The ‘Real’Impact of GATT/WTO : a Generalised Approach

Titelangaben

Herz, Bernhard ; Wagner, Marco:
The ‘Real’Impact of GATT/WTO : a Generalised Approach.
In: The World Economy. Bd. 34 (2011) Heft 6 . - S. 1014-1041.
ISSN 1467-9701
DOI: https://doi.org/10.1111/j.1467-9701.2011.01362.x

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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.