The value of making commitments externally: Evidence from WTO accessions

• 成果类型: Article
• 署名作者: Tang, Man-Keung; Wei, Shang-Jin
• 署名单位: Columbia University; National Bureau of Economic Research
• 刊物名称: JOURNAL OF INTERNATIONAL ECONOMICS
• ISSN/ISSBN: 0022-1996
• DOI: 10.1016/j.jinteco.2009.01.008
• 发表日期: 2009
• 页码: 216-229
• 关键词: trade; GROWTH; Economic reforms

摘要

This paper studies the value of external commitment to policy reforms in the case of WTO/GATT accessions. The accessions often entail reforms that go beyond narrowly defined trade liberalization, and have to overcome fierce resistance in the acceding countries, as reflected in protracted negotiations. We study the growth and investment consequences of WTO/GATT accessions, with attention to a possible selection bias. We find that the accessions tend to raise income, but only for those countries that were subject to rigorous accession procedures. Policy commitments associated with the accessions were helpful, especially for countries with poor governance. (C) 2009 Elsevier B.V. All rights reserved.