Political Economy Of Antidumping And Safeguards In Argentina

Download Political Economy Of Antidumping And Safeguards In Argentina full books in PDF, epub, and Kindle. Read online Political Economy Of Antidumping And Safeguards In Argentina ebook anywhere anytime directly on your device. Fast Download speed and no annoying ads. We cannot guarantee that every ebooks is available!

Political Economy of Antidumping and Safeguards in Argentina

Author : Julio J. Nogués
Publisher : World Bank Publications
ISBN 13 :
Total Pages : 41 pages
Book Rating : 4./5 ( download)

DOWNLOAD NOW!

Book Synopsis Political Economy of Antidumping and Safeguards in Argentina by : Julio J. Nogués

Download or read book Political Economy of Antidumping and Safeguards in Argentina written by Julio J. Nogués and published by World Bank Publications. This book was released on 2005 with total page 41 pages. Available in PDF, EPUB and Kindle. Book excerpt: Abstract: "Beginning in the late 1980s, Argentina implemented a series of reforms that were revolutionary in speed and scope, including trade liberalization. After the implementation of these policies, a record number of antidumping petitions came forward. Under a situation of high inflation, the government reinforced its fiscal and monetary policies by announcing that it would minimize the use of such measures. The flexible disciplines of the existing domestic antidumping regulations facilitated this objective. Later, when the GATT/WTO-sanctioned trade remedies were implemented, the government made a serious attempt to establish discipline by including liberal regulations and creating special institutional arrangements. A presumption built into the construction of the new mechanisms was that adhering to WTO requirements would strengthen the resistance against protection. This presumption turned out to be false. Changing circumstances, including severe peso overvaluation, had significant effects on the number and outcome of antidumping investigations. Regarding safeguards, the government followed the letter and the spirit of the WTO agreement. In relation to the number of petitions, few measures have been implemented. Rejections were based on a concern for consumer costs and on failure of the industry seeking protection to provide a convincing modernization plan. This, plus the fact that some cases were brought to the WTO Dispute Settlement Body, have made safeguards a less attractive instrument for protection-seekers than antidumping. An important positive side of the story is that unlike previous balance of payments adjustments, in spite of the major crisis that followed the recent devaluation, the hard-won liberalization has been maintained."--World Bank web site.

Political Economy of Antidumping and Safeguards in Argentina

Author : Julio J. Nogu??s
Publisher :
ISBN 13 :
Total Pages : pages
Book Rating : 4.:/5 (931 download)

DOWNLOAD NOW!

Book Synopsis Political Economy of Antidumping and Safeguards in Argentina by : Julio J. Nogu??s

Download or read book Political Economy of Antidumping and Safeguards in Argentina written by Julio J. Nogu??s and published by . This book was released on 2012 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: Beginning in the late 1980s, Argentina implemented a series of reforms that were revolutionary in speed and scope, including trade liberalization. After the implementation of these policies, a record number of antidumping petitions came forward. Under a situation of high inflation, the government reinforced its fiscal and monetary policies by announcing that it would minimize the use of such measures. The flexible disciplines of the existing domestic antidumping regulations facilitated this objective. Later, when the GATT/WTO-sanctioned trade remedies were implemented, the government made a serious attempt to establish discipline by including liberal regulations and creating special institutional arrangements. A presumption built into the construction of the new mechanisms was that adhering to WTO requirements would strengthen the resistance against protection. This presumption turned out to be false. Changing circumstances, including severe peso overvaluation, had significant effects on the number and outcome of antidumping investigations. Regarding safeguards, the government followed the letter and the spirit of the WTO agreement. In relation to the number of petitions, few measures have been implemented. Rejections were based on a concern for consumer costs and on failure of the industry seeking protection to provide a convincing modernization plan. This, plus the fact that some cases were brought to the WTO Dispute Settlement Body, have made safeguards a less attractive instrument for protection-seekers than antidumping. An important positive side of the story is that unlike previous balance of payments adjustments, in spite of the major crisis that followed the recent devaluation, the hard-won liberalization has been maintained.

Political-Economy of Safeguards and Antidumping in Argentina

Author : Julio J. Nogues
Publisher :
ISBN 13 :
Total Pages : 0 pages
Book Rating : 4.:/5 (137 download)

DOWNLOAD NOW!

Book Synopsis Political-Economy of Safeguards and Antidumping in Argentina by : Julio J. Nogues

Download or read book Political-Economy of Safeguards and Antidumping in Argentina written by Julio J. Nogues and published by . This book was released on 2005 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Starting in the late 80s, Argentina implemented a series of reforms that were revolutionary in speed and scope, including trade liberalization. After implementation of these policies, a record number of antidumping (AD) petitions came forward. Under a situation of high inflation, the government reinforced its fiscal and monetary policies by announcing that it would minimize the use of such measures. The flexible disciplines of the existing domestic AD regulations faciliated this objective. Later, when the GATT/WTO-sanctioned trade remedies were implemented, the Government made a serious attempt to establish discipline by including liberal regulations, and creating special institutional arrangements. A presumption built into construction of the new mechanisms was that adhering to WTO requirements would strengthen the resistance against protection. This presumption turned out to be false. Changing circumstances including severe peso overvaluation, had significant impacts on the number and outcome of AD investigations.

WTO Safeguards and Trade Liberalization

Author : Elías Baracat
Publisher : World Bank Publications
ISBN 13 :
Total Pages : 37 pages
Book Rating : 4./5 ( download)

DOWNLOAD NOW!

Book Synopsis WTO Safeguards and Trade Liberalization by : Elías Baracat

Download or read book WTO Safeguards and Trade Liberalization written by Elías Baracat and published by World Bank Publications. This book was released on 2005 with total page 37 pages. Available in PDF, EPUB and Kindle. Book excerpt: Abstract: The footwear case provides an example of the complexities of World Trade Organization (WTO) rules on the use of safeguards, and of the interaction of multilateral and regional processes of liberalization. As a result both of Argentina's unilateral liberalization and the removal of barriers within Mercosur, imports of footwear increased rapidly. As Mercosur provides no intra-regional safeguard mechanism, the government of Argentina responded by applying import relief and WTO safeguards against third countries. The WTO Dispute Settlement Body addressed these measures and as a consequence, Argentina dismantled most of them, leading to four main conclusions: The jurisprudence of the WTO's Appellate Body has created serious uncertainty as to when a country can use safeguards. This does not contribute to the political balance that has to be maintained when developing countries implement trade liberalization programs. In fact, it detracts from this crucial goal. It is an error to negotiate ambiguous multilateral agreements on the expectation that the WTO Dispute Settlement mechanism will clarify them. An overvalued currency heightened the industry's problems. In the case of footwear, the decline in imports following the recent devaluation was more important than that following the implementation of earlier relief measures. The political economy of liberalization also indicates the need for regional agreements to include adequate transition mechanisms that will facilitate adjustment to free trade and to maintain support for it.

Safeguards and Antidumping in Latin American Trade Liberalization

Author : J. Michael Finger
Publisher : World Bank Publications
ISBN 13 : 0821363093
Total Pages : 312 pages
Book Rating : 4.8/5 (213 download)

DOWNLOAD NOW!

Book Synopsis Safeguards and Antidumping in Latin American Trade Liberalization by : J. Michael Finger

Download or read book Safeguards and Antidumping in Latin American Trade Liberalization written by J. Michael Finger and published by World Bank Publications. This book was released on 2005-12-05 with total page 312 pages. Available in PDF, EPUB and Kindle. Book excerpt: Until the 1990s, the main users of safeguards and antidumping laws were Australia, Canada, the European Union, and the United States. Since then, many countries have implemented such laws, leading to a proliferation in antidumping and safeguard activity across the world. This timely book documents the political economy surrounding the implementation of these laws in seven Latin American countries and provides details on the institutions created, implementation of the laws, and subsequent activity. It finds that, in the larger political context, antidumping and safeguards are a necessary quid pro quo to certain important sectors to obtain much more liberalized trade policies for the general economy.

Anti-dumping Laws and Practices of the New Users

Author : Junji Nakagawa
Publisher : Cameron May
ISBN 13 : 1905017251
Total Pages : 390 pages
Book Rating : 4.9/5 (5 download)

DOWNLOAD NOW!

Book Synopsis Anti-dumping Laws and Practices of the New Users by : Junji Nakagawa

Download or read book Anti-dumping Laws and Practices of the New Users written by Junji Nakagawa and published by Cameron May. This book was released on 2007 with total page 390 pages. Available in PDF, EPUB and Kindle. Book excerpt: More and more members of the WTO are using anti-dumping (AD) measures as an effective tool for protecting domestic industries facing competition with foreign products. In contrast to the 'big four' (US, EC, Canada and Australia), which have been using AD measures frequently since the GATT era, many of the new users established their AD regimes and began to use them after the establishment of the WTO. Why are there more and more new users? How are they applying AD measures? Do they comply with the rules of the WTO Anti- Dumping Agreement? What are their specific characteristics in the handling of AD cases? What should exporters and practitioners do to prepare for AD investigations by the new users? Based on extensive analyses of primary materials and hearings from practitioners and AD authorities, this book provides detailed and updated information to answer these questions on the following new users: China, Chinese Taipei, Korea, Thailand, India, South Africa, Mexico, Argentina, and Brazil.

China's Growing Role in World Trade

Author : Robert C. Feenstra
Publisher : University of Chicago Press
ISBN 13 : 0226239721
Total Pages : 603 pages
Book Rating : 4.2/5 (262 download)

DOWNLOAD NOW!

Book Synopsis China's Growing Role in World Trade by : Robert C. Feenstra

Download or read book China's Growing Role in World Trade written by Robert C. Feenstra and published by University of Chicago Press. This book was released on 2010-03-10 with total page 603 pages. Available in PDF, EPUB and Kindle. Book excerpt: In less than three decades, China has grown from playing a negligible role in international trade to being one of the world's largest exporters, a substantial importer of raw materials, intermediate outputs, and other goods, and both a recipient and source of foreign investment. Not surprisingly, China's economic dynamism has generated considerable attention and concern in the United States and beyond. While some analysts have warned of the potential pitfalls of China's rise—the loss of jobs, for example—others have highlighted the benefits of new market and investment opportunities for US firms. Bringing together an expert group of contributors, China's Growing Role in World Trade undertakes an empirical investigation of the effects of China's new status. The essays collected here provide detailed analyses of the microstructure of trade, the macroeconomic implications, sector-level issues, and foreign direct investment. This volume's careful examination of micro data in light of established economic theories clarifies a number of misconceptions, disproves some conventional wisdom, and documents data patterns that enhance our understanding of China's trade and what it may mean to the rest of the world.

Guide to International Anti-Dumping Practice

Author : Derk Bienen
Publisher : Kluwer Law International B.V.
ISBN 13 : 904114692X
Total Pages : 704 pages
Book Rating : 4.0/5 (411 download)

DOWNLOAD NOW!

Book Synopsis Guide to International Anti-Dumping Practice by : Derk Bienen

Download or read book Guide to International Anti-Dumping Practice written by Derk Bienen and published by Kluwer Law International B.V.. This book was released on 2013-09-01 with total page 704 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book is the first to bring together the actual practices and procedures in all the major users of anti-dumping. The countries surveyed include all the so-called ‘traditional’ users (Australia, Canada, the EU, New Zealand, South Africa, and the United States) as well as the leading ‘new’ users (Argentina, Brazil, China, India, Korea, Mexico, and Turkey). The book provides not only an overview of each of the systems considered but also a detailed reference to the way different jurisdictions have handled specific issues. In addition, the structure for each chapter is virtually identical, allowing for a ready comparative analysis of various topics. These topics include the following: ; applicable legislation, regulations, prescribed guidelines and procedures; decision-making process and time-line; the likelihood of an investigation leading to the imposition of measures; statistics 1995–2011 with details of actual investigations and duties imposed; threshold of injury and calculation of non-injurious price; establishment of causal link; verification reports, hearings, access to information, and other procedural issues; reviews and refunds; and anti-circumvention measures. An introductory chapter provides a comparative statistical analysis of the use of anti-dumping by the thirteen countries, highlighting key features of anti-dumping systems in a comparative way. The introduction also assesses the important impacts of China’s accession to the WTO in 2001 and of the economic and financial crisis of 2008–2009, discusses the treatment of non-market economies, and notes emerging tendencies in anti-dumping reform. This is an invaluable work on a key area in trade (and competition) law, written by a team of well-known experts. With its comprehensive and practical format, the book will be of great interest to practitioners dealing with anti-dumping cases, including trade law practitioners who may have to defend anti-dumping cases in different jurisdictions, attorneys in international trade law and competition law, government officials, academics, and researchers.

The Political Economy of the World Trading System

Author : Bernard M. Hoekman
Publisher :
ISBN 13 : 0199553777
Total Pages : 766 pages
Book Rating : 4.1/5 (995 download)

DOWNLOAD NOW!

Book Synopsis The Political Economy of the World Trading System by : Bernard M. Hoekman

Download or read book The Political Economy of the World Trading System written by Bernard M. Hoekman and published by . This book was released on 2009 with total page 766 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Political Economy of the World Trading System is a comprehensive textbook account of the economics, institutional mechanics and politics of the world trading system. This third edition has been expanded and updated to cover developments in the World Trade Organisation (WTO) since its formation, including the Doha Round, presenting the essentials of trade negotiations and the WTO's rules and disciplines. The authors focus in particular on the WTO's role as the primary organisation through which trading nations manage their commercial interactions and the focal point for cooperation on policy responses to the rapidly changing global trading environment. It is the forum in which many features of the globalisation process are considered, and it currently faces an unprecedented set of challenges. The increasing importance of countries in Asia, Latin America and Africa in international trade relations, the revealed preference towards regionalism, intensification of trade conflicts, the role of business groups and NGOs in trade policy formation and negotiations, and pressures for more leadership in an institution threatened by paralysis are examples of issues that are discussed in some detail; all are critical for the operation of the system and for international business in the coming decade. This edition also includes numerous real-world examples to illustrate how the WTO impinges on business, workers and households, written from the perspective of managers and business associations. An insider's view of the institutional history of the WTO allows the authors to use a variety of conceptual tools to analyse the working of the WTO in a non-technical manner. Suggestions for Further Reading at the end of each chapter and an extensive bibliography make the volume suitable both for introductory and postgraduate courses on international economics and business, international relations, and international economic law.

Dispute Settlement at the WTO

Author : Gregory C. Shaffer
Publisher : Cambridge University Press
ISBN 13 : 1139493280
Total Pages : 373 pages
Book Rating : 4.1/5 (394 download)

DOWNLOAD NOW!

Book Synopsis Dispute Settlement at the WTO by : Gregory C. Shaffer

Download or read book Dispute Settlement at the WTO written by Gregory C. Shaffer and published by Cambridge University Press. This book was released on 2010-11-18 with total page 373 pages. Available in PDF, EPUB and Kindle. Book excerpt: This examination of the law in action of WTO dispute settlement takes a developing-country perspective. Providing a bottom-up assessment of the challenges, experiences and strategies of individual developing countries, it assesses what these countries have done and can do to build the capacity to deploy and shape the WTO legal system, as well as the daunting challenges that they face. Chapters address developing countries of varying size and wealth, including China, India, Brazil, Argentina, Thailand, South Africa, Egypt, Kenya and Bangladesh. Building from empirical work by leading academics and practitioners, this book provides a much needed understanding of how the WTO dispute settlement system actually operates behind the scenes for developing countries.

Industrial Policy and the World Trade Organization

Author : Sherzod Shadikhodjaev
Publisher : Cambridge University Press
ISBN 13 : 1108581455
Total Pages : 349 pages
Book Rating : 4.1/5 (85 download)

DOWNLOAD NOW!

Book Synopsis Industrial Policy and the World Trade Organization by : Sherzod Shadikhodjaev

Download or read book Industrial Policy and the World Trade Organization written by Sherzod Shadikhodjaev and published by Cambridge University Press. This book was released on 2018-11-08 with total page 349 pages. Available in PDF, EPUB and Kindle. Book excerpt: The severe global financial crisis of 2008 could not be overcome without government interventions through industrial policy. This timely book analyses industrial policy from the perspectives of trade law and economics under the WTO system. The author expertly examines both general tools of protecting and supporting domestic producers and specific topics like special economic zones, localization, greening measures and creative economy. In addition to legal texts and jurisprudence, this book extensively utilizes other WTO materials to show what is actually discussed in WTO meetings and forums on relevant issues. Where applicable, the author advances practical recommendations for 'right' or 'optimal' industrial policy in certain contexts based on trade rules, case law and some countries' real experiences. The author concludes this work with some thoughts on concrete actions to be taken at the WTO and national levels and in academic circles in order to better tackle industrial policy issues.

Economic Policy 53

Author : Georges De Menil
Publisher : John Wiley & Sons
ISBN 13 : 1444306707
Total Pages : 204 pages
Book Rating : 4.4/5 (443 download)

DOWNLOAD NOW!

Book Synopsis Economic Policy 53 by : Georges De Menil

Download or read book Economic Policy 53 written by Georges De Menil and published by John Wiley & Sons. This book was released on 2009-04-20 with total page 204 pages. Available in PDF, EPUB and Kindle. Book excerpt: Top economists provide a concise and accessible evaluation of major developments in trade and trade policy. Examination of key issues pertinent to the multinational trading system, as well as regional trade arrangements and policy developments at the national level. Provides up-to-date assessments of the World Trade Organization's current Trade Policy Reviews. Economic Policy is written for all those with an informed interest in economic policy problems. All articles are submitted to rigorous scrutiny by a panel of distinguished economists from around the world, resulting in a volume of authoritative and accessible articles, each followed by the comments of panel members.

Sustaining Trade Reform

Author : Elías A. Baracat
Publisher : World Bank Publications
ISBN 13 : 082139987X
Total Pages : 167 pages
Book Rating : 4.8/5 (213 download)

DOWNLOAD NOW!

Book Synopsis Sustaining Trade Reform by : Elías A. Baracat

Download or read book Sustaining Trade Reform written by Elías A. Baracat and published by World Bank Publications. This book was released on 2013-08-05 with total page 167 pages. Available in PDF, EPUB and Kindle. Book excerpt: Factually, the principal finding of this book is that the trade policy reforms introduced by Peru in the 1990s have continued over several changes of president, whereas similar reforms in Argentina have been reversed. In both countries, the reforms included the introduction of new mechanisms for managing trade policy as well as the reduction of restrictions. Throughout the decade beginning in 2000, Peru’s liberalization expanded. The new institutions became more robust, and through them pressures for protection were effectively contained. At the same time, Argentine trade policy returned to the high-protection import substitution regime in place before the 1990s reforms. Multiple restrictions have been imposed, mostly through a reversion to informal methods that abjure the governance characteristics that the 1990s reforms introduced. The difference between the two cases cannot be explained by economic parameters such as resource endowments or external shocks. Peru’s reforms manifest the buoyant and confident attitude toward the global economy that reform leaders were able to introduce into Peruvian politics. In the words of former president Alan García, there is an eagerness to “climb up on the wave of growth.” In comparison, Argentina’s current development strategy sees international trade as detrimental to Argentina’s interests unless participation by Argentine buyers and sellers is guided by government intervention. The Peruvian case provides examples of successfully managing the politics of reform and the technical aspects of policy so as to establish transparent and participatory processes that weigh accurately the impact of trade policy on all affected domestic parties. The Argentine case demonstrates that the World Trade Organization legal system is not an effective restraint on a government that wants to revert to an import substitution regime. International cooperation has been useful when it has recognized and influenced domestic sovereignty over economic regulation; however, it is not been useful when approached as a matter of international regulation of national actions.

The Oxford Handbook of the Political Economy of International Trade

Author : Lisa L. Martin
Publisher : Oxford University Press
ISBN 13 : 0190266961
Total Pages : 576 pages
Book Rating : 4.1/5 (92 download)

DOWNLOAD NOW!

Book Synopsis The Oxford Handbook of the Political Economy of International Trade by : Lisa L. Martin

Download or read book The Oxford Handbook of the Political Economy of International Trade written by Lisa L. Martin and published by Oxford University Press. This book was released on 2015-04-23 with total page 576 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Oxford Handbook of the Politics of International Trade surveys the literature on the politics of international trade and highlights the most exciting recent scholarly developments. It examines the impact of domestic societal actors, domestic institutions, and international interactions on trade policy and trade flows, as well as building on this basic analytical framework. Including contributions from prominent scholars around the globe, and from multiple theoretical and methodological traditions, the volume considers the development of concepts and policies about international trade; the influence of individuals, firms, and societies; the role of domestic and international institutions; and the interaction of trade and other issues, such as monetary policy, environmental challenges, and human rights. Showcasing both established theories and findings and cutting-edge new research, the Handbook is a valuable reference for scholars of political economy.

Legal-Economic Institutions, Entrepreneurship, and Management

Author : Nezameddin Faghih
Publisher : Springer Nature
ISBN 13 : 3030609782
Total Pages : 293 pages
Book Rating : 4.0/5 (36 download)

DOWNLOAD NOW!

Book Synopsis Legal-Economic Institutions, Entrepreneurship, and Management by : Nezameddin Faghih

Download or read book Legal-Economic Institutions, Entrepreneurship, and Management written by Nezameddin Faghih and published by Springer Nature. This book was released on 2021-04-07 with total page 293 pages. Available in PDF, EPUB and Kindle. Book excerpt: The study of dynamics of institutional change in emerging markets are subjects of great interest in contemporary political economy. The dynamics and quality of institutional change can have significant impacts on the long-run performance of economies, economic growth and development of nations, and play a fundamental role in societies. It provides a comprehensive understanding of legal-economic institutions, and sheds light on the way to global peace by producing a better understanding of the dynamics of historical change. Topics range from institutional uncertainty, hybrid market order and labor market institutions, to good governance of institutions and WTO rules as trade institutions, as well as entrepreneurship and institutional change in emerging markets, and the role of modern technologies. This edited volume emphasizes legal-economic institutions, and the role of management and entrepreneurship on dynamics, trends, and implications of institutional change in emerging markets. Presenting research articles by eminent scholars and experts engaged in education and research, who address and discuss the most recent issues in the field, they reveal new insights into the dynamics of institutional change for researchers interested in development of new theories and comparative studies, especially in the era of emerging markets. The book is appealing to a wide range of global audience, can serve as a useful reference work in education and research, offers innovative and productive discussions, and can satisfy scholarly and intellectual interests, regarding institutional development and a broad spectrum of its interactions with functioning of markets and economies.

Antidumping and Safeguard Measures in the Political Economy of Liberalization

Author : Luz Elena Reyes De la Torre
Publisher :
ISBN 13 :
Total Pages : 68 pages
Book Rating : 4.:/5 (318 download)

DOWNLOAD NOW!

Book Synopsis Antidumping and Safeguard Measures in the Political Economy of Liberalization by : Luz Elena Reyes De la Torre

Download or read book Antidumping and Safeguard Measures in the Political Economy of Liberalization written by Luz Elena Reyes De la Torre and published by . This book was released on 2005 with total page 68 pages. Available in PDF, EPUB and Kindle. Book excerpt: "Mexico's creation and use of safeguard and antidumping processes to advance its liberalization illustrate three key points: (1) The country was able to use the instruments without losing political control. In a period of crisis that threatened congressional approval of critical steps in the liberalization-brought on by currency overvaluation and recession, along with unexpected demands from the United States in the North American Free Trade Agreement negotiations-the government applied a number of trade defense measures. Once the problems were addressed with adequate instruments the number of measures dropped drastically. The instruments had not been captured by protection-seeking interests;

The Political Economy of the World Trading System : WTO and Beyond

Author : Bernard Hoekman
Publisher : OUP Oxford
ISBN 13 : 0191522252
Total Pages : 580 pages
Book Rating : 4.1/5 (915 download)

DOWNLOAD NOW!

Book Synopsis The Political Economy of the World Trading System : WTO and Beyond by : Bernard Hoekman

Download or read book The Political Economy of the World Trading System : WTO and Beyond written by Bernard Hoekman and published by OUP Oxford. This book was released on 2001-07-19 with total page 580 pages. Available in PDF, EPUB and Kindle. Book excerpt: The creation of the World Trade Organization (WTO) in 1995 ushered in a new era in world trading arrangements. Building on the General Agreement on Trades and Tariffs (GATT), the intergovernmental treaty that for 50 years had regulated international trade relations, the WTO is a global organization of equal standing to the International Monetary Fund and the World Bank, and will set the agenda for international trade for decades to come. The authors of this volume were heavily involved in the Uruguay Round of GATT negotiations that laid the foundations for the creation of the WTO, and were ideally placed to see how the politics of negotiation affects the economics of trade. The Political Economy of the World Trading System is the first comprehensive and accessible introduction to the institutional mechanics, economics, and politics of the global trading networks. It goes beyond description of the rules of the WTO to analyse the political and economic forces that sculpted them, the incentives for countries to abide by them, and the likely future direction of the organization. The authors show how governments are not necessarily the social welfare-maximizing entities often found in textbooks, but instead develop policy subject to the pressures of a variety of interest groups. Although economic theory suggests that countries should pursue liberal trade policies and exchange goods and services on the basis of their comparative advantage, in practice most nations actively intervene in international trade. The political economy approach taken in this volume explains how the WTO functions, why GATT has been very successful in reducing tariffs, and why it has proven much more difficult to expand the reach of multilateral disciplines to domestic policies impacting on trade. This book will increase the reader's understanding of international economics, business, and international relations by supplying in-depth insider knowledge of how trade negotiations take place, how this decision-making affects trade policy, and how the multilateral arrangements that shape world trade are created. This information is crucial to understand why WTO rules are phrased as they are, and to understand the processes by which business organizations, industrial associations, and political lobbies influence the multilateral trading system. In this expanded and thoroughly revised edition, the authors have taken account of the recent developments in international trade relations, included an extra chapter on the historical importance of international trading arrangements, and updated all the references and guides to further reading.