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The most-favored nation (MFN) obligation and exceptions (with a note on state trading enterprises)

In: The Law and Economics of International Trade Agreements

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Abstract

This chapter consider the law and economics of the most-favored nation (MFN) obligation and its exceptions. It considers the economic rationale for the MFN principle and the concepts of trade diversion and concession erosion. It discusses the meaning of “unconditional” MFN and associated controversies regarding conditionality, and the implications of the free rider problem that accompanies unconditional MFN. It surveys the rules regarding the creation of preferential trade agreements and their economic consequences. It also considers the Generalized System of Preferences for developing countries and its utility as a means to promote development, as well as the non-discrimination obligations imposed on state trading enterprises.

Suggested Citation

  • ., 2023. "The most-favored nation (MFN) obligation and exceptions (with a note on state trading enterprises)," Chapters, in: The Law and Economics of International Trade Agreements, chapter 7, pages 159-192, Edward Elgar Publishing.
    • Handle: RePEc:elg:eechap:21398_7
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