The development of the modern global trading system has been extremely rapid – and not without controversy. The WTO (and its precursor, the GATT) have provided not only a set of multilateral rules and disciplines but also a forum for negotiation and a legal mechanism to settle trade-related...

F5

A new round of World Trade Organization negotiations on agriculture, services, and perhaps other issues is expected in late 1999. To what extent should those negotiations include"new trade agenda"items aimed at ensuring thatdomestic regulatory policies do not discriminate against foreign...

A new round of WTO negotiations on agriculture, services and perhaps some other issues is expected to be launched in late 1999. To what extent should those negotiations include so-called "new trade agenda" items aimed at ensuring that domestic regulatory policies do not discriminate against...

A multi-commodity model of world food markets is used to quantify the adverse impact of agricultural p olicies in Western Europe and East Asia on farmer welfare in Australa sia and North America. Net farm incomes for these traditional exporte rs would be one-third greater in the absence of...

The potential welfare gains from further liberalizing agricultural markets are shown in this paper to be huge, both absolutely and relative to gains from liberalizing textiles or other manufacturing, according to new simulation results of the Global Trade Analysis Project. The probability of the...

A multi-commodity model of world food markets is used to show the likely effects of a gradual lowering of tariffed agricultural protection rates by industrial countries during the 1990s. In addition to raising the mean and lowering the variance of international food prices, such reforms bestow...