On the heterogeneous trade and welfare effects of GATT/WTO membership

Gabriel Felbermayr (), Mario Larch (), Erdal Yalcin and Yoto Yotov
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Gabriel Felbermayr: Vienna University of Economics and Business (WU)
Mario Larch: University of Bayreuth

Review of World Economics (Weltwirtschaftliches Archiv), 2024, vol. 160, issue 3, No 8, 983-1008

Abstract: Abstract We quantify the effects of GATT/WTO membership on trade and welfare. Using an extensive database covering manufacturing trade for 186 countries over the period 1980–2016, we find that the average partial equilibrium impact of GATT/WTO membership on trade among member countries is large, positive, and significant. We contribute to the literature by estimating country-specific estimates and find them to vary widely across the countries in our sample with poorer members benefitting more. Using these estimates, we simulate the general equilibrium effects of GATT/WTO on welfare, which are sizable and heterogeneous across members. We show that countries not experiencing positive trade effects from joining GATT/WTO can still gain in terms of welfare, due to lower import prices and higher export demand.

Keywords: GATT; WTO; Heterogeneous policy effects; Welfare (search for similar items in EconPapers)
JEL-codes: F1 F13 F14 (search for similar items in EconPapers)
Date: 2024
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Related works:
Working Paper: On the Heterogeneous Trade and Welfare Effects of GATT/WTO Membership (2022)
Working Paper: On the Heterogeneous Trade and Welfare Effects of GATT/WTO Membership (2020)
Working Paper: On the Heterogeneous Trade and Welfare Effects of GATT/WTO Membership (2020)
Working Paper: On the heterogeneous trade and welfare effects of GATT/WTO membership (2020)
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DOI: 10.1007/s10290-023-00520-6

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