The Unbalanced Uruguay Round Outcome : The New Areas in Future WTO Negotiations
The Uruguay Round involved a grand North-South bargain: The North reduced import barriers, particularly in textiles and agriculture. The South adopted new domestic regulations in such areas as services and intellectual property-changes that would l...
| Main Authors: | , |
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| Format: | Policy Research Working Paper |
| Language: | English en_US |
| Published: |
World Bank, Washington, DC
2014
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| Subjects: | |
| Online Access: | http://documents.worldbank.org/curated/en/2001/12/1660272/unbalanced-ururguay-round-outcome-new-areas-future-wto-negotiations http://hdl.handle.net/10986/19413 |
| Summary: | The Uruguay Round involved a grand
North-South bargain: The North reduced import barriers,
particularly in textiles and agriculture. The South adopted
new domestic regulations in such areas as services and
intellectual property-changes that would lead to increased
purchases from the North. In mercantilist economics, apples
for apples-imports for imports. In real economics, apples
for oranges. The authors argue that while the North's
reduction of import barriers benefits both the North and the
South, the new domestic regulations adopted by countries of
the South could prove costly to those countries. To begin
with, the regulations will be expensive to implement. And
while the cost side of their impact is secured by a legal
obligation (in the case of intellectual property rights, for
example, the cost is higher prices for patented goods), the
benefits side is not so secured. |
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