a column by Mario Larch, José-Antonio Monteiro, Roberta Piermartini and Yoto Yotov for VOX: CEPR’s Policy Portal
Though economic theory clearly makes the case for WTO trade rules, the empirical evidence of their effect is mixed.
This column argues that previous studies may have underestimated the positive role of GATT/WTO membership by not taking into account the non-discriminatory nature of their agreements. Besides market access, the agreements provide greater transparency and predictability that benefit WTO members and non-members alike.
Taking these effects into account suggests that, on average, GATT/WTO membership has increased trade between Members by 171% and trade between member and non-member countries by about 88%.
Continue reading for a clear exposition of how the WTO works
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment