Is the WTO Passe?

The WTO has delivered policy outcomes that are very different from those likely to emerge out of the recent wave of preferential trade agreements (PTAs). Should economists see this as an efficient institutional hand-off, where the WTO has carried t...

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Bibliographic Details
Main Authors:	Bagwell, Kyle, Bown, Chad P., Staiger, Robert W.
Format:	Working Paper
Language:	English en_US
Published:	World Bank, Washington, DC 2015
Subjects:	SETTLEMENT NEGOTIATIONS INDUSTRIALIZED COUNTRIES LIABILITY EXPORT MARKETS GLOBAL WELFARE PANEL REPORT FREE TRADE AGREEMENT WORLD TRADE ORGANIZATION INTERNATIONAL ECONOMIC LAW TRADE NEGOTIATIONS BILATERAL NEGOTIATIONS AD VALOREM REGIONAL TRADE AGREEMENTS FOREIGN INVESTORS DISPUTE SETTLEMENT TRADE RULES FOREIGN OWNERSHIP FOREIGN PRODUCERS IMPORTING COUNTRIES TRADE BARRIERS INTERNATIONAL TRADING SYSTEM COUNTERVAILING DUTIES INTERNATIONAL ORGANIZATIONS DOMESTIC INDUSTRIES DISPUTE SETTLEMENT PROCEDURES NATIONAL TREATMENT DOMESTIC MARKET AGREEMENT ON GOVERNMENT PROCUREMENT TRADE FLOWS TRADE AREAS INTELLECTUAL PROPERTY RIGHTS REGIONAL AGREEMENTS FREE TRADE AGREEMENTS TRIPS AGREEMENT TRADE NEGOTIATORS IMPORTED PRODUCTS HOME MARKET INTEGRATION AGREEMENTS PANEL REPORTS TRADE CONCESSIONS DISPUTE SETTLEMENT SYSTEM ANTI-DUMPING DUTIES TREATIES MARKET ACCESS EXTERNAL TRADE FREE TRADE INTERNATIONAL BANK EXPORT SUBSIDIES DISPUTE RESOLUTION BORDER MEASURES IMPORTED GOODS TRADE AGREEMENTS TRADE BARRIER PRODUCTION PROCESS EXPORTING COUNTRY FOREIGN MARKETS INTELLECTUAL PROPERTY TREATIES PUBLIC POLICY PREFERENTIAL TRADE AGREEMENTS DUMPING DUTIES TRADE BALANCE ENFORCEMENT MECHANISMS TRADE SYSTEM GLOBAL ECONOMY MULTILATERAL SYSTEM DISPUTE SETTLEMENT MECHANISMS TRADE RESTRICTIONS DOMESTIC SUBSIDIES REGIONAL TRADE CASE LAW CUSTOMS IMPORT POLICY INVESTMENT AGREEMENT CONTRACTING PARTIES IMPORT SUBSTITUTION INTERNATIONAL TRADE LAW IMPORT RESTRICTIONS AGREEMENT ON SUBSIDIES COUNTERVAILING MEASURES TRADE POLICY QUANTITATIVE RESTRICTIONS CUSTOMS VALUATION DEVELOPING COUNTRY EXPORTS EXPORT MARKET EXPORT SUBSIDY SIGNATORY COUNTRIES TRADE REMEDIES TRADE POLICIES AGREEMENT ON AGRICULTURE INTERNATIONAL TRANSFERS LEGAL ASPECTS INTERNATIONAL NEGOTIATIONS TRADE LAW ANTI-DUMPING AGREEMENT GENERAL AGREEMENT ON TRADE IN SERVICES AGREEMENT ON SAFEGUARDS CASE-BY-CASE BASIS INTERNATIONAL TRADE EXPORTING COUNTRIES INTERNATIONAL INVESTMENT COMPETITION POLICY REMEDIES FOREIGN COUNTRIES ENVIRONMENTAL STANDARDS EUROPEAN UNION FOREIGN INVESTMENT MULTILATERAL RULES SAFEGUARD MEASURES IMPORT COMPETITION PRODUCTION STANDARDS FREE TRADE AREAS MULTILATERAL LEVEL INTERNAL TRADE FOREIGN EXPORTERS MANAGED TRADE INTERNATIONAL AGREEMENTS TRADE LIBERALIZATION WORLD TRADING SYSTEM SOCIAL WELFARE PROTECTIVE MEASURES GLOBAL TRADING TRADE DIVERSION CROSS-BORDER OWNERSHIP SYSTEM OF PREFERENCES LABOR STANDARDS INTERNATIONAL RULES APPELLATE BODY REPORT IMPORTING COUNTRY REGIONAL INTEGRATION HUMAN RIGHTS AGRICULTURAL PRODUCTS EXPORT POLICY TRADE DUMPING DUTY DOMESTIC PRICES EXPORT PRICE TRADING SYSTEM MARKET SHARE LEGAL SYSTEM APPELLATE BODY DOMESTIC PRODUCTION CUSTOMS UNIONS ADMINISTRATIVE PROCEDURES PREFERENTIAL TRADE INTERNATIONAL AGREEMENT RETALIATION LEVELS ANTI-DUMPING DUTY TRADE SANCTIONS BOVINE MEAT IMPORT POLICIES DISPUTE SETTLEMENT BODY INTERNATIONAL LAW INTELLECTUAL PROPERTY POLICY RESEARCH FOREIGN COUNTRY RULES OF ORIGIN MATERIAL INJURY EXCHANGE RATE ACCORD MULTILATERAL TRADE AGREEMENTS AGREEMENT ON TRADE-RELATED ASPECTS TECHNICAL BARRIERS DISPUTE SETTLEMENT PANEL INTERNATIONAL MARKETS WORLD MARKET DOMESTIC INDUSTRY DISPUTE SETTLEMENT PROCESS AGRICULTURAL TRADE
Online Access:	http://documents.worldbank.org/curated/en/2015/06/24628212/wto-passe http://hdl.handle.net/10986/22177

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Summary:	The WTO has delivered policy outcomes that are very different from those likely to emerge out of the recent wave of preferential trade agreements (PTAs). Should economists see this as an efficient institutional hand-off, where the WTO has carried trade liberalization as far as it can manage, and is now passing the baton to PTAs to finish the job? This paper surveys a growing economics literature on international trade agreements and argues on this basis that the WTO is not passé. Rather, and subject to some caveats, this survey of research to date suggests that the WTO warrants strong support while a more cautious view of PTAs seems appropriate.

Is the WTO Passe?

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