Some Early Reflections on the Uruguay Round Agreement as Seen from the Viewpoint of a Developing Country

Selected WTO Rules and Some Implications for Fund Policy Advice

“…For instance, it is more difficult to grant compensatory export subsidies to countries where the currency is overvalued. This could increase the importance of active exchange rate policies, with potential balance of payment implications (see Rom (1994)).…”

“…The fact that the "escape clause" has not been frequently used recently ¿/ does not mean that countries are aware of the economic costs of protection, but rather that other contingent protection measures have been used for convenience reasons under the GATT, such as VERs, countervailing duties, and antidumping. The fact that safeguards involve compensation (or retaliation) is certainly important in this respect (see Rom (1994)).…”