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Is the WTO passe ?

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  • Bagwell,Kyle
  • Bown,Chad P.
  • Staiger,Robert W.
  • Bagwell,Kyle
  • Bown,Chad P.
  • Staiger,Robert W.

Abstract

The WTO has delivered policy outcomes that are very different from those likely to emerge out of the recent wave of preferential trade agreements (PTAs). Should economists see this as an efficient institutional hand-off, where the WTO has carried trade liberalization as far as it can manage, and is now passing the baton to PTAs to finish the job? This paper surveys a growing economics literature on international trade agreements and argues on this basis that the WTO is not passé. Rather, and subject to some caveats, this survey of research to date suggests that the WTO warrants strong support while a more cautious view of PTAs seems appropriate.

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  • Bagwell,Kyle & Bown,Chad P. & Staiger,Robert W. & Bagwell,Kyle & Bown,Chad P. & Staiger,Robert W., 2015. "Is the WTO passe ?," Policy Research Working Paper Series 7304, The World Bank.
    • Handle: RePEc:wbk:wbrwps:7304
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    2. Oliver Krebs & Michael Pflüger, 2018. "How deep is your love? A quantitative spatial analysis of the transatlantic trade partnership," Review of International Economics, Wiley Blackwell, vol. 26(1), pages 171-222, February.
    3. Cornelius Hirsch & Harald Oberhofer, 2017. "Bilateral Trade Agreements and Trade Distortions in Agricultural Markets?," WIFO Working Papers 531, WIFO.
    4. Emanuel Ornelas, 2016. "Special and Differential Treatment for Developing Countries," CESifo Working Paper Series 5823, CESifo.
    5. Nocco, Antonella & Ottaviano, Gianmarco I.P. & Salto, Matteo, 2019. "Geography, competition, and optimal multilateral trade policy," Journal of International Economics, Elsevier, vol. 120(C), pages 145-161.
    6. Cole, Matthew T. & Lake, James & Zissimos, Ben, 2021. "Contesting an international trade agreement," Journal of International Economics, Elsevier, vol. 128(C).
    7. Ederington,Josh & Ruta,Michele, 2016. "Non-tariff measures and the world trading system," Policy Research Working Paper Series 7661, The World Bank.
    8. Martin Braml & Gabriel Felbermayr & Wolfgang Weiß & Fritz Breuss & Christoph Scherrer & Christoph Herrmann & Caroline Glöckle & Benjamin Jung & Tim Krieger & Laura Renner & Bernd Lange, 2018. "Handelskrieg und seine Folgen: Ist die WTO am Ende?," ifo Schnelldienst, ifo Institute - Leibniz Institute for Economic Research at the University of Munich, vol. 71(11), pages 03-29, June.
    9. José R. Sánchez-Fung, 2016. "Reviewing Trade Policy in China During the Transition to Balanced Economic Growth," The World Economy, Wiley Blackwell, vol. 39(12), pages 1934-1946, December.
    10. Sheldon, Ian M. & Chow, Daniel C.K. & McGuire, William, 2017. "Trade Liberalization and Institutional Constraints on Moves to Protectionism: Multilateralism vs. Regionalism," 2018 Allied Social Sciences Association (ASSA) Annual Meeting, January 5-7, 2018, Philadelphia, Pennsylvania 266305, Agricultural and Applied Economics Association.
    11. Cole, Matthew T. & Davies, Ronald B. & Kaplan, Todd, 2017. "Protection in government procurement auctions," Journal of International Economics, Elsevier, vol. 106(C), pages 134-142.
    12. Peter A.G. van Bergeijk, 2019. "Deglobalization 2.0," Books, Edward Elgar Publishing, number 18560.
    13. repec:wsr:wpaper:y:2017:i:176 is not listed on IDEAS
    14. Chad P. Bown, 2017. "Mega-Regional Trade Agreements and the Future of the WTO," Global Policy, London School of Economics and Political Science, vol. 8(1), pages 107-112, February.

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    More about this item

    Keywords

    International Trade and Trade Rules; Settlement of Investment Disputes; Trade Policy; Rules of Origin; Trade and Multilateral Issues; Competitiveness and Competition Policy; Competition Policy;
    All these keywords.

    JEL classification:

    • F13 - International Economics - - Trade - - - Trade Policy; International Trade Organizations
    • F14 - International Economics - - Trade - - - Empirical Studies of Trade
    • K33 - Law and Economics - - Other Substantive Areas of Law - - - International Law
    • N70 - Economic History - - Economic History: Transport, International and Domestic Trade, Energy, and Other Services - - - General, International, or Comparative

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