Understanding the GATT’s wins and the WTO’s woes

Richard Baldwin,

Date Published

Sat, 06/05/2010

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International trade

URL

http://www.cepr.org/pubs/PolicyInsights/PolicyInsight49.pdf
Tags
WTO, Doha Round, international trade

Information frictions and the law of one price: "When the states and the kingdom became united"

Claudia Steinwender 16 January 2014

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When it comes to global trade flows, the world is still far from flat. What kind of trade barriers explain the “missing trade” (Trefler 1995)? Economists have recognised that indirect barriers are more important than direct trade barriers (e.g. tariffs), but the precise nature of these barriers is still poorly understood (Anderson and van Wincoop 2004, Head and Mayer 2013). Recent research has emphasised information frictions as a potential explanation (Allen 2012).

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Topics:  International trade

Tags:  US, international trade, Hollister UK, information frictions

The dragon awakes: Is Chinese competition policy a cause for concern?

Mario Mariniello 09 November 2013

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Foreign businesses are increasingly realising that China has antitrust laws, and is not shy about using them. The Glencore/Xstrata merger in the spring was cleared only with conditions imposed by the Chinese Ministry of Commerce. In August, the Chinese National Development and Reform Commission imposed a record €82 million fine on milk powder producers for a price-fixing conspiracy. The Chinese authorities are also taking more decisions.

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Topics:  Competition policy

Tags:  China, international trade, protectionism, Competition policy, antitrust

Awakening the WTO

Hector R. Torres 21 September 2013

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Admitting that 'the present is just a snapshot in a journey' is disconcerting, so we feel better assuming that the current state of affairs will turn out to be permanent. Indulging in this mistake is common, and we also see it happening in multilateral institutions – particularly if they do not have a watchdog to keep them free from self-deception. The WTO does not have such a watchdog, and this may explain its resistance to acknowledging the obvious.

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Topics:  Institutions and economics International trade

Tags:  WTO, Doha Round, developing countries, international trade

Offshoring and its effects on innovation in emerging economies

Ursula Fritsch, Holger Görg 23 September 2013

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Most empirical studies of the impact of outsourcing on firms look at industrialised countries. However, outsourcing is also common in emerging economies, and firms in middle-income countries split up their production processes similarly to firms in developed countries (see figures in Miroudot et al. (2009) on trade in intermediates). Recent research analyses the benefits to firms from outsourcing, focusing mainly on productivity and innovation effects. The latter are particularly important, since innovation is a key determinant of productivity improvements and – ultimately – growth.

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Topics:  International trade Productivity and Innovation

Tags:  R&D, offshoring, innovation, international trade, emerging markets, outsourcing, technology transfer

Why does finance matter for trade? Evidence from new data

Marc Auboin, Martina Engemann 03 December 2012

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Academic interest in the role of trade finance has grown in the context of the financial crisis of 2008-09 and the subsequent economic downturn, just as policymakers’ interest was once caught by the Asian financial crisis (IMF 2003).

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Topics:  International trade

Tags:  trade, international trade, financial crisis, Trade finance, Great Recession, trade credit, trade insurance

Global trade in services: Fear, facts, and offshoring

J. Bradford Jensen 19 November 2012

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Should the US, or indeed the EU, Japan, Canada, or Australia, fear increased trade in services? As the ‘Really Good Friends of Services’ discussions gain momentum in Geneva, it seems an important time to ask1.

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Topics:  International trade

Tags:  global imbalances, WTO, international trade, protectionism

Coping with loss: The impact of natural disasters on developing countries' trade flows

Jorge Andrade da Silva, Lucian Cernat 09 February 2012

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The European Commission has recently published its Trade and Development Communication, which underlines trade as one of the key drivers to support development, stimulate growth, and lift people out of poverty. In addressing the issues, it also recognises the disruptive potential of natural disasters.1

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Topics:  Development Environment International trade

Tags:  developing countries, international trade, natural disasters

Import protection and the Great Recession

Chad P Bown 29 August 2011

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The global economic contraction of 2008-09 and the trade collapse stoked concern over a return to Great Depression-like economic conditions and autarkic government policies, including resort to new trade barriers (see Evenett 2011). Figure 1 illustrates this clear concern through the time-series pattern of Internet searches as reported by Google Trends – public interest in the “Great Depression” spiked in October 2008 shortly after the collapse of Lehman Brothers, and curiosity over “Protectionism” followed closely thereafter, peaking in February 2009.

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Topics:  Global crisis International trade

Tags:  international trade, protectionism, temporary trade barriers

The value-added content of trade

Robert Johnson, Guillermo Noguera 07 June 2011

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Trade in intermediate inputs accounts for roughly two-thirds of international trade. This input trade reflects the increasing fragmentation of production processes across borders.1 It also creates two distinct challenges for measuring international interdependence.

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Topics:  International trade

Tags:  international trade, value added

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