This volume provides a state of the art review of current thinking on the full range of trade policy issues, addressing the economic and political dimensions of international trade policy. The volume contains a systematic examination of: specific trade policy instruments (such as tariffs, non-tariff barriers and trade rules); sectoral concerns (in agriculture, manufacturing and services); trade linkages (to issues such as the environment and labour standards); and, systemic considerations (what role for the WTO?) The organising theme of the volume is that open markets for trade and investment yield large potential gains in human welfare as long as trade policy is conducted as an integral part of broader domestic economic management and regulatory reform, and as long as the particular challenges facing developing countries are effectively addressed. This 'case' is presented on the basis of rigorous analysis of first principles and of empirical experience among key trading nations. This title presents an integrated set of original and comprehensive perspectives from a diverse group of experts, linked by a common organisational thread. The contributing authors create an ideal mix of internationally recognised experts together with younger specialists making their mark in trade policy analysis; academics as well as trade policy practitioners; and representatives of both developed and developing countries.
Introduction; Part I The Political and Economic Context of Trade Policy: Free trade versus protection: an intellectual history, Razeen Sally; The political economy of international trade, Ken Heydon; The evolution of the international trading system, Stephen Woolcock.; Part II Outstanding Issues in Key Policy Areas: Do import tariffs still matter?, Przemyslav Kowalski; Non-tariff measures, Michael Ferrantino; Commercial instruments, Patrick Messerlin and Stephen Woolcock; Trade facilitation, Andrew Grainger.; Part III Sectoral Challenges: Agriculture, Stefan Tangermann; Trade in services, Christopher Roberts and Ken Heydon; Changes in the value chain of manufacturing industries: a Japanese perspective, Risaburo Nezu.; Part IV Related Complexities: Trade and investment, Sebastien Miroudot; Trade and competition policy, Kamala Dawar and Peter Holmes; Environmental protection, international trade and the WTO, Robert Falkner and Nico Jaspers; Trade and risk assessment, David Robertson; Trade and labour standards, Gote Hansson; Intellectual property rights and trade, Meir Pugatch.; Part V Trade and Development: Trade openness and growth miracles: a fresh look at Taiwan, Arvind Panagariya; The evolution of special and differential treatment and aid for trade, Matthias Meyer and Peter Lunenborg; Trade preferences for developing countries: the case of the European Union, Chris Stevens; Professional services in Africa: how regional integration can help, Nora Dihel, Ana Fernandes and Aaditya Mattoo.; Part VI The WTO and Multilateralism: Structure and function of the WTO, John Jackson and Steve Charnovitz; Preferential agreements and multilateralism, Mark Manger.; Part VII Trade Policymaking: Regional Perspectives: The United States: trade policy sleeping: short nap or long slumber?, Gary Hufbauer and Kati Suominen; The functioning of the European Union's trade policy, Joakim Reiter; Trade policymaking in Latin America, Alejandro Jara and Sebastan Herreros; Trade policymaking in East Africa, Peter Kiuluku and Caiphas Chekwoti; China's trade policymaking: domestic interests and post-WTO contestations, Yang Jiang.; Part VIII Conclusions: Trends in the trading system and challenges ahead, Ken Heydon and Stephen Woolcock; Index..
