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  1. The agreement on subsidies and countervailing measures
    tying one's hand through the WTO
    Erschienen: Nov. 2006
    Verlag:  Federal Reserve Bank of Chicago, Chicago, Ill.

    "Why would governments agree to restrict their own discretion in setting domestic policies as part of a trade agreement? This paper examines the welfare consequences of the GATT's Agreement on Subsidies and Countervailing Measures (SCM). If... mehr

    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
    W 88 (2006.22)
    keine Fernleihe

     

    "Why would governments agree to restrict their own discretion in setting domestic policies as part of a trade agreement? This paper examines the welfare consequences of the GATT's Agreement on Subsidies and Countervailing Measures (SCM). If countries which join a trade agreement are given free reign over the use of domestic production subsidies, then after negotiating tariff reductions, governments could undermine the agreement by introducing production subsidies to import-competing producers that effectively act as trade barriers. The SCM restricts the use of domestic subsidies by countries which have joined the WTO. Specifically, governments may not use sector-specific subsidies (agriculture is an exception) but they may subsidize their producers if they offer the same subsidy to all producers in their economies. I show that through an agreement like the SCM, governments can better achieve their goals of maximizing domestic welfare. This occurs because terms-of-trade concerns lead to subsidies in import- competing sectors that are higher than globally optimal and in export sectors that are lower than globally optimal. Therefore, a rule to require that subsidies be the same in all sectors forces a country to partially internalize these terms of trade externalities (by reducing subsidies to import-competing sectors and increasing subsidies to export sectors)"--Federal Reserve Bank of Chicago web site

     

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    Quelle: Verbundkataloge
    Sprache: Englisch
    Medientyp: Buch (Monographie)
    Format: Online
    Schriftenreihe: Working papers / Federal Reserve Bank of Chicago ; 2006-22
    Schlagworte: WTO-Recht; Subvention; Antidumping; Wohlfahrtsanalyse; Welt
    Weitere Schlagworte: Array
    Umfang: Online-Ressource, 35 S., Text, graph. Darst.
    Bemerkung(en):

    Title from PDF file as viewed on 1/18/2007

    Includes bibliographical references

    Also available in print