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Author | : Roman Grynberg |
Publisher | : Cambridge University Press |
Total Pages | : 735 |
Release | : 2006-12-14 |
Genre | : Law |
ISBN | : 1139460544 |
Download WTO at the Margins Book in PDF, ePub and Kindle
At a pivotal point in the history of the WTO, when development issues are at the heart of negotiations, how the larger and more powerful members address the legitimate concerns of its poorest and most vulnerable members will shape the perception of the institution throughout the century. This book aims not only to document almost ten years of experience of small states with the WTO but also to explain this experience. It takes an evidential theory approach to explaining the features characteristic to the trade and economic development of small island states. It then highlights the issues of concern to these states in relation to negotiations at the WTO. The experience of the African Caribbean and Pacific (ACP) countries with the WTO dispute settlement mechanism is discussed, and the book ends with a discussion of key negotiating issues for the island states and institutional arrangements to facilitate reform.
Author | : Pushan Dutt |
Publisher | : |
Total Pages | : 30 |
Release | : 2011 |
Genre | : |
ISBN | : |
Download Does WTO matter for the extensive and the intensive margins of trade? Book in PDF, ePub and Kindle
Author | : Alison Goodrum |
Publisher | : |
Total Pages | : 64 |
Release | : 2014 |
Genre | : Developing countries |
ISBN | : |
Download Trading on the Margins Book in PDF, ePub and Kindle
Building off of the analysis and statistical technique of Liu (2009), this paper examines the intersection between membership in the World Trade Organization and development status and their effects on the intensive and extensive margins of trade. This paper uses year by country pair panel data spanning the years 1950 to 2003 and covering 28,442 country pairs. Guided by the Helpman, Melitz and Rubinstein (2008) model of heterogeneous firms, this paper finds that the intersection between development status and WTO membership has a positive net effect on trade flows. Contrary to the previous literature, however, the net effects across the intensive and extensive margin are equivalent, suggesting that membership in the WTO both creates new trading partners and causes pre-existing partners to trade more.
Author | : Gabriel J. Felbermayr |
Publisher | : |
Total Pages | : 0 |
Release | : 2011 |
Genre | : |
ISBN | : |
Download Modelling the Extensive Margin of World Trade Book in PDF, ePub and Kindle
Recent literature has argued that, contrary to the results of a seminal paper by Rose (2004), General Agreement on Tariffs and Trade (GATT)/World Trade Organization (WTO) membership does promote bilateral trade, at least for developed economies and if membership includes non-formal compliance. We review the literature to identify open issues. We then develop a simple extension of the gravity model that gives rise to an extensive country margin of trade separating positive trade from zero trade country pairs. The model is used to identify WTO membership effects at both the intensive and the extensive margins. Empirical estimation of this model, based on Poisson pseudo-maximum likelihood methods with exporter and importer fixed effects, allows us to readdress the empirical issue of whether GATT/WTO membership does or does not promote trade. We find that GATT membership was successful on the extensive margin of world trade but not on the intensive margin. For the recent WTO episode (1995-2008), we find consistent and robust evidence for a substantial trade-creating role of membership which is driven primarily by the intensive margin. WTO membership results in higher bilateral trade of about 40 per cent.
Author | : Gabriel J. Felbermayr |
Publisher | : |
Total Pages | : 33 |
Release | : 2007 |
Genre | : |
ISBN | : |
Download Does WTO Membership Make a Difference at the Extensive Margin of World Trade? Book in PDF, ePub and Kindle
Author | : Pushan Dutt |
Publisher | : |
Total Pages | : 0 |
Release | : 2013 |
Genre | : |
ISBN | : |
Download The Effect of WTO on the Extensive and the Intensive Margins of Trade Book in PDF, ePub and Kindle
We use 6-digit bilateral trade data to document the effect of WTO/GATT membership on the extensive and intensive product margins of trade.We construct gravity equations for the two product margins motivated by Chaney (2008). The empirical results show that standard gravity variables provide good explanatory power for bilateral trade on both margins. Importantly, we show that the impact of the WTO is concentrated almost exclusively on the extensive product margin of trade, i.e. trade in goods that were not previously traded. In our preferred specification, WTO membership increases the extensive margin of exports by 25%. At the same time, WTO membership has a negative impact on the intensive margin. Based on novel comparative statics results about how fixed and variable trade costs impact the product margins of trade, our results suggest that WTO membership works by reducing primarily the fixed rather than the variable costs of trade.
Author | : Gabriel J. Felbermayr |
Publisher | : |
Total Pages | : 39 |
Release | : 2004 |
Genre | : |
ISBN | : |
Download Exploring the Intensive and Extensive Margins of World Trade Book in PDF, ePub and Kindle
World trade evolves at two margins. Where a bilateral trading relationship already exists it may increase through time (intensive margin). But trade may also increase if a trading bilateral relationship is newly established between countries that have not traded with each other in the past (extensive margin). We provide an empirical dissection of post-World-War-II growth in manufacturing world trade along these two margins. We propose a corner-solutions-versionʺ of the gravity model to explain movements on both margins. A Tobit estimation of this model resolves the so-called distance-puzzleʺ. It also finds more convincing evidence than recent literature that WTO-membership enhances trade.
Author | : |
Publisher | : |
Total Pages | : |
Release | : 2007 |
Genre | : |
ISBN | : |
Download Does WTO Membership Make a Difference at the Extensive Margin of World Trade?. Book in PDF, ePub and Kindle
Author | : Ana Fernandes |
Publisher | : International Monetary Fund |
Total Pages | : 66 |
Release | : 2018-12-07 |
Genre | : Business & Economics |
ISBN | : 1484386175 |
Download The Intensive Margin in Trade Book in PDF, ePub and Kindle
The Melitz model highlights the importance of the extensive margin (the number of firms exporting) for trade flows. Using the World Bank’s Exporter Dynamics Database (EDD) featuring firm-level exports from 50 countries, we find that around 50 percent of variation in exports is along the extensive margin—a quantitative victory for the Melitz framework. The remaining 50 percent on the intensive margin (exports per exporting firm) contradicts a special case of Melitz with Pareto-distributed firm productivity, which has become a tractable benchmark. This benchmark model predicts that, conditional on the fixed costs of exporting, all variation in exports across trading partners should occur on the extensive margin. We find that moving from a Pareto to a lognormal distribution allows the Melitz model to match the role of the intensive margin in the EDD. We use likelihood methods and the EDD to estimate a generalized Melitz model with a joint lognormal distribution for firm-level productivity, fixed costs and demand shifters, and use “exact hat algebra” to quantify the effects of a decline in trade costs on trade flows and welfare in the estimated model. The welfare effects turn out to be quite close to those in the standard Melitz-Pareto model when we choose the Pareto shape parameter to fit the average trade elasticity implied by our estimated Melitz-lognormal model, although there are significant differences regarding the effects on trade flows.
Author | : Marc Bacchetta |
Publisher | : |
Total Pages | : 0 |
Release | : 2012 |
Genre | : Political Science |
ISBN | : 9789287038128 |
Download A Practical Guide to Trade Policy Analysis Book in PDF, ePub and Kindle
Trade flows and trade policies need to be properly quantified to describe, compare, or follow the evolution of policies between sectors or countries or over time. This is essential to ensure that policy choices are made with an appropriate knowledge of the real conditions. This practical guide introduces the main techniques of trade and trade policy data analysis. It shows how to develop the main indexes used to analyze trade flows, tariff structures, and non-tariff measures. It presents the databases needed to construct these indexes as well as the challenges faced in collecting and processing these data, such as measurement errors or aggregation bias. Written by experts with practical experience in the field, A Practical Guide to Trade Policy Analysis has been developed to contribute to enhance developing countries' capacity to analyze and implement trade policy. It offers a hands-on introduction on how to estimate the distributional effects of trade policies on welfare, in particular on inequality and poverty. The guide is aimed at government experts engaged in trade negotiations, as well as students and researchers involved in trade-related study or research. An accompanying DVD contains data sets and program command files required for the exercises. Copublished by the WTO and the United Nations Conference on Trade and Development