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Full-Text Articles in Law
Competition Policy And Free Trade: Antitrust Provisions In Ptas, Anu Bradford, Tim Büthe
Competition Policy And Free Trade: Antitrust Provisions In Ptas, Anu Bradford, Tim Büthe
Faculty Scholarship
Trade agreements increasingly contain provisions concerning ‘behind-the-border’ barriers to trade, often beyond current World Trade Organization (WTO) commitments (Dur, Baccini and Elsig 2014). Today’s preferential trade agreements (PTAs) may include, for instance, rules regarding ‘technical’ barriers to trade that go beyond the WTO’s Agreement on Technical Barriers to Trade (TBT Agreement), accelerating the replacement of differing national product safety standards with common international standards and thus reducing the trade-inhibiting effect of regulatory measures (Buthe and Mattli 2011; World Trade Organization 2012). Today’s PTAs may also go beyond WTO rules in prohibiting preferences for domestic producers in government procurement (Arrowsmith and …
The World Trading System, Jagdish N. Bhagwati
The World Trading System, Jagdish N. Bhagwati
Faculty Scholarship
The Uruguay Round is closing this week after a marathon of negotiations stretching well over seven years; so the timing of this panel is exquisite, from my viewpoint. The ceremony, besides, is in Marrakech, an exotic place that sets our minds racing with thoughts of "Casablanca," Humphrey Bogart and Ingrid Bergman. Indeed, one can imagine a movie being made of this historic occasion that will transform the General Agreement on Tariffs and Trade (GAIT) into the World Trade Organization (WTO), with Peter Ustinov cast as Peter Sutherland, the brilliant and portly new director general of the GAIT who finally brought …
Non-Economic Objectives And The Efficiency Properties Of Trade, Jagdish N. Bhagwati
Non-Economic Objectives And The Efficiency Properties Of Trade, Jagdish N. Bhagwati
Faculty Scholarship
It is well known (Kemp, 1962; Samuelson, 1962; Bhagwati, forthcoming) that, for a country with no monopoly power in trade (or domestic distortions), free trade (in the sense of a policy resulting in the equalization of domestic and foreign prices and hence excluding trade, production and consumption taxes, subsidies, and quantitative restrictions) is the optimal policy. It follows, therefore, that free trade is superior to no trade.
It has also been argued recently (Kemp, 1962), that, even in the case where there is monopoly power in trade, so that both no trade and free trade are suboptimal policies, it is …