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Examines the WTO rules governing industrial subsidies, as established by the SCM Agreement and interpreted by relevant case law.
Handbook of Commercial Policy explores three main topics that permeate the study of commercial policy. The first section presents a broad set of basic empirical facts regarding the pattern and evolution of commercial policy, with the second section investigating the crosscutting legal issues relating to the purpose and design of agreements. Final sections cover key issues of commercial policy in the modern global economy. Every chapter in the book provides coverage from the perspectives of multilateral, and where appropriate, preferential trade agreements. While most other volumes are policy-oriented, this comprehensive guide explores the ways that intellectual thinking and rigor organize research, further making frontier-level synthesis and current theoretical, and empirical, research accessible to all. Covers the research areas that are critical for understanding how the world of commercial policy has changed, especially over the last 20 years Presents the way in which research on the topic has evolved Scrutinizes the economic modeling of bargaining and legal issues Useful for examining the theory and empirics of commercial policy
A legal and normative analysis of WTO disciplines on industrial and agricultural subsidies and countervailing duties.
Deep trade agreements (DTAs) cover not just trade but additional policy areas, such as international flows of investment and labor and the protection of intellectual property rights and the environment. Their goal is integration beyond trade or deep integration. These agreements matter for economic development. Their rules influence how countries (and hence, the people and firms that live and operate within them) transact, invest, work, and ultimately, develop. Trade and investment regimes determine the extent of economic integration, competition rules affect economic efficiency, intellectual property rights matter for innovation, and environmental and labor rules contribute to environmental and social outcomes. This Handbook provides the tools and data needed to analyze these new dimensions of integration and to assess the content and consequences of DTAs. The Handbook and the accompanying database are the result of collaboration between experts in different policy areas from academia and other international organizations, including the International Trade Centre (ITC), Organisation for Economic Co-operation and Development (OECD), United Nations Conference on Trade and Development (UNCTAD), and World Trade Organization (WTO).
This comprehensive volume provides the first book-length account on the politics of fossil fuel subsidies. This title is also available as Open Access.
World trade is governed by the rules of the World Trade Organization (WTO), the successor to the General Agreement on Tariffs and Trade (GATT). The WTO sets rules of conduct for the international trade of goods and services and for intellectual property rights, provides a forum for multinational negotiations to resolve trade problems, and has a formal mechanism for dispute settlement. It is the primary institution working, through rule-based bargaining, at freeing trade. In this book, Kyle Bagwell and Robert Staiger provide an economic analysis and justification for the purpose and design of the GATT/WTO. They summarize their own research, discuss the major features of the GATT agreement, and survey the literature on trade agreements. Their focus on the terms-of-trade externality is particularly original and ties the book together. Topics include the theory of trade agreements, the origin and design of the GATT and the WTO, the principles of reciprocity, the most favored nation principle, terms-of-trade theory, enforcement, preferential trade agreements, labor and environmental standards, competition policy, and agricultural export subsidies.
The rules and regulations governing international trade have grown at an exponential rate in the years since the Uruguay Round agreements established the WTO in 1995. These agreements continue to act as the multilateral foundation of the body of law, which is being expanded by its own committees and in new arrangements. As the international trade law system grows, it comes under increasing scrutiny from scholars, government officials, and trade law practitioners, it raises questions about the overlap with other international legal, political, and economic regimes. This Handbook considers the system of international trade law and what it means for States, for economic systems, for other international regimes, for civil society, and for human welfare. The book opens by focusing on the regulation of international trade, considering the history, economics, and sources of international trade law, as well as the possibilities for the future. It considers the intersection of international trade law with States, the economic and institutional context of the world trading system, the framework of its substantive law, and the balance of trade objectives versus ethical responsibilities. The book concludes by offering analysis of new trade law developments in the agricultural, digital, and financial sectors, as well as outlining the settlement of trade law disputes both in the WTO and bilateral/regional trade agreements. The second edition broadens the scope of analysis beyond the WTO, analysing regional trade agreements and preferential trade arrangements, including the Trans-Pacific Partnership, and Canada-EU Trade Agreement. The new edition also considers developments within the WTO such as in the area of agricultural export subsidies, and the Trade Facilitation Agreement.
The severe global financial crisis of 2008 could not be overcome without government interventions through industrial policy. This timely book analyses industrial policy from the perspectives of trade law and economics under the WTO system. The author expertly examines both general tools of protecting and supporting domestic producers and specific topics like special economic zones, localization, greening measures and creative economy. In addition to legal texts and jurisprudence, this book extensively utilizes other WTO materials to show what is actually discussed in WTO meetings and forums on relevant issues. Where applicable, the author advances practical recommendations for 'right' or 'optimal' industrial policy in certain contexts based on trade rules, case law and some countries' real experiences. The author concludes this work with some thoughts on concrete actions to be taken at the WTO and national levels and in academic circles in order to better tackle industrial policy issues.
Globally, greater integration in international trade and global value chains (GVCs) has been linked to increased GDP per capita and productivity. Latin American and Caribbean (LAC) countries have displayed limited trade openness and weak integration into GVCs. Their trade is roughly one-third of GDP on average, compared with one-half in countries in Europe and Central Asia, as well as East Asia and the Pacific—and that share has not grown since 2000. Although the gaps between potential and actual GVC integration are the result of economic fundamentals—such as geography, market size, institutions, and factor endowments—policy choices matter as well. The region has untapped potential in trade and GVCs to grow in the wake of COVID-19 (coronavirus). Deep trade agreements are reciprocal agreements between countries that seek integration of goods, services, and factors’ markets, or deep integration. Drawing on new data and evidence, Deep Trade Agreements: Anchoring Global Value Chains in Latin America and the Caribbean shows that these agreements can drive policy reforms that can help the region overcome some of its disadvantageous fundamentals. Four areas of deep integration—trade facilitation, regulatory cooperation, services, and state support—are priorities to improve the participation of countries in the region in GVC: 1. Facilitating trade can reduce border delays and ease the challenges caused by the remoteness of some countries. 2. Improving regulatory cooperation can help create larger regional markets by reducing the costs of nontariff measures. 3. Opening the service economy can compensate for factor endowment scarcity and facilitate access to skills and technology. 4. Fostering competition and regulating state support and state-owned enterprises can improve the quality of economic institutions. These areas are increasingly important as global trade tensions persist and economies recover from the COVID-19 pandemic. In these times of uncertainty and upheaval, the policy commitments in deep trade agreements can create a more stable institutional environment to promote the ability of countries to participate in GVCs and to reap the benefits of integration. This work is a product of the regional studies program sponsored by the Latin America and the Caribbean Chief Economist’s Office.