On the Virtues of Multilateral Trade Negotiations*

Abstract

Phasing out distortionary government subsidies and barriers to international trade will yield extraordinarily high benefits relative to any adjustment costs, notwithstanding the considerable reforms that have already taken place over the past two decades. The present paper surveys recent estimates, using global economy‐wide simulation models, of the benefits of reducing remaining distortions by means of unilateral reform, multilateral trade negotiations and preferential trading arrangements. Distortionary trade policies harm most the economies imposing them, but the worst of them (in agriculture and clothing) are particularly harmful to the world's poorest people. Opportunities to reduce remaining distortions, including by means of the WTO's Doha Development Agenda as compared with subglobal preferential reform, are examined, before drawing out the implications of liberalisation for poverty and the environment.

Environmentally Sustainable Agriculture and Future Developments of the CAP

“…There is a discussion among EU institutions as to whether it will be possible to maintain income support in the long run, either due to international trade negotiations under WTO or due to the ongoing internal discussion within the EU about budget allocations. 7 Some argue that survival of the CAP requires a complete reframing of agricultural support so as to represent compensation for services delivered, particularly environmental protection. 8 The counter-argument, promoted by the Directorate General for Agriculture, is that compensating farmers for complying with environmental regulation would undermine the polluterpays-principle, according to which the farmer should pay for not complying with environmental standards.…”

Unión Europea y Japón: ¿El tratado de libre comercio más grande del mundo?

“…Según Anderson (2005), desde la perspectiva del sistema multilateral de comercio, el mundo debe propender por la disminución de todas aquellas políticas restrictivas de tipo BA y BNA que terminan interfiriendo en la circulación de los flujos comerciales; situación que de acuerdo a la evidencia empírica perjudica a la mayoría de las economías que adoptan este tipo de medidas proteccionistas, puesto que se generan situaciones de ineficiencia y distorsiones, dentro de los intercambios comerciales de los países.…”

Globalisation and the Size Distribution of Firms*

“…For some less efficient firms, globalisation may mean the erosion of their monopoly powers and the exit from production. Even though globalisation can be beneficial to the world (Anderson, 2005), issues associated with globalisation, such as the operation of the international financial system (Stiglitz, 2002) and foreign ownership (Ishikawa et al , 2009), have led to heated debate. There are many interesting questions associated with globalisation to be addressed.…”