Gabriel Felbermayr, Mario Larch, Erdal Yalcin, Yoto V. Yotov
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引用次数: 0
Abstract
We quantify the effects of GATT/WTO membership on trade and welfare. Using an extensive database covering manufacturing trade for 186 countries over the period 1980–2016, we find that the average partial equilibrium impact of GATT/WTO membership on trade among member countries is large, positive, and significant. We contribute to the literature by estimating country-specific estimates and find them to vary widely across the countries in our sample with poorer members benefitting more. Using these estimates, we simulate the general equilibrium effects of GATT/WTO on welfare, which are sizable and heterogeneous across members. We show that countries not experiencing positive trade effects from joining GATT/WTO can still gain in terms of welfare, due to lower import prices and higher export demand.
期刊介绍：
Review of World Economics is a quarterly journal. Under the name Weltwirtschaftliches Archiv, it was founded in 1913 as the world''s first journal with a focus on international economics. The Review has retained this focus, with particular emphasis on research in trade and trade policies, foreign direct investment, global supply chains, migration, international finance, currency systems and exchange rates, monetary and fiscal policies in open economies. The objective of the Review is to publish contributions of the highest quality and retain its status as one of the leading journals in international economics. Officially cited as: Rev World Econ
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