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A World Trading System for the Twenty-First Century

Robert W. Staiger

Author : Robert W. Staiger
Publisher : MIT Press
Page : 353 pages
File Size : 40,7 Mb
Release : 2022-12-20
Category : Business & Economics
ISBN : 9780262371308

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A World Trading System for the Twenty-First Century by Robert W. Staiger Pdf

When designing a world trading system for the twenty-first century, “Keep calm and carry on” beats “Move fast and break things.” Global trade is in trouble. Climate change, digital trade, offshoring, the rise of emerging markets led by China: Can the World Trade Organization (WTO), built for trade in the twentieth century, meet the challenges of the twenty-first? The answer is yes, Robert Staiger tells us, arguing that adapting the WTO to the changed economic environment would serve the world better than a radical reset. Governed by the WTO, on the principles of the General Agreement on Tariffs and Trade (GATT), global trade rules traditionally focus on “shallow integration”—with an emphasis on reducing tariffs and trade impediments at the border—rather than “deep integration,” or direct negotiations over behind-the-border measures. Staiger charts the economic environment that gave rise to the former approach, explains when and why it worked, and surveys the changing landscape for global trade. In his analysis, the terms-of-trade theory of trade agreements provides a compelling framework for understanding the success of GATT in the twentieth century. And according to this understanding, Staiger concludes, the logic of GATT's design transcends many, if not all, of the current challenges faced by the WTO. With its penetrating view of the evolving global economic environment, A World Trading System for the Twenty-First Century shows us a global trading system in need of reform, and Staiger makes a persuasive case for using the architecture of the GATT/WTO as a basis for that reform.

Trade in the 21st Century

Bernard M. Hoekman,Ernesto Zedillo

Author : Bernard M. Hoekman,Ernesto Zedillo
Publisher : Brookings Institution Press
Page : 309 pages
File Size : 44,9 Mb
Release : 2021-01-19
Category : Business & Economics
ISBN : 9780815729051

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Trade in the 21st Century by Bernard M. Hoekman,Ernesto Zedillo Pdf

Despite troubled trade negotiations, global trade—and trade policy—will thrive in the twenty-first century, but with a bow to the past. Is the multilateral trading order of the twentieth century a historical artifact? Was the creation of the World Trade Organization in 1995 the high point of multilateral cooperation on trade? This new volume, edited by Bernard M. Hoekman and Ernesto Zedillo, assesses the relevance of the WTO in the context of the rise of China and the United States' turn toward unilateral protectionism. The contributors adopt a historical perspective to discuss changes in global trade policy trends, adducing lessons from the past to help understand current trade tensions. Topics include responses to U.S. protectionism under the Trump administration, the policy dimensions of trade in services and the rise of the digital economy, how to strengthen the WTO to better negotiate new rules of the game and adjudicate disputes, managing China's integration into the global trade system, and the implications of global value chains for economic development policies. By reflecting on past episodes of protectionism and how they were resolved, Trade in the 21st Century provides both context and guidance on how trade challenges can be addressed in the coming decades.

The Economics of the World Trading System

Kyle Bagwell,Robert W. Staiger

Author : Kyle Bagwell,Robert W. Staiger
Publisher : MIT Press
Page : 244 pages
File Size : 42,8 Mb
Release : 2004-08-20
Category : Business & Economics
ISBN : 0262524341

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The Economics of the World Trading System by Kyle Bagwell,Robert W. Staiger Pdf

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.

Trade Multilateralism in the Twenty-First Century

Alexei Kireyev,Chiedu Osakwe

Author : Alexei Kireyev,Chiedu Osakwe
Publisher : Cambridge University Press
Page : 457 pages
File Size : 42,6 Mb
Release : 2017-12-14
Category : Business & Economics
ISBN : 9781108421287

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Trade Multilateralism in the Twenty-First Century by Alexei Kireyev,Chiedu Osakwe Pdf

The book explores the impact of recent WTO accession experiences on the development of the multilateral trading system.

A World Trade Organization for the 21st Century

Richard Baldwin,Masahiro Kawai,Ganeshan Wignaraja

Author : Richard Baldwin,Masahiro Kawai,Ganeshan Wignaraja
Publisher : Edward Elgar Publishing
Page : 456 pages
File Size : 41,7 Mb
Release : 2014-11-28
Category : Asia
ISBN : 9781783479283

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A World Trade Organization for the 21st Century by Richard Baldwin,Masahiro Kawai,Ganeshan Wignaraja Pdf

ø Policy makers will benefit from the expert knowledge and policy lessons presented in this book, and development economists and researchers will profit from its critical examination of the world trading system. Undergraduate and postgraduate studen

The World Trading System

John Howard Jackson

Author : John Howard Jackson
Publisher : MIT Press
Page : 464 pages
File Size : 54,9 Mb
Release : 1997
Category : Business & Economics
ISBN : 0262600277

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The World Trading System by John Howard Jackson Pdf

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.

Emerging Powers and the World Trading System

Gregory Shaffer

Author : Gregory Shaffer
Publisher : Cambridge University Press
Page : 345 pages
File Size : 42,9 Mb
Release : 2021-07-22
Category : Business & Economics
ISBN : 9781108495196

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Emerging Powers and the World Trading System by Gregory Shaffer Pdf

This book explains the rise of China, India, and Brazil in the international trading system, and the implications for trade law.

Efficiency, Equity, and Legitimacy

Roger B. Porter,Pierre Sauve,Arvind Subramanian

Author : Roger B. Porter,Pierre Sauve,Arvind Subramanian
Publisher : Rowman & Littlefield
Page : 470 pages
File Size : 47,6 Mb
Release : 2004-06-23
Category : Business & Economics
ISBN : 0815798253

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Efficiency, Equity, and Legitimacy by Roger B. Porter,Pierre Sauve,Arvind Subramanian Pdf

A Brookings Institution Press and the Center for Business and Government at Harvard University publication The multilateral trading system stands at a crossroads. Despite its widely acknowledged contribution to global prosperity over the past half century, the movement toward further liberalization has increasingly been challenged. These essays by leading scholars and trade officials honor Raymond Vernon, one of the architects of the international economic institutions established following the Second World War. The book examines several key issues at the heart of the debate over the multilateral trading system. What are the global efficiency gains from further liberalization? How can efficiency gains be maximized while respecting legitimate claims to sovereignty? Is the trading system affording an equitable distribution of benefits between countries and among various groups within societies? Does civil society have a role in the trading system? What role should the World Trade Organization and its dispute settlement procedures play in resolving disputes and enhancing legitimacy?

The Craft of Economics

Edward E. Leamer

Author : Edward E. Leamer
Publisher : MIT Press
Page : 207 pages
File Size : 44,5 Mb
Release : 2012-01-06
Category : Business & Economics
ISBN : 9780262300834

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The Craft of Economics by Edward E. Leamer Pdf

A review of the Heckscher–Ohlin framework prompts a noted economist to consider the methodology of economics. In this spirited and provocative book, Edward Leamer turns an examination of the Heckscher–Ohlin framework for global competition into an opportunity to consider the craft of economics: what economists do, what they should do, and what they shouldn't do. Claiming “a lifetime relationship with Heckscher–Ohlin,” Leamer argues that Bertil Ohlin's original idea offered something useful though vague and not necessarily valid; the economists who later translated his ideas into mathematical theorems offered something precise and valid but not necessarily useful. He argues further that the best economists keep formal and informal thinking in balance. An Ohlinesque mostly prose style can let in faulty thinking and fuzzy communication; a mostly math style allows misplaced emphasis and opaque communication. Leamer writes that today's model- and math-driven economics needs more prose and less math. Leamer shows that the Heckscher–Ohlin framework is still useful, and that there is still much work to be done with it. But he issues a caveat about economists: “What we do is not science, it's fiction and journalism.” Economic theory, he writes, is fiction (stories, loosely connected to the facts); data analysis is journalism (facts, loosely connected to the stories). Rather than titling the two sections of his book Theory and Evidence, he calls them Economic Fiction and Econometric Journalism, explaining, “If you find that startling, that's good. I am trying to keep you awake.”

Redesigning the World Trade Organization for the Twenty-first Century

Debra P. Steger

Author : Debra P. Steger
Publisher : Wilfrid Laurier Univ. Press
Page : 498 pages
File Size : 44,9 Mb
Release : 2009-12-15
Category : Political Science
ISBN : 1554581745

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Redesigning the World Trade Organization for the Twenty-first Century by Debra P. Steger Pdf

Two high-level commissions—the Sutherland report in 2004, and the Warwick Commission report in 2007—addressed the future of the World Trade Organization and made proposals for incremental reform. This book goes further; it explains why institutional reform of the WTO is needed at this critical juncture in world history and provides innovative, practical proposals for modernizing the WTO to enable it to respond to the challenges of the twenty-first century. Contributors focus on five critical areas: transparency, decision- and rule-making procedures, internal management structures, participation by non-governmental organizations and civil society, and relationships with regional trade agreements. Co-published with the International Development Research Centre and the Centre for International Governance Innovation

Macroeconomics in Times of Liquidity Crises

Guillermo A. Calvo

Author : Guillermo A. Calvo
Publisher : MIT Press
Page : 265 pages
File Size : 45,9 Mb
Release : 2016-11-04
Category : Business & Economics
ISBN : 9780262035415

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Macroeconomics in Times of Liquidity Crises by Guillermo A. Calvo Pdf

An examination of Liquidity Crunch in triggering and characterizing financial crises. Since the subprime mortgage crisis that began in 2007, advanced economies have felt a nagging sense of insecurity. In parallel, the profession has witnessed phenomena that are alien to mainstream macroeconomic models. Financial crises are systemic, occurring simultaneously in different economies. In this book, Guillermo Calvo focuses on liquidity factors as a commonality in financial crises. Specifically, he examines the role of “liquidity crunch” in triggering crises. He also identifies a fundamental (but overlooked) idea in Keynes's General Theory, termed by Calvo the price theory of money, to rationalize the resiliency of the U.S. dollar when other dollar-backed assets suffered a devastating liquidity crunch. Calvo shows that a sharp focus on liquidity reveals some characteristics of liquid assets that are easy to miss otherwise. He argues for liquidity's centrality, presenting what he calls the Liquidity Approach. He shows that simple extensions of standard monetary models help rationalize the implications of the liquidity crunch, and then examines slightly more technical models that highlight liquidity issues. He explores the empirical effects of liquidity crunch by studying systemic sudden stops (of capital inflows), presuming that they are triggered by liquidity crunch-type phenomena.

Handbook of Commercial Policy

Anonim

Author : Anonim
Publisher : Elsevier
Page : 598 pages
File Size : 40,9 Mb
Release : 2016-11-02
Category : Business & Economics
ISBN : 9780444639264

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Handbook of Commercial Policy by Anonim Pdf

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

Seapower

Geoffrey Till

Author : Geoffrey Till
Publisher : Routledge
Page : 622 pages
File Size : 54,7 Mb
Release : 2018-06-19
Category : History
ISBN : 9781317219279

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Seapower by Geoffrey Till Pdf

This is the fourth, revised and updated, edition of Geoffrey Till's Seapower: A Guide for the Twenty-first Century. The rise of the Chinese and other Asian navies, worsening quarrels over maritime jurisdiction and the United States’ maritime pivot towards the Asia-Pacific region reminds us that the sea has always been central to human development as a source of resources, and as a means of transportation, information-exchange and strategic dominion. It has provided the basis for mankind's prosperity and security, and this is even more true in the early twenty-first century, with the emergence of an increasingly globalised world trading system. Navies have always provided a way of policing, and sometimes exploiting, the system. In contemporary conditions, navies, and other forms of maritime power, are having to adapt, in order to exert the maximum power ashore in the company of others and to expand the range of their interests, activities and responsibilities. While these new tasks are developing fast, traditional ones still predominate. Deterrence remains the first duty of today’s navies, backed up by the need to ‘fight and win’ if necessary. How navies and their states balance these two imperatives will tell us a great deal about our future in this increasingly maritime century. This book investigates the consequences of all this for the developing nature, composition and functions of all the world's significant navies, and provides a guide for anyone interested in the changing and crucial role of seapower in the twenty-first century. Seapower is essential reading for all students of naval power, maritime security and naval history, and highly recommended for students of strategic studies, international security and international relations.

Redesigning the World Trade Organization for the Twenty-first Century

Debra P. Steger

Author : Debra P. Steger
Publisher : Wilfrid Laurier Univ. Press
Page : 498 pages
File Size : 40,9 Mb
Release : 2010-05-06
Category : Political Science
ISBN : 9781554587957

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Redesigning the World Trade Organization for the Twenty-first Century by Debra P. Steger Pdf

Two high-level commissions—the Sutherland report in 2004, and the Warwick Commission report in 2007—addressed the future of the World Trade Organization and made proposals for incremental reform. This book goes further; it explains why institutional reform of the WTO is needed at this critical juncture in world history and provides innovative, practical proposals for modernizing the WTO to enable it to respond to the challenges of the twenty-first century. Contributors focus on five critical areas: transparency, decision- and rule-making procedures, internal management structures, participation by non-governmental organizations and civil society, and relationships with regional trade agreements. Co-published with the International Development Research Centre and the Centre for International Governance Innovation