The Design of Trade Agreements
Kyle Bagwell and
Robert Staiger ()
No 22087, NBER Working Papers from National Bureau of Economic Research, Inc
What does economics have to say about the design of international trade agreements? We review a literature on this question, providing detailed coverage on three key design features of the GATT/WTO: reciprocity, nondiscrimination as embodied in the MFN principle, and tariff bindings and binding "overhang." Each of these features is central to the design of the GATT/WTO, and we argue that an economic perspective can go a long way toward revealing a consistent logic to the inclusion of these design features in trade agreements.
JEL-codes: F02 F13 (search for similar items in EconPapers)
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