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The GATT/WTO Welfare Effects: 1950-2015

Pao-Li Chang () and Wei Jin ()
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Pao-Li Chang: School of Economics, Singapore Management University
Wei Jin: School of Economics, Singapore Management University

No 2-2018, Economics and Statistics Working Papers from Singapore Management University, School of Economics

Abstract: This paper provides a comprehensive evaluation of the welfare impact of GATT/WTO in its entire history of 1950-2015 for 180 countries. The analysis embeds nonparametric matching methods in structural quantitative simulations. The results indicate substantial (but highly heterogeneous) welfare gains created by GATT/WTO at the global level and across more than six decades of its history. An extensive set of robustness checks with respect to model speci fications, parameter values, and matching estimations are provided. We also characterize the effects of GATT/WTO on global income disparity, its interaction with preferential trade agreements, and the effects of China's WTO entry.

Keywords: Matching estimator; Quantitative analysis; Welfare; Fi rm entry; Income disparity (search for similar items in EconPapers)
JEL-codes: F13 F14 F17 (search for similar items in EconPapers)
Pages: 68 pages
Date: 2017-12-31
New Economics Papers: this item is included in nep-his, nep-int and nep-sea
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