Policy Externalities and International Trade Agreements

The book Policy Externalities and International Trade Agreements is a selection of published articles examining how policy externalities motivate and can be addressed by international trading institutions. The studies provide groundbreaking evidence of the role of international market power and policy uncertainty as motives for trade agreements and on the potential clash between preferential trade liberalization (e.g. European Union, NAFTA) and multilateral agreements (WTO). The studies presented in this book not only identify and estimate how different policies interact with each other and across agreements, but also examine how international trading institutions can be used to limit redistribution towards special interest groups and enforce better cooperation across issues, such as labor and the environment, and between developing and developed countries.
Contents:IntroductionInternational Externalities and the Role of International Trade Agreements:Optimal Tariffs and Market Power: The EvidenceUncertainty and Trade AgreementsTrade and Investment under Policy Uncertainty: Theory and Firm EvidenePolicy Uncertainty, Trade, and Welfare: Theory and Evidence for China and the United StatesDomestic Externalities and the Role of International Trade Agreements:Policy Choice: Theory and Evidence from Commitment via International Trade AgreementsA Bargaining Theory of Inefficient Redistribution PoliciesInequality and Endogenous Trade Policy OutcomesExternalities and Linkage of Cooperation Across Policies:Trade Policy, Cross-border Externalities and Lobbies: Do Linked Agreements Enforce More Cooperative Outcomes?Are Preferential Trade Agreements with Non-trade Objectives a Stumbling Block for Multilateral Liberalization?Size Inequality, Coordination Externalities and International Trade AgreementsTariff Retaliation versus Financial Compensation in the Enforcement of International Trade AgreementsPolicy Externalities Across Agreements: Multilateral vs. Preferential Liberalization:Preferential Trade Agreements as Stumbling Blocks for Multilateral Trade Liberalization: Evidence for the United StatesThe Clash of Liberalizations: Preferential vs. Multilateral Trade Liberalization in the European UnionTrade Preferences to Small Developing Countries and the Welfare Costs of Lost Multilateral Liberalization
Readership: For researchers and graduate students, economics and finance professionals. Trade;International Trade;WTO;World Trade Organization;Investment;Globalization;Externality;Policy;Cooperation0Key Features:This book provides a unifying framework of the role of policy externalities to understand several key issues in the current wave of globalization, such as the interaction between trade and environmental issues, preferential and multilateral agreements, and the redistribution effects of trade liberalizationIt draws on the expertise of some of the world's leading economists on these issues, who include Allan Drazen (University of Maryland), Giovanni Maggi (Yale University), Marcelo Olarreaga (University of Geneva), Arvind Panagariya (Columbia University), Kamal Saggi (Vanderbilt University) and David Weinstein (Columbia University)