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Reciprocity In Free Trade Agreements
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Book Synopsis Reciprocity in Free Trade Agreements by : Caroline L. Freund
Download or read book Reciprocity in Free Trade Agreements written by Caroline L. Freund and published by . This book was released on 2016 with total page 35 pages. Available in PDF, EPUB and Kindle. Book excerpt: Freund uses detailed trade, tariff, and income data for countries involved in 91 trade agreements negotiated since 1980 to test for reciprocity in free trade agreements. The results offer strong evidence of reciprocity in North-North and South-South free trade agreements, but there is little empirical support for reciprocity in North-South trade agreements. In particular, after controlling for other determinants of trade preferences, the results suggest that a one percent increase in preferences offered leads to about a one-half of a percent increase in preferences received in North-North and South-South trade agreements. Freund also finds evidence that large countries extract greater trade concessions from small countries. This leads to a modified form of reciprocity in North-South agreements. A large increase in access to a developing country market leads to only a small increase in access to a rich country market.The results imply that there are incentives for countries to maintain protection in order to extract more concessions from trade partners. But in general, such perverse incentives should be less of a concern in developing countries involved in North-South agreements because the value of a developing country tariff preference in terms of its effect on trade preferences from a rich country is quite small. The gains from unilateral liberalization are likely to far outweigh potential gains from using protection as a bargaining chip in trade negotiations.The evidence is consistent with a repeated game model of trade liberalization. The model presented shows that trade preferences granted are increasing in trade preferences received. This implies that countries can extract greater concessions from trade agreement members if they have higher external trade barriers. However, if a country's trade barriers are very large then the gains from reneging on the agreement in the short run will be high, making the agreement unenforceable despite offering long-term gains. So, there is a reciprocity-credibility tradeoff. High tariffs may allow countries to extract more concessions from potential trade agreement partners, but they also make the country less credible in actually implementing agreed tariff concessions. If a country's external tariff is very high relative to other countries, then it will not be able to commit credibly to any free trade agreement.This paper is a product of Trade, Development Research Group.
Book Synopsis Reciprocal Trade by : United States Tariff Commission. Library
Download or read book Reciprocal Trade written by United States Tariff Commission. Library and published by . This book was released on 1937 with total page 442 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Reciprocal Trade Agreements by : United States. Congress. House. Committee on Ways and Means
Download or read book Reciprocal Trade Agreements written by United States. Congress. House. Committee on Ways and Means and published by . This book was released on 1934 with total page 556 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Empowering Exporters by : Michael J. Gilligan
Download or read book Empowering Exporters written by Michael J. Gilligan and published by University of Michigan Press. This book was released on 2010-08-27 with total page 298 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.
Book Synopsis Free Trade, the Tariff and Reciprocity by : Frank William Taussig
Download or read book Free Trade, the Tariff and Reciprocity written by Frank William Taussig and published by New York : The Macmillan Company. This book was released on 1920 with total page 240 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Reciprocity, Non-discrimination and Preferential Agreements in the Multilateral Trading System by : Kyle Bagwell
Download or read book Reciprocity, Non-discrimination and Preferential Agreements in the Multilateral Trading System written by Kyle Bagwell and published by . This book was released on 1997 with total page 64 pages. Available in PDF, EPUB and Kindle. Book excerpt: And non-discrimination, the two principles that are the pillars of the multi- lateral trading system as embodied in GATT and its successor, the WTO. We show that GATT's principle of reciprocity serves to neutralize the world-price effects of a country's trade policy decisions, and hence can deliver efficient trade-policy outcomes for its member governments provided that the externa- lities associated with trade intervention travel through world prices. We then establish that externalities indeed travel in this way if and only if tariffs also conform to the principle of non-discrimination (MFN). In this way, the principles of reciprocity and non-discrimination can work together to deliver efficient outcomes for the multilateral trading system. We also consider within our framework the implications of preferential agreements for the multilateral trading system. The introduction of free trade agreements com- plicates the way in which externalities are transmitted across countries, and in this environment the principle of reciprocity can not longer deliver efficient multilateral outcomes for its member governments. We do find a limited place for customs unions in the multilateral trading system, provided that the member countries of the union have similar political preferences. As these conditions are quite stringent, we offer little support for the hypothesis that the principle of reciprocity can deliver an efficient multi- lateral trade agreement in the presence of preferential agreements. Instead, our results offer support for the view that preferential agreements pose a threat to the existing multilateral system.
Book Synopsis Extension of Reciprocal Trade Agreements Act by : United States. Congress. Senate. Committee on Finance
Download or read book Extension of Reciprocal Trade Agreements Act written by United States. Congress. Senate. Committee on Finance and published by . This book was released on 1949 with total page 628 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Reciprocal Trade Agreements in the World Economy by : John M. Letiche
Download or read book Reciprocal Trade Agreements in the World Economy written by John M. Letiche and published by . This book was released on 1948 with total page 110 pages. Available in PDF, EPUB and Kindle. Book excerpt: Looks at basic principles of American commercial policies and trade agreements prior to 1934 and changes after the reciprocal trade agreements of 1934.
Book Synopsis Reciprocity, U.S. Trade Policy, and the GATT Regime by : Carolyn Rhodes
Download or read book Reciprocity, U.S. Trade Policy, and the GATT Regime written by Carolyn Rhodes and published by Cornell University Press. This book was released on 1993 with total page 272 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Free Trade Versus Reciprocity by : Samuel Smith
Download or read book Free Trade Versus Reciprocity written by Samuel Smith and published by . This book was released on 1885 with total page 30 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Reciprocity in the Foreign Trade Policy of the United States by : Bernard Francis Landuyt
Download or read book Reciprocity in the Foreign Trade Policy of the United States written by Bernard Francis Landuyt and published by . This book was released on 1938 with total page 28 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Reciprocal Trade by : United States Tariff Commission. Library
Download or read book Reciprocal Trade written by United States Tariff Commission. Library and published by . This book was released on 1940 with total page 248 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Negotiating Free-trade Agreements by : Walter Goode
Download or read book Negotiating Free-trade Agreements written by Walter Goode and published by . This book was released on 2009 with total page 208 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Going Alone by : Jagdish N. Bhagwati
Download or read book Going Alone written by Jagdish N. Bhagwati and published by Mit Press. This book was released on 2002 with total page 586 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.
Book Synopsis Extending Reciprocal Foreign Trade Agreement Act by : United States. Congress. House. Committee on Ways and Means
Download or read book Extending Reciprocal Foreign Trade Agreement Act written by United States. Congress. House. Committee on Ways and Means and published by . This book was released on 1937 with total page 574 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Reciprocal Trade by : United States Tariff Commission. Library
Download or read book Reciprocal Trade written by United States Tariff Commission. Library and published by . This book was released on 1937 with total page 436 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis The Reciprocal Trade Agreements Program by : James Constantine Pearson
Download or read book The Reciprocal Trade Agreements Program written by James Constantine Pearson and published by . This book was released on 1942 with total page 352 pages. Available in PDF, EPUB and Kindle. Book excerpt:
