Economics Dictionary of ArgumentsHome
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| GATT: The General Agreement on Tariffs and Trade (GATT) was a multilateral treaty signed in 1947 by 23 countries. Its primary goal was to promote international trade by reducing or eliminating trade barriers like tariffs, quotas, and subsidies. GATT operated as a framework for trade negotiations and was ultimately succeeded by the World Trade Organization (WTO) in 1995. See also International trade, Tariffs, Taxation._____________Annotation: The above characterizations of concepts are neither definitions nor exhausting presentations of problems related to them. Instead, they are intended to give a short introduction to the contributions below. – Lexicon of Arguments. | |||
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Robert C. Feenstra on GATT - Dictionary of Arguments
Feenstra I 9-1 GATT/Feenstra: Bagwell and Staiger (1997(1), 2002(2)) examine the economic rationale for the trade rules embodied in the General Agreement on Trade and Tariffs (GATT) and the World Trade Organization (WTO). These rules include GATT’s principle of “reciprocity,” whereby each country agrees to reduce its trade barriers in return for a reciprocal reduction by another. Bagwell and Staiger’s framework is general enough to include both the median voter model and the “protection for sale” model (…). >Protection for sale. Feenstra I 9-2 Another importance principle of GATT is the “most favored nation” (MFN) provision, which states that all member countries of GATT should be granted the same tariffs. This provision is violated when countries join into regional trade agreements, granting zero tariffs to countries within but not outside the agreement. 1. Bagwell, Kyle and Robert W. Staiger, 1997, “An Economic Theory of GATT”, American Economic Review, 89(1), March, 215-248. 2. Bagwell, Kyle and Robert W. Staiger, 2002, The Economics of the World Trading System. Cambridge: MIT Press._____________Explanation of symbols: Roman numerals indicate the source, arabic numerals indicate the page number. The corresponding books are indicated on the right hand side. ((s)…): Comment by the sender of the contribution. Translations: Dictionary of Arguments The note [Concept/Author], [Author1]Vs[Author2] or [Author]Vs[term] resp. "problem:"/"solution:", "old:"/"new:" and "thesis:" is an addition from the Dictionary of Arguments. If a German edition is specified, the page numbers refer to this edition. |
Feenstra I Robert C. Feenstra Advanced International Trade University of California, Davis and National Bureau of Economic Research 2002 |
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