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dc.contributor.authorHOEKMAN, Bernard M.
dc.contributor.authorNELSON, Douglas R.
dc.date.accessioned2018-12-06T13:56:08Z
dc.date.available2018-12-06T13:56:08Z
dc.date.issued2018
dc.identifier.citationAnnual review of resource economics, 2018, Vol. 10, pp. 161-183
dc.identifier.isbn9780824347109
dc.identifier.issn1941-1340
dc.identifier.urihttps://hdl.handle.net/1814/60042
dc.descriptionFirst published: 04 May 2018en
dc.description.abstractThe post-Second World War liberal trade order has been a driver of global economic growth and rising average per capita incomes. This order confronts increasing opposition, reflecting concerns about adjustment costs and distributional effects of globalization and the ability to pursue national policy goals. At the same time, the development of complex production relations distributed across many countries calls for cooperation on a variety of regulatory policies. Contrary to what is argued by opponents of globalization, this does not imply one-size-fits-all rules that constitute a threat to national sovereignty and democratic legitimation. There remains an important traditional integration agenda that centers on rule making by major trading powers on policies that generate negative international spillovers. But the core challenge for the political economy of twenty-first-century trade agreements is to support regulatory cooperation to better govern international production and address the nonpecuniary externalities associated with greater economic integration.
dc.language.isoen
dc.publisherAnnual Reviewsen
dc.relation.ispartofAnnual review of resource economics
dc.subjectTrade agreements
dc.subjectGlobalization
dc.subjectWTO
dc.subjectAdjustment costs
dc.subjectEconomic integration
dc.subjectPolitical economy
dc.subjectInternational-tradeen
dc.subjectPlurilateral agreementsen
dc.subjectServices tradeen
dc.subjectWorld-orderen
dc.subjectWTOen
dc.subjectInstitutionsen
dc.subjectImmigrationen
dc.subjectPolicyen
dc.subjectWagesen
dc.subjectFragmentationen
dc.titleTwenty-first-century trade agreements and the owl of Minerva
dc.typeArticleen
dc.identifier.doi10.1146/annurev-resource-100517-023057
dc.identifier.volume10
dc.identifier.startpage161
dc.identifier.endpage183
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