Emphasizing the importance of evaluating the Uruguay Round in the context of a changing world economy, the authors base their projections on a model that incorporates certain economic shifts: 1) that the center of economic gravity will shift toward the South and toward Asia (a shift that is...

Market growth and structural changes will affect the results of quantitative analyses of the Uruguay Round. Rapid economic growth in Asia and relatively deeper cuts in protection in that region, result in larger proportionate welfare gains in the year 2005 than in the year 1992. We also find...