The Oxford Handbook of International Commercial Policy

Hardcover | June 1, 2012

EditorMordechai E. Kreinin, Michael G. Plummer

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As we enter the 2010s, the global economy is becoming increasingly integrated. International trade has been growing rapidly, an ostensibly irresistible trend that was only temporarily disrupted by the 2008-09 global recession. Globalization has become associated with a country's economicsuccess while failure to open up markets is often viewed as a cause of economic stagnation. This is predicted by economic theory and verified by empirical investigations. One reason for the growth of trade is the impressive reduction of trade barriers over the past 60 years; namely the pursuit ofliberal commercial policy by many countries, led by the United States. Yet, particularly with the economic malaise that has persisted since the Great Recession, the role of commercial policy has become increasingly controversial in the media and other public fora. The relationship between trade and employment, as well as the implications of trade for incomedistribution, are examples of profound influences on national economies that have provoked intensive debate in the public realm. These domestic effects go a long way towards explaining the widespread backlash against globalization that we have observed in recent years. This volume of contributions from some of the best-known international trade economists explores and analyzes the various aspects of commercial policy - theoretical, empirical, and institutional - in a way that standard texts in international economics do not. It does this via two sets of chapters:the first part covers general approaches to commercial policy, including theoretical, institutional, historical, and empirical contributions. Topics addressed include a general analysis of free trade compared to its alternatives, the future of the international trading system (including theregional trade agreement zeitgeist), trade's effects on employment, and the "special" case of agriculture. The second part is comprised of country-specific and regional applications, including case studies of key players in the international trading system (United States, the European Union, andJapan); small, open markets (Australia and Israel); large emerging markets (China and India); and a South-South regional grouping (the Association of Southeast Asian Nations).

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As we enter the 2010s, the global economy is becoming increasingly integrated. International trade has been growing rapidly, an ostensibly irresistible trend that was only temporarily disrupted by the 2008-09 global recession. Globalization has become associated with a country's economicsuccess while failure to open up markets is ofte...

Mordchai E. Kreinin is University Distinguished Professor of Economics at Michigan State University and past President of the International Trade and Finance Association. Michael G. Plummer is Head of the Development Division at the Organisation for Economic Co-operation and Development (OECD) and the Eni Professor of International E...

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Format:HardcoverDimensions:432 pages, 9.75 × 6.75 × 0.98 inPublished:June 1, 2012Publisher:Oxford University PressLanguage:English

The following ISBNs are associated with this title:

ISBN - 10:0195378040

ISBN - 13:9780195378047

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Table of Contents

Modechai E. Kreinin and Michael G. Plummer: Introduction and OverviewPART I: General Approaches to Commercial Policy1. Sven W. Arndt: Free Trade and Its Alternatives2. Rachel McCulloch: The International Trading System and Its Future3. Alfred E. Eckes Jr.: Administration of Commercial Policy4. Carl Davidson and Nicholas Sly: Trade and the Labor Market: Recent Development and New Frontiers5. Tim Josling: Protection of Agriculture6. Modechai Kreinin and Michael Plummer: Theory and Economic Modeling of Regional Trading Agreements7. Cristiane Carneiro and Gary Hufbauer: The Ruled-Based Trading SystemPART II: Country (Regional) Studies8. Robert E. Baldwin: U.S. Trade Policy Since 1934: An Uneven Path Toward Greater Trade Liberalization9. Patrick A. Messerlin: The European Community Commercial Policy10. Masahiro Kawai and Shujiro Urata: Japan's Commercial Policy11. Ganeshan Wignaraja: Commercial Policy and Experience in the Giants: China and India12. Peter Lloyd: Australian Commercial Policies13. Torbjorn Becker and Andreas Fredricksson: The European Transition Economics14. Michael Michaeli: Trade Liberalization in a Small Open Economy: The Case of Israel15. Hal Hill and Jay Menon: ASEAN Commercial Policy