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A diplomat's economics: reciprocity in the Uruguay Round negotiations

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  • FINGER, J. MICHAEL

Abstract

A diplomat's jurisprudence, as Bob Hudec characterized the early GATT legal system, was a compromise between jurisprudence as understood by lawyers and the reality of the limited influence trade negotiators had over national trade policy decisions. A diplomat's economics was a parallel compromise between economics as understood by economists and the reality of the many objectives that governments hoped the GATT would serve. As the GATT evolved into the WTO and took on more complicated areas of economic policy, its jurisprudence evolved with it, but its economics remained the same. When the bargain was tariff concessions versus tariff concessions, the difference between mercantilist economics and real economics did not matter, but in the new areas the WTO took on at the Uruguay Round it does matter. There is such a thing as comparative advantage among institutions, and in the new areas the WTO is at a comparative disadvantage relative to the international development banks.

Suggested Citation

  • Finger, J. Michael, 2005. "A diplomat's economics: reciprocity in the Uruguay Round negotiations," World Trade Review, Cambridge University Press, vol. 4(1), pages 27-40, March.
    • Handle: RePEc:cup:wotrrv:v:4:y:2005:i:01:p:27-40_00
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    Cited by:

    1. Adlung, Rudolf, 2009. "Services liberalization from a WTO/GATS perspective: In search of volunteers," WTO Staff Working Papers ERSD-2009-05, World Trade Organization (WTO), Economic Research and Statistics Division.
    2. Carsten Kowalczyk & Raymond Riezman, 2013. "Trade Agreements," Palgrave Macmillan Books, in: Daniel Bernhofen & Rod Falvey & David Greenaway & Udo Kreickemeier (ed.), Palgrave Handbook of International Trade, chapter 13, pages 367-388, Palgrave Macmillan.
    3. J. Michael Finger, 2008. "Developing Countries in the WTO System: Applying Robert Hudec's Analysis to the Doha Round," The World Economy, Wiley Blackwell, vol. 31(7), pages 887-904, July.
    4. Hamanaka, Shintaro, 2018. "Why breakup?: looking into unsuccessful free trade agreement negotiations," IDE Discussion Papers 697, Institute of Developing Economies, Japan External Trade Organization(JETRO).

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