One of the goals of the multilateral trading system is to enhance the stability and predictability of the environment in which traders operate.Binding tariffs at the WTO reduces the scope for their discretionary use. But, countries have bound tariffs at ceiling levels often substantially above...

Although global value chains (GVCs) are often considered a defining feature of the current wave of globalisation, little is known about: i) what drives GVC participation; ii) what the benefits associated to growing participation are; or iii) how developing countries engage and benefit from GVCs....

Do WTO commitments reduce the risk of trade policy reversals? To address this question, we rely on the theoretical model of varying cooperative tariffs by Bagwell and Staiger (1990) to specify our empirical model for the probability of a tariff increase. We then study how WTO tariff commitments...

Do WTO commitments reduce the risk of trade policy reversals? To address this question, we rely on the theoretical model of varying cooperative tariffs by Bagwell and Staiger (1990) to specify our empirical model for the probability of a tariff increase. We then study how WTO tariff commitments...

The proposed Trans-Pacific Partnership (TPP) is a free trade agreement among 12 Pacific Rim countries whose joint gross domestic products (GDPs) account for 36 percent of world GDP and whose mutual trade accounts for approximately 24 percent of world trade. As for most proposed free trade...

This paper characterises the extent of GVC participation in selected countries of Latin America. It looks deeper into certain key trade policy-related aspects of Latin American trade integration with the potential to improve GVC participation. Latin America has a dense web of intra and...

This study takes stock of the institutional setting, operational modalities, strengths and weaknesses of various forms of mutual recognition when used in different sector and country contexts. It aims to build a greater understanding of the benefits and pitfalls of one of the 11 mechanisms of...

This paper provides an assessment of the potential economic impacts of the Vietnam-Korea free trade agreement on Vietnam, by using general equilibrium modeling. The results show that Vietnam-Korea FTA will increase aggregate welfare for both countries in the long run. The most important gains...

Regulatory cooperation to eliminate non-tariff barriers to trade (NTBs) resulting from differences in product standards and technical regulations has become a prominent issue in Preferential Trade Agreement (PTA) negotiations. This paper looks at the most important challenges and opportunities...

The political economy of international trade decision-making within the United States is complex and ever-changing. The debates over the merits of the Trans-Pacific Partnership (TPP), and the associated efforts of the Obama Administration to obtain Trade Promotion Authority (TPA), highlight...