One of the unforeseen consequences of the WTO agreements has been controversy over risk. This volume explores aspects of risk with special reference to the WTO, where national instruments to reduce risk may conflict with international trade rules. The book is divided into sections dealing with:...

This paper studies the implications of various contracting alternatives between exporting and importing firms on the value of production and international transactions. Since contracts are usually determined when exchange rate is uncertain, we show that under some conditions renegotiating these...