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We provide a simple but novel model of trade agreements that highlights the role of transaction costs, renegotiation and dispute settlement. The model allows us to characterize the appropriate remedy for breach and whether the agreement should be structured as a system of "property rights" or...
Persistent link: https://www.econbiz.de/10013155118
International investment agreements employ dispute settlement procedures that differ markedly from their counterparts in trade agreements along three key dimensions: standing (i.e., the right to file grievances), the nature of the remedy, and the remedial period. In the state-to-state dispute...
Persistent link: https://www.econbiz.de/10013323625
The majority of the world's countries have antidumping (AD) statutes in place, hundreds of AD actions occur annually … its successor, the World Trade Organization. AD's unique characteristics along with its high incidence of use make it a …
Persistent link: https://www.econbiz.de/10013015097
Over the WTO years, the frequency of disputes and court rulings has trended downwards. Such trends are sometimes … offer evidence that the predictions of our model are consistent with WTO trade dispute data, and we take a first step …
Persistent link: https://www.econbiz.de/10012948085
The WTO has delivered policy outcomes that are very different from those likely to emerge out of the recent wave of … preferential trade agreements (PTAs). Should economists see this as an efficient institutional hand-off, where the WTO has carried … economics literature on international trade agreements and argue on this basis that the WTO is not passé. Rather, and subject to …
Persistent link: https://www.econbiz.de/10013020207
. But in reality, most WTO disputes involve disagreements of interpretation concerning the agreement, or instances where the … agreement is simply silent. And some have suggested that the WTO's Dispute Settlement Body (DSB) might serve a useful purpose by …
Persistent link: https://www.econbiz.de/10012771708
This paper reviews the history of bilateral trade negotiations between Taiwan and the U.S. The question posed at the outset is: does bilateralism enhance or jeopardize multilateralism? The U.S.-Taiwan experience seems to suggest a grossly negative answer. Bilateral negotiations for market...
Persistent link: https://www.econbiz.de/10013218908
We describe recent work on the theory of trade agreements that speaks to the purpose and design of GATT. Our discussion proceeds in three steps. First, we examine the purpose of a trade agreement. In both the traditional economic and the political-economy approaches to the study of trade...
Persistent link: https://www.econbiz.de/10013227740
This paper discusses the likely evolution of the trade and environment issue in the World Trade Organization after the … upcoming ministerial meeting in Singapore this December. It makes a number of points. Progress within the GATT/WTO on this … paper also argues that despite (and beyond) Singapore, one has to go further than the GATT/WTO to see the potential …
Persistent link: https://www.econbiz.de/10013234937
This paper assesses the impacts of the WTO Government Procurement Agreement (GPA) on trade in both goods and services …
Persistent link: https://www.econbiz.de/10013120994