equilibrium effects of GATT/WTO membership on trade and welfare. Using an extensive database covering manufacturing trade for 186 … countries over the period 1980-2016, we find that the average impact of GATT/WTO membership on trade among member counties is … general equilibrium effects of GATT/WTO on welfare, which are sizable and heterogeneous across members, and relatively small …

indebted poor country, and the 2011 Tohoku earthquake in Japan, a large developed economy. We find that spillovers are …