Proposals for WTO Reform: A Synthesis and Assessment

28 Pages Posted: 20 Apr 2016

See all articles by Bernard Hoekman

Bernard Hoekman

European University Institute - Robert Schuman Centre for Advanced Studies (RSCAS); Centre for Economic Policy Research (CEPR); Economic Research Forum (ERF)

Date Written: January 1, 2011

Abstract

This paper summarizes the major arguments and proposals to reform the modus operandi of the World Trade Organization --including decision-making procedures, negotiating modalities, and dispute settlement. Much has already been done to improve the internal and external transparency of World Trade Organization processes. Some proposals for structural reform ignore incentive constraints and the fact that the World Trade Organization is an incomplete contract that must be self-enforcing. Others -- such as calls for a "critical mass" approach to negotiations --can already be pursued (and have been). The agenda for international cooperation increasingly revolves around "behind-the-border" regulatory externalities that do not necessarily lend themselves to binding commitments in a trade agreement. This suggests a focus on strengthening notification/surveillance and developing more effective mechanisms for dialogue on regulatory policies that may create negative spillovers.

Keywords: Economic Theory & Research, Trade Law, World Trade Organization, Trade and Services, Free Trade

Suggested Citation

Hoekman, Bernard, Proposals for WTO Reform: A Synthesis and Assessment (January 1, 2011). World Bank Policy Research Working Paper No. 5525, Available at SSRN: https://ssrn.com/abstract=1747428

Bernard Hoekman (Contact Author)

European University Institute - Robert Schuman Centre for Advanced Studies (RSCAS) ( email )

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