Prospects for Liberalizing the International Trading System

31 Pages Posted: 6 Apr 2007 Last revised: 8 Aug 2010

See all articles by Anne O. Krueger

Anne O. Krueger

International Monetary Fund (IMF); Stanford University - Graduate School of Business; National Bureau of Economic Research (NBER)

Date Written: October 1987

Abstract

This paper analyzes the equilibrium degree of protection as the outcome of the interaction of demands for protection and the demand for a liberal international trading order. It then assesses the current balance. On one hand, the nature of technical progress, the institution of the Uruguay Round, the mounting costs of agricultural protections and the increasingly high costs of protection as the world economy integrates all conduce toward a more liberal trading order. Demands for protection will intensify to the extent that growth decelerates, that trade negotiators fail to find mechanism to deal with nontariff barriers and that the United States fails to assume this leadership role that was earlier taken.

Suggested Citation

Krueger, Anne O., Prospects for Liberalizing the International Trading System (October 1987). NBER Working Paper No. w2409, Available at SSRN: https://ssrn.com/abstract=977436

Anne O. Krueger (Contact Author)

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