In the economic model that underlies the WTO the only group that can be expected to ask for protection is producers in importing countries. The existing multilateral trade architecture reflects that assumption. Much of the recent criticism of the multilateral trade regime has arisen as a result of new groups explicitly asking domestic politicians for protection. As these groups were not expecte...

This paper offers an economic assessment of the opportunities and challenges provided by the WTO’s Doha Development Agenda, particularly through agricultural trade liberalization, for low-income countries seeking to trade their way out of poverty. After discussing links between poverty, economic growth and trade, it reports modelling results showing that farm product markets remain the most cos...

This paper provides some new empirical perspectives on the relationship between international trade and macroeconomic fluctuations in industrial economies. First, a comprehensive set of stylized facts concerning fluctuations in trade variables and their determinants is presented. A measure of the quantitative importance of international trade for the propagation of domestic business cycles is t...

The establishment in 1995 of the World Trade Organization (WTO) and the adoption of international trade agreements pertaining to food regulation currently have a significant impact on domestic regulatory policies established by the U.S. Food and Drug Administration (FDA), U.S. Department of Agriculture (USDA) and other agencies responsible for protecting consumers and ensuring the safety of the...

arbitrator or private judge must be independent and impartial. domestic and international commercial arbitration law in many countries in addition to the obligation, the independence and impartiality of arbitrator, has other obligations, namely the obligation to disclose. arbitrator must disclose any relationship with the parties to arbitration. commitment to disclosure should not be mixing wit...

Why did the United States promote the increased legalization of the international trade regime during the Uruguay Round (1986-1994)? The WTO’s dispute settlement mechanism is more legalized than its GATT predecessor in several key respects: Rulings are binding, additional authority is delegated to a standing Appellate Body, and the process is rationalized and clarified in important ways. While ...

Using fixed effects panel data approach, this paper empirically examines the effects of trade and foreign direct investment (FDI) on growth in 13 transition economies of Central and Eastern Europe, and the Baltic region (CEEB). Our analysis suggests that significant positive effect of trade on growth is a robust result for transition economies of this region. In addition, domestic investment ap...