Going Alone: The Case for Relaxed Reciprocity in Freeing Trade

Paperback | January 1, 2003

EditorJagdish N. Bhagwati

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Since the end of World War II, the freeing of trade has been most visible in reciprocal liberalization agreements negotiated under the General Agreement on Tariffs and Trade, or GATT, and through increasing bilateral and plurilateral agreements. There has also, however, been a significant, if less visible, unilateral freeing of trade by several nations.

This book, based on a research project directed by Jagdish Bhagwati, examines the experiences with such unilateral trade liberalization. Part 1 considers historical experiences, following Britain's unilateral embrace of free trade. Part 2 discusses recent examples, and Part 3 discusses unilateral liberalization in specific sectors. The substantive introduction provides a synthesis of the findings as well as theoretical support. It argues that although unilateral freeing of trade is generally less beneficial than reciprocity, it can trigger "sequential" reciprocity through example or by encouraging lobbies abroad to favor trade expansion.

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Since the end of World War II, the freeing of trade has been most visible in reciprocal liberalization agreements negotiated under the General Agreement on Tariffs and Trade, or GATT, and through increasing bilateral and plurilateral agreements. There has also, however, been a significant, if less visible, unilateral freeing of trade b...

Jagdish Bhagwati is University Professor at Columbia University and External Advisor to the Director General, World Trade Organization and Senior Fellow for International Economics with the Council on Foreign Relations. He was named Distinguished Fellow of the American Economic Association in 2003.

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Format:PaperbackDimensions:592 pages, 9 × 6 × 1.5 inPublished:January 1, 2003Publisher:The MIT PressLanguage:English

The following ISBNs are associated with this title:

ISBN - 10:0262513765

ISBN - 13:9780262513760

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This volume, which collects papers on the role and experiences of unilateral tariff reductions in the multilateral trading system, provides an extremely informative account of the history and the more recent country and industry experiences. Bhagwati is one of the world's most eloquent and knowledgeable experts on trade.