Phasing out distortionary government subsidies and barriers to international trade will yield extraordinarily high benefits relative to any adjustment costs, notwithstanding the considerable reforms that have already taken place over the past two decades. This paper surveys recent estimates,...

Phasing out distortionary government subsidies and barriers to international trade will yield extraordinarily high benefits relative to any adjustment costs, notwithstanding the considerable reforms that have already taken place over the past two decades. This paper surveys recent estimates,...

A common-agency lobbying model is developed to help understand why North America and the European Union have adopted such different policies towards genetically modified food. Our results show that when firms (in this case farmers) lobby policy makers to influence standards and consumers and...

The dispute resolution procedures of the World Trade Organization allow sanctions to be imposed when a country is unwilling to bring a WTO-inconsistent trade measure into conformity. Apart from the fact that the procedure for triggering the retaliation process has ambiguities that need to be...

This paper examines the strengthening forces behind the latest wave of globalization and draws out its consequences for the policy strategies of small open economies such as Singapore. The digital revolutionÂ’s contributions to globalization have been substantial, but so too have the policy...

The aim of this paper is to analyse the retail prices on wine in different countries. In general, country-specific price differences on identical wines are expected to reflect differences in taxes, import prices, transportation and other costs. Also the competitive conditions on the retail...

This paper offers a selective survey of the recent empirical literature on financial integration, the focus being on alternative definitions of financial integration and measurement issues and results. The literatures to be reviewed have been selected primarily because their analyses have...

This paper examines whether strategic trade behavior can explain the fact that the US, Japanese and European Patent Offices – the USPTO, the JPO and the EPO – often make different decisions about whether to grant (or reject) a given patent application. We analyse this issue by...

A successful agreement on agriculture is essential for an overall agreement under the WTOÂ’s Doha trade negotiations. Reaching agreement has been difficult, and as of August 2007, much still remains to be done if a successful agreement is to be reached. We consider three of the most...

This paper estimates the effects on production, trade and economic welfare of current trade policy regimes throughout the world on Uganda relative to other economies, as a benchmark against which to examine various multilateral and preferential trade policy scenarios that might emerge over the...