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Author: Jagdish N. Bhagwati Publisher: Mit Press ISBN: 9780262025218 Category : Business & Economics Languages : en Pages : 586
Book Description
An analytic and empirical study of unilateral trade liberalization agreements, from the nineteenth century to the present. Since the end of World War II, the freeing of trade has been most visible in reciprocal liberalization agreements negotiated under the General Agreement on Tariffs and Trade, or GATT, and through increasing bilateral and plurilateral agreements. There has also, however, been a significant, if less visible, unilateral freeing of trade by several nations. This book, based on a research project directed by Jagdish Bhagwati, examines the experiences with such unilateral trade liberalization. Part 1 considers historical experiences, following Britain's unilateral embrace of free trade. Part 2 discusses recent examples, and Part 3 discusses unilateral liberalization in specific sectors. The substantive introduction provides a synthesis of the findings as well as theoretical support. It argues that although unilateral freeing of trade is generally less beneficial than reciprocity, it can trigger "sequential" reciprocity through example or by encouraging lobbies abroad to favor trade expansion.
Author: Jagdish N. Bhagwati Publisher: Mit Press ISBN: 9780262025218 Category : Business & Economics Languages : en Pages : 586
Book Description
An analytic and empirical study of unilateral trade liberalization agreements, from the nineteenth century to the present. Since the end of World War II, the freeing of trade has been most visible in reciprocal liberalization agreements negotiated under the General Agreement on Tariffs and Trade, or GATT, and through increasing bilateral and plurilateral agreements. There has also, however, been a significant, if less visible, unilateral freeing of trade by several nations. This book, based on a research project directed by Jagdish Bhagwati, examines the experiences with such unilateral trade liberalization. Part 1 considers historical experiences, following Britain's unilateral embrace of free trade. Part 2 discusses recent examples, and Part 3 discusses unilateral liberalization in specific sectors. The substantive introduction provides a synthesis of the findings as well as theoretical support. It argues that although unilateral freeing of trade is generally less beneficial than reciprocity, it can trigger "sequential" reciprocity through example or by encouraging lobbies abroad to favor trade expansion.
Author: Thomas O. Bayard Publisher: Peterson Institute for International Economics ISBN: Category : Business & Economics Languages : en Pages : 538
Book Description
Should the United States use retaliatory threats to open foreign markets or deter unfair trading practices? This study reexamines the arguments for and against reciprocity and retaliatory threats in light of actual experience since early 1975, especially the United States' aggressive use of the section 301, special 301, and super 301 provisions of US trade law, which gives the president broad authority to retaliate against "unjustifiable, unreasonable, or discriminatory" foreign trade practices. It analyzes the advantages and disadvantages of these policies and the circumstances under which they are likely to succeed or fail. The study contains an empirical assessment of all section 301 cases concluded between 1975 and 1993. It also provides detailed case studies of various trade conflicts, including the super 301 negotiations involving Japan, Brazil, India, Taiwan, and Korea, financial services disputes with Japan and the European Union, the US-EU conflict over oilseeds, and the US-Japan beef and citrus negotiations. It concludes with an assessment of how the world trading system will change in the aftermath of the Uruguay Round of multilateral negotiations and why it is necessary and desirable for US policy to move from aggressive unilateralism to a strategy of aggressive multilateralism.
Author: Jagdish N. Bhagwati Publisher: Princeton University Press ISBN: 1400824346 Category : Business & Economics Languages : en Pages : 143
Book Description
Free trade, indeed economic globalization generally, is under siege. The conventional arguments for protectionism have been discredited but not banished. And free trade faces strong new challenges from a variety of groups, including environmentalists and human rights activists as well as traditional lobbies who wrap their agendas in the language of justice and rights. These groups, claiming a general interest and denouncing free trade as a special interest of corporations and other capitalist forces, have organized large and vocal protests in Seattle, Prague, and elsewhere. Based on his acclaimed Stockholm lectures and picking up where his widely influential Protectionism left off, Jagdish Bhagwati applies critical insights from revolutionary developments in commercial policy theory--many his own--to show how the pursuit of social and environmental agendas can be creatively reconciled with the pursuit of free trade. Indeed, he argues that free trade, by raising living standards, can serve these agendas far better than can a descent into trade sanctions and restrictions. After settling the score in favor of free trade, Professor Bhagwati considers alternative ways in which it can be pursued. Chiefly, he argues in support of multilateralism and advances a withering critique of recent bilateral and regional free trade agreements (including NAFTA) as preferential arrangements that introduce growing chaos into the world trading system. He also makes a strong case for "going it alone" on the road to trade liberalization and endorses the reemergence of unilateral liberalization at points around the globe. Forcefully, elegantly, and clearly written for the public by one of the foremost economic thinkers of our day, this volume is not merely accessible but essential reading for anyone interested in economic policy or in the world economy.
Author: Michael J. Gilligan Publisher: University of Michigan Press ISBN: 0472027158 Category : Political Science Languages : en Pages : 298
Book Description
Until the New Deal, most groups seeking protection from imports were successful in obtaining relief from Congress. In general the cost of paying the tariffs for consumers was less than the cost of mounting collective action to stop the tariffs. In 1934, with the passage of the Reciprocal Trade Agreements Act, all of this changed. The six decades that followed have produced a remarkable liberalization of trade policy in the United States. This occurred despite the fact that domestic politics, according to some of the best developed theories, should have prevented this liberalization. Michael Gilligan argues that liberalization has succeeded because it has been reciprocal with liberalization in other countries. Our trade barriers have been reduced as an explicit quid pro quo for reduction of trade barriers in other countries. Reciprocity, Gilligan argues, gives exporters the incentive to support free trade policies because it gives them a clear gain from free trade and thus enables the exporters to overcome collective action problems. The lobbying by exporters, balancing the interests of groups seeking protection, changes the preferences of political leaders in favor of more liberalization. Gilligan tests his theory in a detailed exploration of the history of American trade policy and in a quantitative analysis showing increases in the demand for liberalization as the result of reciprocity in trade legislation from 1890 to the present. This book should appeal to political scientists, economists, and those who want to understand the political underpinnings of American trade policy. Michael J. Gilligan is Assistant Professor of Politics, New York University.
Author: Douglas A. Irwin Publisher: University of Chicago Press ISBN: 022639901X Category : Political Science Languages : en Pages : 873
Book Description
A Foreign Affairs Best Book of the Year: “Tells the history of American trade policy . . . [A] grand narrative [that] also debunks trade-policy myths.” —Economist Should the United States be open to commerce with other countries, or should it protect domestic industries from foreign competition? This question has been the source of bitter political conflict throughout American history. Such conflict was inevitable, James Madison argued in the Federalist Papers, because trade policy involves clashing economic interests. The struggle between the winners and losers from trade has always been fierce because dollars and jobs are at stake: depending on what policy is chosen, some industries, farmers, and workers will prosper, while others will suffer. Douglas A. Irwin’s Clashing over Commerce is the most authoritative and comprehensive history of US trade policy to date, offering a clear picture of the various economic and political forces that have shaped it. From the start, trade policy divided the nation—first when Thomas Jefferson declared an embargo on all foreign trade and then when South Carolina threatened to secede from the Union over excessive taxes on imports. The Civil War saw a shift toward protectionism, which then came under constant political attack. Then, controversy over the Smoot-Hawley tariff during the Great Depression led to a policy shift toward freer trade, involving trade agreements that eventually produced the World Trade Organization. Irwin makes sense of this turbulent history by showing how different economic interests tend to be grouped geographically, meaning that every proposed policy change found ready champions and opponents in Congress. Deeply researched and rich with insight and detail, Clashing over Commerce provides valuable and enduring insights into US trade policy past and present. “Combines scholarly analysis with a historian’s eye for trends and colorful details . . . readable and illuminating, for the trade expert and for all Americans wanting a deeper understanding of America’s evolving role in the global economy.” —National Review “Magisterial.” —Foreign Affairs
Author: Thomas Weir Pauken Ii Publisher: World Scientific ISBN: 9811204160 Category : Political Science Languages : en Pages : 343
Book Description
'The author has skilfully distilled a sea of data into a readable book on the current US-China trade spats … A valuable resource for those wishing to untangle the present complicated economic relationship between China and the US.'CHOICEUS vs China: From Trade War to Reciprocal Deal gives readers an up close account on the rough-and-tumble trade talks between the US and China. The book provides a neutral and balanced perspective in addressing the historical, political and cultural backgrounds that had made US-China trade wars inevitable, but also explores how the two richest and most powerful countries and long-time rivals may eventually reach a consensus to support a bilateral trade agreement for the ages.Related Link(s)
Author: Aaditya Mattoo Publisher: World Bank Publications ISBN: 1464815542 Category : Political Science Languages : en Pages : 821
Book Description
Deep trade agreements (DTAs) cover not just trade but additional policy areas, such as international flows of investment and labor and the protection of intellectual property rights and the environment. Their goal is integration beyond trade or deep integration. These agreements matter for economic development. Their rules influence how countries (and hence, the people and firms that live and operate within them) transact, invest, work, and ultimately, develop. Trade and investment regimes determine the extent of economic integration, competition rules affect economic efficiency, intellectual property rights matter for innovation, and environmental and labor rules contribute to environmental and social outcomes. This Handbook provides the tools and data needed to analyze these new dimensions of integration and to assess the content and consequences of DTAs. The Handbook and the accompanying database are the result of collaboration between experts in different policy areas from academia and other international organizations, including the International Trade Centre (ITC), Organisation for Economic Co-operation and Development (OECD), United Nations Conference on Trade and Development (UNCTAD), and World Trade Organization (WTO).
Author: Publisher: Elsevier ISBN: 0444639268 Category : Business & Economics Languages : en Pages : 600
Book Description
Handbook of Commercial Policy explores three main topics that permeate the study of commercial policy. The first section presents a broad set of basic empirical facts regarding the pattern and evolution of commercial policy, with the second section investigating the crosscutting legal issues relating to the purpose and design of agreements. Final sections cover key issues of commercial policy in the modern global economy. Every chapter in the book provides coverage from the perspectives of multilateral, and where appropriate, preferential trade agreements. While most other volumes are policy-oriented, this comprehensive guide explores the ways that intellectual thinking and rigor organize research, further making frontier-level synthesis and current theoretical, and empirical, research accessible to all. - Covers the research areas that are critical for understanding how the world of commercial policy has changed, especially over the last 20 years - Presents the way in which research on the topic has evolved - Scrutinizes the economic modeling of bargaining and legal issues - Useful for examining the theory and empirics of commercial policy
Author: Jagdish N. Bhagwati
Author: Jagdish N. Bhagwati
Author: Thomas O. Bayard
Author: Carolyn Rhodes
Author: Jagdish N. Bhagwati
Author: Michael J. Gilligan
Author: Douglas A. Irwin
Author: Thomas Weir Pauken Ii
Author: Frank William Taussig
Author: Aaditya Mattoo
Author: