International Economics - - International Relations, National Security, and International Political Economy - - - International Agreements and Observance; International Organizations

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