The Political Economy of the World Trading System / Edition 3

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This book is a comprehensive and non-technical introduction to the institutional mechanics, economics, and politics of the world trading system as embodied in the WTO. The WTO is the primary organization through which member states will manage their trade relations. It is also the forum in which attempts will be made in the future to expand the coverage of multilateral rules to new policies such as competition (antitrust) law and investment regulations. Understanding the reach and relevance of the organization is therefore important, and requires an interdisciplinary approach. Few countries allow unfettered market forces to determine the pattern and structure of trade and investment. Instead, governments develop policy in response to domestic political forces, taking into account likely reactions by trading partners. In discussing the WTO, the authors take a political economy-based approach that can explain these fundamental aspects of the 'real' world. This in turn helps to explain the successes and failures of international co-operation in trade policy, the primacy of negotiated solutions, and the challenges facing the WTO in the years to come as further efforts are made to extend the reach of multilateral policy disciplines. Extensive references are made to the existing literature, and guides to further reading are provided at the end of each chapter.
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Product Details

  • ISBN-13: 9780199553761
  • Publisher: Oxford University Press, USA
  • Publication date: 1/18/2010
  • Edition number: 3
  • Pages: 768
  • Product dimensions: 7.10 (w) x 9.80 (h) x 1.90 (d)

Meet the Author

Bernard Hoekman manages the World Bank's international trade department. Prior positions at the World Bank include Research Manager of the trade and international integration program in the Development Research Group, leading the trade capacity building program of the World Bank Institute and working as a trade economist in the Middle East/North Africa and Europe and Central Asia departments. He has published widely on the functioning of the multilateral trading system, trade in services, preferential trade agreements and trade and investment policy. Between 1988 and 1993 he worked as a research economist in the GATT Secretariat in Geneva. He is a graduate of the Erasmus University Rotterdam, holds a Ph.D. in economics from the University of Michigan and is a Research Fellow of the London-based Centre for Economic Policy Research.

Dr. Michel Kostecki is Professor and Deputy Dean of the Faculty of Economics of the University of Neuchâtel, Switzerland. He has been founding director of The Enterprise Institute at the same university and directed the joint doctoral program in Administrative Sciences of the French-speaking Swiss universities. He completed his PhD at the Graduate Institute of International Studies in Geneva and worked at the Institute of Operations Research and Applied Mathematics at the University of Zurich. During the Uruguay Round Professor Kostecki was Counsellor in the GATT (now WTO) secretariat. He was Professor of Business Economics at the Université de Montréal (HEC) in Canada and Investment Manager at a financial company of one of the leading German banks. He has published extensively on international trade and business, acted as consultant to organisations such as ASEAN, ICTSD, ITC, OECD, UNCTAD, World Bank, WTO, various ministries and multinational companies.

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Table of Contents

List of Figures xiii

List of Tables xv

List of Abbreviations xviii

Introduction 1

1 The Trading System in Perspective 7

2 The World Trade Organization 57

3 Dispute Settlement and Enforcement of Rules 84

4 Negotiating Forum 131

5 Trade in Goods 184

6 Sector-Specific Multilateral Trade Agreements 269

7 Trade in Services 317

8 Protection of Intellectual Property 370

9 Safeguards and Exceptions 413

10 Preferential Trade Agreements and Regional Integration 474

11 Plurilateral Agreements 512

12 Developing Countries and Economies in Transition 532

13 Towards Deeper Integration? The 'Trade and' Agenda 582

14 Legitimacy, Coherence and Governance 638

15 Where to from Here? 664

Appendix 1 GATT/WTO Membership, 2008 671

Appendix 2 The Economics of Trade Policy-Basic Concepts 676

Bibliography 700

Index 735

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