Some recent empirical studies examine the impact of the GATT/WTO on trade. This paper investigates the sample selection bias and the gravity model specification issues in the literature. First, the GATT/WTO not only makes existing trading partners trade more at the intensive margin, but also...

Several interesting developments indicate that world attention is increasingly focusing on a "novel" category of trade barriers: non-tariff and non-border barriers. Following the Uruguay Round (the eighth round of negotiations under the General Agreement on Tariffs and Trade, "GATT"), scholars...

The post-World War II world trading system is now more than fifty years old, and not surprisingly, it has evolved through a number of different stages of development and survived a series of perils. Recently, however, the perils seem even greater than before. The failure of the Seattle...

This paper argues that any discussion of the operationalization of Gross National Happiness (GNH) in Bhutan within an immediate or intermediate time-frame must account for the fact that operationalization implies the adoption of long-range policy objectives and immediate or intermediate policy...

The theoretical debate over whether countries can and should set tariffs in response to the foreign export elasticities they face goes back to Edgeworth (1894). Despite the centrality of the optimal tariff argument in trade policy, there exists no evidence about whether countries actually...

Angesichts der Bedeutung ausländischer Direktinvestitionen in den globalen Wirtschaftsbeziehungen ist ein multilaterales Investitionsabkommen (MAI) zwingend notwendig. Dieses sollte die Liberalisierung der Etablierung und des operativen Geschäfts ausländischer Investoren induzieren wie auch...

Im ausgehenden 20. Jahrhundert nimmt das Ph?nomen der "Globalisierung" einengravierenden Stellenwert im internationalen Wirtschaftsgeschehen und in derinternationalen Politikdiskussion ein. Das fortschreitende Zusammenwachsen derVolkswirtschaften macht es immer schwieriger, die einzelnen Akteure...

A simple but new theoretical approach is used to analyse ex-ante the impact of tariff reduction. Thismethodology is based on the assumption of a constant price relation between each direct substitutableproduct. No elasticities are needed, but accurate import and domestic prices of the most...

Several Caribbean sugar producing countries are actively looking for viable alternatives to recover some of the expected lost revenues due to the WTO (World Trade Organization) ruling that sugar subsidies in the European Union (EU) are illegal. One alternative worth considering is exporting...

Anger and optimism are coexisting themes related to the growing liberalization of international trade and the resultant transforming forces of globalization. While international trade and globalization offer the world community many benefits, there also appear to be negative consequences,...