The methodological problems associated with standard partial equilibrium models may impart a significant bias in their projections of the trade effects of tariff cuts. First, these models fail to account for the price-raising effects of nontariff barriers (NTBs) that shift the supply curve for...

This major Handbook offers a comprehensive analysis of the key issues surrounding the rapid expansion of Latin America's manufacturing sector. It systematically examines the most important factors influencing the comparative advantages and the globalization of manufacturing industries in the region.

MERCOSUR is one of the most important examples of renewed world-wide interest in regional trade agreements. It may be seen as a consolidation of unilateral reforms undertaken in conjunction with major macroeconomic adjustments. The paper reviews the objectives of MERCOSUR and assesses its...

In the last ten years, there has been a sea change in trade and related policies in emerging markets. This results from autonomous reforms undertaken in conjunction with macro-economic stabilization programmes. Many non-tariff measures have been eliminated and tariffs, now the principal trade...

Market access negotiations in merchandise trade at the multilateral level cover tariffs and non-tariff measures (NTMs). While tariffs have been substantially reduced in earlier rounds, they remain high in certain areas and further reductions involve a number of complex technical issues. Some...

The WTO has increased international disciplines on export policy, but there is still scope for the use of export subsidies and other measures to promote exports. Under macroeconomic and trade reforms of the last decade, many countries have reduced or eliminated import measures which operate as...

The EU model is being progressively transmitted to other economies through expansion of membership and various preferential agreements. Since EU trade polices have been criticised in a number of respects, this could be a matter of concern to the international community. However, in the case of...