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The ‘Real’ Impact of GATT/WTO – A Generalised Approach

28 Pages Posted: 22 Jun 2011  

Bernhard Herz

University of Bayreuth

Marco Wagner

University of Bayreuth - Faculty of Law, Business and Economics

Date Written: June 2011

Abstract

Rose’s result in 2004 that GATT/WTO has no significant impact on bilateral trade triggered off a series of empirical studies. Each of those studies augments Rose’s paper in one specific methodological aspect with the general finding that GATT/WTO significantly fosters members’ trade, although the estimated impact varies between 2 per cent and 195 per cent of trade creation. We combine the methodological contributions of previous studies to overcome these isolated approaches, to account for possible interactions and to develop a more general view on the impact of GATT/WTO. In particular, we find that GATT/WTO promotes members’ trade by around 86 per cent.

Suggested Citation

Herz, Bernhard and Wagner, Marco, The ‘Real’ Impact of GATT/WTO – A Generalised Approach (June 2011). The World Economy, Vol. 34, Issue 6, pp. 1014-1041, 2011. Available at SSRN: https://ssrn.com/abstract=1869527 or http://dx.doi.org/10.1111/j.1467-9701.2011.01362.x

Bernhard Herz (Contact Author)

University of Bayreuth ( email )

Universitatsstr 30
Bayreuth, D-95447
Germany

Marco Wagner

University of Bayreuth - Faculty of Law, Business and Economics ( email )

University of Bayreuth
Dept. of Law and Economics
Bayreuth, 95447
Germany
+49(0)921/552914 (Phone)
+49(0)921/552949 (Fax)

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