Preface -- Raymond Vernon / Roger B. Porter -- PART ONE, Introduction and Overview. 1. Efficiency, equity, and legitimacy : the global trading system in the twenty-first century / Roger B. Porter -- 2. Dark clouds over Geneva? : the troubled prospects of the multilateral trading system / Pierre...

Small and poor countries pose a challenge for the World Trade Organization (WTO). These countries have acquired a significant say in WTO decision-making. However, they have limited ability to engage in the reciprocity game that is at the heart of the WTO, and have limited interests in the...

Contrary to the recent literature that concludes that the GATT/WTO has been completely ineffective in promoting world trade, this paper furnishes robust evidence that the institution has had a powerful and positive impact on trade. The impact has, however, been uneven. GATT/WTO membership for...