It is necessary for multilateral trade negotiations to include exceptions to accommodate politically sensitive sectors. However, given the highly concentrated distribution of agricultural protection, too many exceptions put at risk the objectives of World Trade Organization. This paper assesses...

The formula approach used in many trade negotiations involves large formula cuts in high tariffs, with flexibilities that allow smaller cuts for selected products. Difficulties in evaluating the effects of these exceptions can create major problems. We use a politicaleconomy welfare function and...

In spite of widespread tariff reductions, intra-African borders remain thick. Regional trade is inhibited by inadequate transportation infrastructure, but also by various government-imposed measures. This paper combines price data from the World Bank’s International Comparison Project (ICP)...

This paper analyzes food price stabilization policies in a small, open, developing country. Without public intervention, price dynamics are driven by domestic productive shocks and international prices. Trade and/or storage policies are optimally designed to increase welfare, in a context where...