Despite the important roel played by GATT in the world economy, economist have nto developed a unified theoretical framework that interprets and evaluates the principles that form the foundation of GATT. Our purpose here is to propose such a framework. Working within a general equilibrium trade...

The U.S. steel industry has long held that foreign subsidization and excess capacity has led to its long-run demise, yet no one has formally examined this hypothesis. In this paper, we incorporate foreign subsidization considerations into a model based on Staiger and Wolak's (1992)...

The outcome of trade policies to increase access for foreign firms to the home country's market is shown to be sensitive to the implementation procedure used. The importance of the timing of moves between government and firms is highlighted by focusing on taxes and subsidies to implement minimum...

There exists near-consensus among professional economists on the desirability of achieving macroeconomic stabilization prior to the removal of microeconomic distortions. Yet this advice was completely disregarded in some of the most important cases of reform during the last decade--Bolivia and...

The results presented indicate that a free trade area would reinforce the linkages between Ethiopia and European countries, including traditional partners such as Italy, with implications for the regional integration arrangements that Ethiopia is currently involved in. There will be significant...

ABSTRACT On 1 January 1995, the Understanding on Rules and Procedures Governing the Settlement of Disputes (Dispute Settlement Understanding; DSU) entered into force. Since 1998, negotiations to review and reform the DSU have taken place (DSU review), however without yielding any result so far....

The drop in the share of interprovincial exports in GDP can be fully explained by several factors: the reductions in Canadian tariffs that have opened up the domestic market to foreign competition; the slower growth of that market compared with the U.S.; and relatively low increases in the...

Since the 1987 Single European Act, the European Union has deepened its integration process. In the case of the determination of the common external tariff, deeper integration implies that the tariff reflected union-wide preferences. If integration is still shallow, though, the observed tariff...

The small and medium industries played a key role in providing employment opportunities, in addition to its significant share in total value added and they provide goods and services at affordable prices for a substantial segment of the low-income, which is seen as a useful tool to guide the...

In 2005, following the phase-out of the Agreement on Textile and Clothing, the EU and the US have implemented new restrictions on textile and clothing imports from China. Available data suggests that the shortfall thus imposed on China, in terms of textile exports to the EU and to the US, is...