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Multilateral Trade Rules and the Expected Cost of Protection

Author

Listed:
  • Francois, Joseph
  • Martin, Will

Abstract

Protection unconstrained by rules typically varies considerably over time. The policy disciplines introduced in the Uruguay Round in `new' areas such as agricultural, services, and developing country industrial protection will constrain, but not eliminate, this variability. The effects of these constraints on the expected costs of protection are examined, taking into account their impacts on both the first and second moments of the distribution of protection. As an application, we examine Uruguay Round agricultural bindings, finding substantial reductions in the expected cost of protection even in some cases where the bindings are above previous protection levels.

Suggested Citation

  • Francois, Joseph & Martin, Will, 1995. "Multilateral Trade Rules and the Expected Cost of Protection," CEPR Discussion Papers 1214, C.E.P.R. Discussion Papers.
    • Handle: RePEc:cpr:ceprdp:1214
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    Citations

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    Cited by:

    1. Ianchovichina, Elena, 2001. "Trade Liberalization in China’s Accession to WTO," Journal of Economic Integration, Center for Economic Integration, Sejong University, vol. 16, pages 421-445.
    2. Marc Bacchetta., 2007. "Market Access: Unfinished Business: Post-Uruguay Round Inventory and Issues," Working Papers id:1166, eSocialSciences.
    3. Mattoo, Aaditya, 1999. "Financial services and the World Trade Organization - liberalization commitments of the developing and transition economies," Policy Research Working Paper Series 2184, The World Bank.
    4. WTO Economic Research and Analysis Division, 2001. "Market Access: Unfinished Business - Post Uruguay Round Inventory and Issues," WTO Special Studies, World Trade Organization (WTO), Economic Research and Statistics Division, volume 6, number 6.
    5. Gabriele Orcalli, 2003. "A Constitutional Interpretation of the GATT/WTO," Constitutional Political Economy, Springer, vol. 14(2), pages 141-154, June.
    6. Bach, Christian F. & Martin, Will, 2001. "Would the right tariff aggregator for policy analysis please stand up?," Journal of Policy Modeling, Elsevier, vol. 23(6), pages 621-635, August.
    7. Hertel, Thomas W. & Bach, Christian F. & Dimaranan, Betina & Martin, Will, 1996. "Growth, globalization, and gains from the Uruguay Round," Policy Research Working Paper Series 1614, The World Bank.

    More about this item

    Keywords

    Expected Protection; Stochastic Protection; Tariff Bindings; Trade Liberalization; Trade Policy; Trade Rules;
    All these keywords.

    JEL classification:

    • F11 - International Economics - - Trade - - - Neoclassical Models of Trade
    • F13 - International Economics - - Trade - - - Trade Policy; International Trade Organizations

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