On the Virtues of Multilateral Trade Negotiations

25 Pages Posted: 3 Jan 2006

See all articles by Kym Anderson

Kym Anderson

University of Adelaide - Centre for International Economic Studies (CIES); Centre for Economic Policy Research (CEPR); Australian National University

Abstract

Phasing out distortionary government subsidies and barriers to international trade will yield extraordinarily high benefits relative to any adjustment costs, notwithstanding the considerable reforms that have already taken place over the past two decades. The present paper surveys recent estimates, using global economy-wide simulation models, of the benefits of reducing remaining distortions by means of unilateral reform, multilateral trade negotiations and preferential trading arrangements. Distortionary trade policies harm most the economies imposing them, but the worst of them (in agriculture and clothing) are particularly harmful to the world's poorest people. Opportunities to reduce remaining distortions, including by means of the WTO's Doha Development Agenda as compared with subglobal preferential reform, are examined, before drawing out the implications of liberalisation for poverty and the environment.

JEL Classification: F02, F13, F15, F17

Suggested Citation

Anderson, Kym, On the Virtues of Multilateral Trade Negotiations. Economic Record, Vol. 81, No. 255, pp. 414-438, December 2005, Available at SSRN: https://ssrn.com/abstract=857564 or http://dx.doi.org/10.1111/j.1475-4932.2005.00279.x

Kym Anderson (Contact Author)

University of Adelaide - Centre for International Economic Studies (CIES) ( email )

School of Economics
Adelaide SA 5005
Australia
+61 8 8313 4712 (Phone)
+61 8 8223 1460 (Fax)

Centre for Economic Policy Research (CEPR)

London
United Kingdom

Australian National University ( email )

Arndt-Corden Dept of Economics
Coombs Building
Canberra, AK ACT 2600
Australia
+61 8 8313 4712 (Phone)

HOME PAGE: http://publicpolicy.anu.edu.au/crawford_people/content/staff/acde/kanderson.php

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