The WTO at 20: an economist’s perspective
Journal of International Trade Law and Policy
ISSN: 1477-0024
Article publication date: 21 September 2015
Abstract
Purpose
This paper aims to clarify the role that economic methodology and approach can help the World Trade Organization (WTO) Appellate Body (AB)make better decisions. The author discusses two prominent disputes to demonstrate how economics could have resulted in improved AB decision. First, there is the question of whether countervailing duties can continue to be imposed subsequent to privatization of state-owned enterprises. Second, there is the frequently challenged zeroing issue.
Design/methodology/approach
The author uses a case study method. He reviews the details of specific disputes and explains how standard microeconomic methods would have produced greater clarity in the determinations and hence promoted a more efficient dispute resolution process.
Findings
In this commentary, however, the author addresses a frustration with the AB, namely, the reluctance of the AB to embrace economics in its decision-making. He argues that economic methods would produce superior determinations.
Originality/value
This paper fulfils an identified need to document how economic methods would have led to better AB decisions.
Keywords
Citation
Prusa, T.J. (2015), "The WTO at 20: an economist’s perspective", Journal of International Trade Law and Policy, Vol. 14 No. 3, pp. 126-128. https://doi.org/10.1108/JITLP-09-2015-0024
Publisher
:Emerald Group Publishing Limited
Copyright © 2015, Emerald Group Publishing Limited