Economics of the World Trade System: Contemporary World Academic Masterpieces · Economics Series

Author: (American) Coyle Berg
Publisher:
Publish Date: 2005-10-01
Features: The various rules of the General Agreement on Tariffs and Trade (GATT) successor—the World Trade Organization (WTO)—govern international trade. WTO sets behavioral guidelines for the international trade of goods and services, as well as intellectual property, provides a multilateral negotiation forum for addressing various international trade issues, and establishes a standardized mechanism for dispute resolution. It is the primary international institution that promotes free trade through rule-based bargaining processes. In this book, Coyle Berg and Robert W. Staiger conduct an economic analysis and explanation of the objectives and original intentions of GATT/WTO. They summarize their research work, discuss the main features of the GATT Agreement, and review the literature on trade agreements. Their focus on the externality of trade conditions is particularly unique and runs throughout the book. The themes of the book include the rationale of trade agreements, the origins and intentions of GATT and WTO, the principle of reciprocity, the principle of generalization, trade condition theory, compulsory implementation, preferential trade agreements, labor and environmental standards, competition policy, and agricultural export subsidies.