Dealing constructively with subsidies in global commerce is central to G20 leaders’ goal of reforming and strengthening the multilateral trading system. The growing use of distortive subsidies alters trade and investment flows, detracts from the value of tariff bindings and other market access...

The apparent contradiction between trade liberalization and continuing high trade tax revenue raises the important question of how, precisely, the one affects the other. Although policymakers generally recognize the long-term benefits of trade liberalization, some have argued for at least a...

Central America has received growing attention as a region that is integrating successfully into the global economy. This paper examines—among other things—the macroeconomic and fiscal implications of the Free Trade Agreement with the United States (CAFTA-DR), noting that the agreement will...