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The Dispute Settlement Mechanism of the WTO: A Brief History and an Evaluation from Economic, Contractarian and Legal Perspectives

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  • T. N. Srinivasan

Abstract

Any rule‐based system has to include a mechanism for the enforcement of its rules and a means for settlement of disputes about alleged violation of rules. The General Agreement on Tariffs and Trade (GATT), concluded in 1947, and its successor the World Trade Organisation (WTO) that subsumed it in 1995, embody rules governing the global trading system as specified in various agreements that their members have entered into over time. Naturally, both had a dispute settlement mechanism (DSM). It was a primarily political one in the GATT and was transformed into a largely legalistic one in the multilateral agreement that established the WTO. This paper reviews the history and evaluation of the two DSMs and examines their efficiency based on appropriate criteria. It views them from three alternative and overlapping perspectives: political‐diplomatic, legal‐economic and social. It concludes with a discussion of the unresolved problems in the operation of the WTO's DSM and the prospects of resolving them in the ongoing Doha Round of multilateral trade negotiations.

Suggested Citation

  • T. N. Srinivasan, 2007. "The Dispute Settlement Mechanism of the WTO: A Brief History and an Evaluation from Economic, Contractarian and Legal Perspectives," The World Economy, Wiley Blackwell, vol. 30(7), pages 1033-1068, July.
    • Handle: RePEc:bla:worlde:v:30:y:2007:i:7:p:1033-1068
    DOI: 10.1111/j.1467-9701.2007.01011.x
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    References listed on IDEAS

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    3. Bagwell, Kyle & Mavroidis, Petros C. & Staiger, Robert W., 2004. "The case for tradable remedies in WTO dispute settlement," Policy Research Working Paper Series 3314, The World Bank.
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    Cited by:

    1. Giovanni Maggi & Robert W. Staiger, 2009. "Breach, Remedies and Dispute Settlement in Trade Agreements," Cowles Foundation Discussion Papers 1735, Cowles Foundation for Research in Economics, Yale University.
    2. Beshkar, Mostafa, 2009. "Trade skirmishes and safeguards: A theory of the WTO Dispute Settlement Process," WTO Staff Working Papers ERSD-2009-09, World Trade Organization (WTO), Economic Research and Statistics Division.

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