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The GATT/WTO Welfare Effects: 1950-2015

Author

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  • Chang, Pao-Li

    (School of Economics, Singapore Management University)

  • Jin, Wei

    (School of Economics, Singapore Management University)

Abstract

This paper provides a comprehensive evaluation of the welfare impact of GATT/WTO in its entire history of 1950-2015 for 180 countries. The analysis embeds nonparametric matching methods in structural quantitative simulations. The results indicate substantial (but highly heterogeneous) welfare gains created by GATT/WTO at the global level and across more than six decades of its history. An extensive set of robustness checks with respect to model speci fications, parameter values, and matching estimations are provided. We also characterize the effects of GATT/WTO on global income disparity, its interaction with preferential trade agreements, and the effects of China's WTO entry.

Suggested Citation

  • Chang, Pao-Li & Jin, Wei, 2017. "The GATT/WTO Welfare Effects: 1950-2015," Economics and Statistics Working Papers 2-2018, Singapore Management University, School of Economics.
    • Handle: RePEc:ris:smuesw:2018_002
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    More about this item

    Keywords

    Matching estimator; Quantitative analysis; Welfare; Fi rm entry; Income disparity;
    All these keywords.

    JEL classification:

    • F13 - International Economics - - Trade - - - Trade Policy; International Trade Organizations
    • F14 - International Economics - - Trade - - - Empirical Studies of Trade
    • F17 - International Economics - - Trade - - - Trade Forecasting and Simulation

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