Journal article
On the heterogeneous trade and welfare effects of GATT/WTO membership
Review of world economics, v 160(3), pp 983-1008
01 Aug 2024
Featured in Collection : UN Sustainable Development Goals @ Drexel
Abstract
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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Details
- Title
- On the heterogeneous trade and welfare effects of GATT/WTO membership
- Creators
- Gabriel Felbermayr - Austrian Institute of Economic ResearchMario Larch - University of BayreuthErdal Yalcin - HTWG Hochschule Konstanz - Technik, Wirtschaft und GestaltungYoto V. Yotov - Drexel University, Economics (School of Economics)
- Publication Details
- Review of world economics, v 160(3), pp 983-1008
- Publisher
- Springer Nature
- Number of pages
- 26
- Grant note
- Bertelsmann Foundation
- Resource Type
- Journal article
- Language
- English
- Academic Unit
- Economics (School of Economics)
- Web of Science ID
- WOS:001149926000001
- Scopus ID
- 2-s2.0-85183368005
- Other Identifier
- 991021861307504721
UN Sustainable Development Goals (SDGs)
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Source: SDGs in the Output
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- Collaboration types
- Domestic collaboration
- International collaboration
- Web of Science research areas
- Economics
- International Relations