| Autor: |
Weihuan Zhou, Brett G. Williams |
| Rok vydání: |
2020 |
| Předmět: |
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| Zdroj: |
A Post-WTO International Legal Order ISBN: 9783030454272 |
| Popis: |
This chapter uses existing tools of public choice theory to predict how governments would behave in the absence of the set of constraints and incentives provided by WTO obligations. It argues that any attempt to overcome protectionist behaviour would need to incorporate the interest of exporters and the interest of other constituents pursuing non-protectionist regulatory goals. It shows how the existing WTO rules and its dispute settlement mechanism have largely incorporated such diverse interests and that the key to doing so has been the incorporation of the principles of the Generalized Theory of Distortions and Welfare into WTO rules. It concludes that if the WTO breaks down completely, there will be a need to construct a new regime for international trade regulation which would require similar sets of rules to restrain protectionist behaviour and strike a balance between liberalizing trade and preserving policy space, and that it would be of critical importance that such rules incorporate the guidance provided by the Generalized Theory of Distortions and Welfare, just as well or even better than the existing WTO rules do. |
| Databáze: |
OpenAIRE |
| Externí odkaz: |
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