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World trade is governed by the rules of the World Trade Organization (WTO), the successor to the General Agreement on Tariffs and Trade (GATT). The WTO sets rules of conduct for the international trade of goods and services and for intellectual property rights, provides a forum for multinational negotiations to resolve trade problems, and has a formal mechanism for dispute settlement. It is the primary institution working, through rule-based bargaining, at freeing trade. In this book, Kyle Bagwell and Robert Staiger provide an economic analysis and justification for the purpose and design of the GATT/WTO. They summarize their own research, discuss the major features of the GATT agreement, and survey the literature on trade agreements. Their focus on the terms-of-trade externality is particularly original and ties the book together. Topics include the theory of trade agreements, the origin and design of the GATT and the WTO, the principles of reciprocity, the most favored nation principle, terms-of-trade theory, enforcement, preferential trade agreements, labor and environmental standards, competition policy, and agricultural export subsidies.
Handbook of Commercial Policy explores three main topics that permeate the study of commercial policy. The first section presents a broad set of basic empirical facts regarding the pattern and evolution of commercial policy, with the second section investigating the crosscutting legal issues relating to the purpose and design of agreements. Final sections cover key issues of commercial policy in the modern global economy. Every chapter in the book provides coverage from the perspectives of multilateral, and where appropriate, preferential trade agreements. While most other volumes are policy-oriented, this comprehensive guide explores the ways that intellectual thinking and rigor organize research, further making frontier-level synthesis and current theoretical, and empirical, research accessible to all. - Covers the research areas that are critical for understanding how the world of commercial policy has changed, especially over the last 20 years - Presents the way in which research on the topic has evolved - Scrutinizes the economic modeling of bargaining and legal issues - Useful for examining the theory and empirics of commercial policy
Foundations of Real Estate Financial Modelling is specifically designed to provide an overview of pro forma modelling for real estate projects. The book introduces students and professionals to the basics of real estate finance theory before providing a step-by-step guide for financial model construction using Excel. The idea that real estate is an asset with unique characteristics which can be transformed, both physically and financially, forms the basis of discussion. Individual chapters are separated by functional unit and build upon themselves to include information on: Amortization Single-Family Unit Multi-Family Unit Development/Construction Addition(s) Waterfall (Equity Bifurcation) A...
The burning of fossil fuels and emission of greenhouse gasses critically impacts the global environment. By utilizing better techniques and process, businesses can aid in the journey to an economic, sustainable, and environmentally-friendly future for generations to come. Business Models for Renewable Energy Initiatives: Emerging Research and Opportunities is an essential reference source for the latest scholarly perspectives on present and future business models in the renewable energy sector. Featuring coverage on a range of perspectives and topics such as techno-economics, decentralized power systems, and risk assessment, this book is designed for academicians, students, and researchers seeking current scholarly research on green business opportunities for renewable energy.
In this timely volume emanating from the National Bureau of Economic Research's program in international economics, leading economists address recent developments in three important areas. The first section of the book focuses on international comparisons of output and prices, and includes papers that present new measures of product market integration, new methodology to infer relative factor price changes from quantitative data, and an ongoing capital stock measurement project. The next section features articles on international trade, including such significant issues as deterring child labor exploitation in developing countries, exchange rate regimes, and mapping U. S. comparative advantage across various factors. The book concludes with research on multinational corporations and includes a discussion of the long-debated issue of whether growth of production abroad substitutes for or is complementary to production growth at home. The papers in the volume are dedicated to Robert E. Lipsey, who for more than a half century at the NBER, contributed significantly to the broad field of empirical international economics.
The recent proliferation of free trade areas and customs unions in the world trading system has led to a revival of interest in the economic analysis of Preferential Trade Agreements (PTAs). The principal theoretical question of the 1950s and 1960s (Viner) was whether PTAs encourage or discourage the worldwide nondiscriminatory freeing of trade. The essays in this volume present the central contributions to the analytical approaches developed to examine these questions. -- Provided by publisher.
From the pen of highly esteemed trade scholar Alan Sykes, this book presents a rigorous introduction to the law and economics of modern international trade agreements. With a bottom-up approach that requires neither a background in international trade law nor significant economics training, Sykes sets out to map and explain the complex dynamics of international trade agreements and institutions, synthesising legal analysis and cutting-edge economic research in order to present the reader with a sophisticated, holistic view of the field.
The book provides theoretical and empirical evidence on how world trade evolves, how trade affects resource allocation, how trade competition affects productivity, how China shock affects world trade and how trade affects large and small countries. It is a useful reference which focuses on new approaches to international trade by looking into country-specific as well as firm-product level-specific cases.
A timely investigation into the conditions that make international agreements—and the institutions that enforce them—vulnerable. When do international institutions effectively promote economic cooperation among countries and help them resolve conflict? Although the international system lacks any central governing authority, states have created rules, particularly around international economic relations, and empowered international tribunals to enforce those rules. Just how successful are these institutions? In Delivering on Promises Lauren J. Peritz demonstrates that these international courts do indeed deliver results—but they are only effective under certain conditions. As Peritz sho...
Regional economic arrangements such as free trade areas (FTAs), customs unions, and currency blocs, have become increasingly prevalent in the world economy. Both pervasive and controversial, regionalization has some economists optimistic about the opportunities it creates and others fearful that it may corrupt fragile efforts to encourage global free trade. Including both empirical and theoretical studies, this volume addresses several important questions: Why do countries adopt FTAs and other regional trading arrangements? To what extent have existing regional arrangements actually affected patterns of trade? What are the welfare effects of such arrangements? Several chapters explore the economic effects of regional arrangements on patterns of trade, either on price differentials or via the gravity model on bilateral trade flows. In addition, this book examines the theoretical foundation of the gravity model. Making extensive use of the gravity model of bilateral trade, several chapters explore the economic effects of regional arrangements. In addition, this book examines the theoretical foundation of the gravity model.