Is the WTO Passé?

Kyle Bagwell, Chad Bown and Robert Staiger

Journal of Economic Literature, 2016, vol. 54, issue 4, 1125-1231

Abstract: 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? We survey a growing economics literature on international trade agreements and argue on this basis that the WTO is not passé. Rather, and subject to some caveats, our survey of research to date suggests that the WTO warrants strong support while a more cautious view of PTAs seems appropriate.

JEL-codes: F13 F14 K33 N70 (search for similar items in EconPapers)
Date: 2016
Note: DOI: 10.1257/jel.20151192
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Citations: View citations in EconPapers (17)

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Related works:
Working Paper: Is the WTO passé? (2015)
Working Paper: Is the WTO passe ? (2015)
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