The Economics of the World Trading System

Kyle Bagwell (Stanford University), Robert W. Staiger (Stanford University)

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English

Massachusetts Inst of Tec
20 August 2004

Economics & Business; Trade agreements

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.

By: Kyle Bagwell (Stanford University), Robert W. Staiger (Stanford University)
Imprint: Massachusetts Inst of Tec
Country of Publication: United States
Edition: New edition
Dimensions: Height: 229mm, Width: 152mm, Spine: 11mm
Weight: 340g
ISBN: 9780262524346
ISBN 10: 0262524341
Pages: 242
Publication Date: 20 August 2004
Recommended Age: From 18 years
Audience: Professional and scholarly , Undergraduate
Format: Paperback
Publisher's Status: Active

Kyle Bagwell is Professor of Economics and Senior Fellow at the Stanford Institute for Economic Policy Research. He is also Research Associate at the National Bureau of Economic Research.

Reviews for The Economics of the World Trading System

An excellent book, providing precise formal analysis of nearly every question that has been asked concerning the origins, objectives, and implications of the GATT/WTO. It deserves to be widely read and to find a prominent place on graduate-course reading lists. - M. C. Kemp, Journal of Economics