Competing liberalizations: tariffs and trade in the twenty-first century

Jean-Christophe Bureau, Houssein Guimbard and Sebastien Jean

Review of World Economics (Weltwirtschaftliches Archiv), 2019, vol. 155, issue 4, No 4, 707-753

Abstract: Abstract This paper proposes a unique overview of trade policies since 2001, based on detailed data on tariffs and trade covering 130 countries. It shows that regionalism has delivered limited liberalization, representing only a 0.3 percentage point (p.p.) cut in the worldwide average applied tariff between 2001 and 2013. WTO commitments (1.0 p.p. average cut) and unilateral liberalizations on a most-favored-nation basis (1.3 p.p.) mattered far more. The study also shows that GVC participation was a powerful motivation underlying tariff liberalizations, including those carried out at governments’ own initiative. The paper finally assess that recent trade policy changes more than halved the worldwide welfare gains expected from multilateral tariff-cutting. If all PTA negotiations were concluded, gains would fall to one-third of their 2001 level.

Keywords: Regional trade agreements; Unilateral liberalization; Doha development agenda; WTO; Global value chains (search for similar items in EconPapers)
JEL-codes: F10 F13 F14 (search for similar items in EconPapers)
Date: 2019
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Citations: View citations in EconPapers (10)

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DOI: 10.1007/s10290-019-00346-1

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