LEGISLATED PROTECTION AND THE WORLD TRADE ORGANIZATION

T. Renee Bowen

International Economic Review, 2015, vol. 56, issue 4, 1349-1384

Abstract: Tariff bindings and administered protection are two characteristics of the World Trade Organization (WTO) that are little understood. Tariff bindings place a ceiling on tariffs that is not always reached, whereas administered protection provides all industries with some minimum import protection, effectively creating a floor for protection. How do these policies affect applied most favored nation (MFN) tariff rates that are enacted through the legislature? I model tariffs determined by a dynamic legislative process and show that low applied MFN tariffs are less likely with tariff bindings and more likely with administered protection than under purely legislated protection.

Date: 2015
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