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Trading Up

Economic Perspectives on Development Issues in the Multilateral Trading System

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The prospect of further trade liberalisation sometimes attracts a noisy public discourse, particularly with respect to the possible implications for developing countries. This volume considers trade and development from an economic perspective, aiming to examine these emotive issues using empirical approaches and dispassionate analysis. What are the potential welfare impacts on developing countries from further liberalisation?  What economic adjustments would such liberalisation entail?  What policy options exist for developing countries seeking to seize on new market opportunities while responding to the associated structural challenges? Trading Up:  Economic Perspectives on Development Issues in the Multilateral Trading System delivers new insights from the latest OECD and World Bank research on these questions and related topics.

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Global Merchandise Trade Reform

Disaggregating the Welfare Impacts

The welfare impacts of global trade policy reforms are typically compared to two reference situations, a current baseline and one following full merchandise trade reform. The first purpose of this chapter is to illustrate the gains that can be achieved in the latter situation and to highlight the sources of these gains, i.e. what proportion comes from different regions (e.g. high-income versus developing), what proportion comes from different sectors (e.g. agriculture versus manufacturing) and what proportion can be attributed to the so-called three pillars (market access, domestic support and export subsidies).

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