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WTO and World Trade Challenges in a New Era

:	Günter Heiduk, Karyiu Wong
:	Günter S. Heiduk, Kar-yiu Wong
:	WTO and World Trade Challenges in a New Era
:	Physica-Verlag
:	9783790816303
:	1
:	CHF 132.70
:

:	Internationale Wirtschaft
:	English

:	321
:	Wasserzeichen/DRM
:	PC/MAC/eReader/Tablet
:	PDF

Giinter S. Heiduk* and Kar-yiu Wong** * Institute of International and Regional Economic Relations, University of Du- burg-Essen, Campus Duisburg, Germany ** Department of Economics, University of Washington, Seattle, USA The rapid growth of world trade has become one of the most phenomenal features of the international order after the World War. While different countries were - periencing various growth rates of their economies, most of them found out that foreign trade grew much faster than their economies. As a matter of fact, for most economies, foreign trade has been determined to be one of the biggest and the most consistent contributors to economic growth. Nowadays world trade is a very complicated phenomenon because it is not just an economic but also a social, political, environmental, labour, and legal matter. Economists care about world trade because economies are getting more and more open and world trade is related to the properties of open economies. Government planners care about world trade because it is related to many issues that the economies are facing: Resource allocation, income distribution, employment, p- duction, consumption, government revenue, economic growth, and economic w- fare. A right trade policy will enhance the economic welfare and growth of the economy in a more harmonious and equitable way. A wrong policy, however, could spell disaster.

	Contents	6
	Introduction	8
	Non-Drastic Technology Transfer in an International Oligopoly	13
	1 Introduction	13
	2 The Basic Model	15
	3 The Effects of Anticipated Government Intervention	21
	4 Optimal Precommitted Tax	26
	5 Optimal Time-Path when Technology Transfer Takes Time	28
	6 Concluding Remarks	31
	Comment	37
	References	38
	Income Redistribution, Trade Prices, and International Capital in Simulated Trade Models	39
	Introduction	39
	Theoretical Anticipations	40
	Simulations of Factor Proportions Models of Production and Trade	40
	Relative Influence of Factor Shares and Substitution	42
	Simulations of Specific Factors Models	43
	Conclusion	45
	References	45
	Comment	47
	Reference	48
	On Two Elementary Propositions on Customs Unions	49
	1 Introduction	49
	2 The Model of World Trade	52
	3 The Kemp-Wan Proposition on Customs Unions	53
	4 The Case of Retaliation by the Rest of the World	59
	5 Conclusions	64
	References	65
	Comment	67
	Trade with Labor Market Distortions and Heterogeneous Labor: Why Trade Can Hurt	70
	1 Introduction	70
	2 The Ricardian Model	72
	3 Specific Factors Model	77
	4 Heckscher-Ohlin Model	82
	5 Conclusion	86
	Comment	89
	The Impact of Intra-lndustry Trade on the Environment	91
	1 Introduction	91
	2 Basic Model	94
	3 Multiple Firms	105
	4 The Repeated Game	110
	5 In the Presence of Tariff-Jumping FDI	117
	6 Conclusion	124
	References	126
	Comment	128
	International Business Cycle Transmission in a Dynamic Multi- Sectoral Heckscher- Ohlin Model	130
	1 Introduction	130
	2 The Model	131
	3 Solving the Model	137
	4 Conclusion	147
	Appendix	149
	Comment	156
	References	158
	Political Support or Contributions: An Empirical Investigation of US Trade Policy	159
	1 Introduction	159
	2 Theoretical Approaches to Endogenous Protection	161
	3 Empirical Methodology	165
	4 Data6	167
	5 Empirical Results	168
	6 Model Comparisons	169
	7 Summary and Conclusions	171
	Appendix: Description of Variables	172
	References	175
	Comment	177
	References	185
	Minimum Quality Standard and International Rivalry in Quality and Price	186
	1 Introduction	186
	2 The Model	188
	3 International Rivalry	190
	4 Minimum Quality Standard	197
	5 Minimum Quality Standard and Tariff	202
	6 Concluding Remarks	207
	References	213
	Comment	214
	Reforms of Quantitative Import Restrictions and Fair Wage Unemployment	216
	1 Introduction	216
	2 Equilibrium in the Domestic Economy	217
	3 Welfare Effects of Quota Reforms	222
	4 A Graphical Illustration	227
	5 Conclusion	229
	Appendix	230
	Acknowledgements	231
	References	231
	Comment	233
	Trade Games: Modelling WTO's Role in Trade Disputes	235
	1 Introduction	235
	2 The Model	237
	3 Monte Carlo Simulation	242
	4 Conclusion	247
	References	247
	Comment	249
	Modelling the Impact of China's WTO Membership on Its Investment and Growth: A New Flexible Keynesian Approach	251
	1 Introduction	251
	2 Trends in China's Main Economic Activities (1960-1999)	252
	3 Modelling China's Economy: A Multi-Sectoral Flexible CGE- Keynesian Approach	254
	4 Impact and Forecasting Study: Alternative Methodologies	256
	5 Modelling China's Economy: Performance of Alternative Methodologies	259
	6 Measuring the Impact of China's WTO Membership on Investment, Consumption and Growth	259
	Case Study	262
	References	264
	Appendix: Performance of the 2SHI Estimator Under the Generalised Pitman Nearness Criterion	266
	1 Introduction	266
	2 The Model and the Estimators	267
	3 Comparison of the Estimators	267
	4 Simulation Results on the Performance of the 2SHI	268
	References	273
	Comment	274
	WTO Dispute Settlement in Action: An Economic Analysis of Four EU- US Mini Trade Wars	280
	1 Introduction	280
	2 The Hormones Case	282
	3. The Bananas Case	289
	4. The FSC Case	297
	5 The Steel Case	301
	6 How to Improve the WTO-DSU Sanctions Mechanism?	306
	References	311
	Comment	317
	List of Contributors	320