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Proposals for WTO reform : a synthesis and assessment

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  • Hoekman, Bernard

Abstract

This paper summarizes the major arguments and proposals to reform the modus operandi of the World Trade Organization --including decision-making procedures, negotiating modalities, and dispute settlement. Much has already been done to improve the internal and external transparency of World Trade Organization processes. Some proposals for structural reform ignore incentive constraints and the fact that the World Trade Organization is an incomplete contract that must be self-enforcing. Others -- such as calls for a"critical mass"approach to negotiations --can already be pursued (and have been). The agenda for international cooperation increasingly revolves around"behind-the-border"regulatory externalities that do not necessarily lend themselves to binding commitments in a trade agreement. This suggests a focus on strengthening notification/surveillance and developing more effective mechanisms for dialogue on regulatory policies that may create negative spillovers.

Suggested Citation

  • Hoekman, Bernard, 2011. "Proposals for WTO reform : a synthesis and assessment," Policy Research Working Paper Series 5525, The World Bank.
  • Handle: RePEc:wbk:wbrwps:5525
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    References listed on IDEAS

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    1. Hiau LooiKee & Alessandro Nicita & Marcelo Olarreaga, 2009. "Estimating Trade Restrictiveness Indices," Economic Journal, Royal Economic Society, vol. 119(534), pages 172-199, January.
    2. Nuno Limão & Kamal Saggi, 2018. "Tariff retaliation versus financial compensation in the enforcement of international trade agreements," World Scientific Book Chapters, in: Kamal Saggi (ed.), Economic Analysis of the Rules and Regulations of the World Trade Organization, chapter 13, pages 299-311, World Scientific Publishing Co. Pte. Ltd..
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    Cited by:

    1. Ellero, Jeremy & Lagadec, Gael, 2014. "Le Pacifique insulaire dans le cadre d'échange multilatéral : quel accord de libre-échange pour les territoires français du Pacifique ?," MPRA Paper 60043, University Library of Munich, Germany.
    2. Ellero, Jeremy & Lagadec, Gael, 2014. "Le Pacifique insulaire dans le cadre d'échange multilatéral : quel accord de libre-échange pour les territoires français du Pacifique ?," MPRA Paper 60016, University Library of Munich, Germany.
    3. Gregory Shaffer, 2015. "How the World Trade Organization shapes regulatory governance," Regulation & Governance, John Wiley & Sons, vol. 9(1), pages 1-15, March.
    4. Franco Bruni, 2011. "Europe and the World’s Economy Governance: The Monetary and Financial Perspective," Chapters, in: Carlo Secchi & Antonio Villafranca (ed.), Global Governance and the Role of the EU, chapter 1, Edward Elgar Publishing.

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    More about this item

    Keywords

    Economic Theory&Research; Trade Law; World Trade Organization; Trade and Services; Free Trade;
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