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On the heterogeneous trade and welfare effects of GATT/WTO membership

  • We quantify the effects of GATT/WTO membership on trade and welfare. Using an extensive database covering manufacturing trade for 186 countries over the period 1980–2016, we find that the average partial equilibrium impact of GATT/WTO membership on trade among member countries is large, positive, and significant. We contribute to the literature by estimating country-specific estimates and find them to vary widely across the countries in our sample with poorer members benefitting more. Using these estimates, we simulate the general equilibrium effects of GATT/WTO on welfare, which are sizable and heterogeneous across members. We show that countries not experiencing positive trade effects from joining GATT/WTO can still gain in terms of welfare, due to lower import prices and higher export demand.

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Author:Gabriel FelbermayrORCiD, Mario Larch, Erdal YalcinORCiDGND, Yoto V. Yotov
Parent Title (English):Review of World Economics
Place of publication:Heidelberg
Document Type:Article
Year of Publication:2024
Release Date:2024/02/19
Tag:GATT; WTO; Heterogeneous policy effects; Welfare
Page Number:26
Corresponding author: Yoto V. Yotov
Relevance:Peer reviewed Publikation in Master Journal List
Open Access?:Nein
Licence (German):License LogoUrheberrechtlich geschützt