The Effect of <scp>GATT</scp>/<scp>WTO</scp> on Export and Import Price Volatility

Cao, Vinh Thi Hong; Flach, Lisandra

doi:10.1111/twec.12228

Cited by 9 publications

(15 citation statements)

References 42 publications

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“…Besides the standard clusters by by i − j − k , clustering over time is crucial in the context of our paper. As shown for instance in Cao and Flach (), there is a negative dependence of the standard deviation of prices on WTO membership. Hence, without correction, the error term would likely be heteroskedastic.…”

Section: Data and Empirical Designmentioning

confidence: 81%

“…In contrast, territories and countries that joined the GATT by evoking Article XXVI:5(c) were not obliged to conduct far‐reaching, structural reforms and are thus arguably less open than other WTO members. Instead of an interaction term as in Cao and Flach (), we conduct a different exercise and code these countries as non‐members.…”

Section: Robustness Checksmentioning

confidence: 99%

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The impact of trade agreements on world export prices

Flach

Gräf

2019

Rev International Economics

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This paper uncovers new stylized facts on the relation between economic integration and world trade prices. Using free on board export price data for the universe of manufacturing products, we show that a country's membership in the WTO (World Trade Organization) or in a PTA (Preferential Trade Agreement) is associated with an increase in export prices of differentiated goods. For the WTO, this effect is captured by the countries that were subject to rigorous WTO accession procedures. We also exploit the importance of the depth of a PTA and of its different provisions. Whereas the effect of the depth per se is not significant, individual provisions evoke distinct effects on prices. In particular, we find that PTAs with provisions on investments are associated with higher export prices. The results are consistent with theoretical models that relate competition to the innovation behavior of firms.

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Section: Data and Empirical Designmentioning

confidence: 81%

Section: Robustness Checksmentioning

confidence: 99%

The impact of trade agreements on world export prices

Flach

Gräf

2019

Rev International Economics

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“…Besides the standard clusters by by i−j−k, clustering over time is crucial in the context of our paper. As shown for instance in Cao and Flach (2015), there is a negative dependence of the standard deviation of prices on WTO membership. Hence, without correction, the error term would likely be heteroskedastic.…”

Section: Empirical Designmentioning

confidence: 94%

“…26 In contrast, territories and countries that joined the GATT by evoking Article XXVI:5(c) were not obliged to conduct far-reaching, structural reforms and are thus arguably less open than other WTO members. Instead of an interaction term as in Cao and Flach (2015), we conduct a different exercise and code these countries as non-members.…”

Section: Official Versus Unofficial Membersmentioning

confidence: 99%

“…32 Newly independent territories could negotiate accession according to Article XXXIII. In contrast, Article XXVI:5(c) allowed territories that gained independence to become GATT members under conditions negotiated by their former colonizers and thus without the need to implement reforms (Cao & Flach, 2015). Tomz et al (2007) also distinguish three types of non-member participants: colonies, de facto members, and provisional members.…”

Section: A13 Gatt/wtomentioning

confidence: 99%

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The Impact of Trade Agreements on World Export Prices

Flach

Gräf²

2018

SSRN Journal

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Effect of the duration of membership in the GATT/WTO on human development in developed and developing countries

Gnangnon

2023

Empirica

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The present article has examined the effect of the duration of the membership in the General Agreement on Tariffs and Trade (GATT) and/or the World Trade Organization (WTO) (and not the mere membership in the GATT/WTO) on human development, considered as a measure of citizens' welfare. The theoretical hypothesis underpinning the analysis is that by fostering export product upgrading, the duration of the membership in the GATT/WTO would reduce economic growth volatility, and consequently promotes human development. The analysis has relied on a panel dataset of 148 developed and developing countries, over the period from 1990 to 2019. It has provided support for the theoretical hypothesis by showing that the membership duration fosters human development in countries that enjoy a high level of export product upgrading, measured through export product diversification, the quality of export products, and the level of economic complexity. Countries with low levels of export product upgrading experience no significant effect of the membership duration on the growth of human development. Interestingly, the membership duration is associated with a higher growth of human development regardless of countries' degree of economic growth volatility. However, the lower the level of economic growth volatility, the larger is the magnitude of the positive effect of the membership duration on the growth of human development. Finally, there exists an heterogenous effect of the membership duration on the growth rate of human development across countries in the full sample, reflecting the degree of stringency of countries' accession procedures to the GATT/WTO.

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The Effect of GATT/WTO on Export and Import Price Volatility

Cited by 9 publications

References 42 publications

The impact of trade agreements on world export prices

The impact of trade agreements on world export prices

The Impact of Trade Agreements on World Export Prices

Effect of the duration of membership in the GATT/WTO on human development in developed and developing countries

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