We consider the purpose and design of the World Trade Organization (WTO) and its predecessor, GATT. We review recent developments in the relevant theoretical and empirical literature. And we describe the GATT/WTO architecture and briefly trace its historical antecedents. We suggest that the...

Existing theories of trade agreements suggest that GATT/WTO efforts to reign in export subsidies represent an inefficient victory for exporting governments that comes at the expense of importing governments.Building from the Cournot delocation model first introduced by Venables (1985), we...

When tourism's impressive potential for poverty alleviation is considered, the lack of attention is even more striking. Reasons for the apparent neglect are complex, and include a lack of awareness of tourism as an export sector, the fragmented nature of the industry and low political influence,...

This paper argues that different types of trade liberalization { multilateral versus regional { may lead to different R&D and productivity levels of firms. Trade agreements between countries are modelled with a network: nodes represent countries and a link between the nodes indicates the...

We examine how theoretical and quantitative economic analysis has and can be used in this stage of the DSU process. First, we identify, characterize, and categorize the major classes of disputes e.g., those affecting import protection versus export promotion and use the Bagwell and Staiger...

The Harmonized System is normally amended by the World Customs Organization every four to six years. These amendments pose considerable challenges for the WTO and its Members. On the one hand, Members need to periodically update their historical schedules of concessions into the latest...

Far less attention is given to the even more rapid proliferation of bilateral investment treaties (BITs) and their overlap with obligations assumed by WTO Members under the General Agreement on Trade in Services (GATS). About 60 per cent of world foreign investment stocks are in services and,...

Realistic estimates of mode 4 trade are virtually non-existent. Based on the GATS legal definition, the paper introduces the statistical conceptualization of mode 4. While showing that balance of payments labour related flows indicators, such as worker's remittances and compensation of...

We find robust evidence of a positive and significant relationship between the volumes of traffic and the degree of liberalization of the aviation market. An increase in the degree of liberalization from the 25th percentile to the 75th percentile increases traffic volumes between countries...

Economic theory has made considerable progress in explaining why sovereign countries cooperate in trade. Central to most theories of trade cooperation are issues of self-enforcement: The threat of reprisal by an aggrieved party maintains the initial balance of concessions and prevents...