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1、TheWorldTradeANNUALFurtherREVIEWSClickhereforquicklinkstoOrganization:TheoryandAnnualReviewscontentonline,including:Practice?Otherarticlesinthisvolume?Topcitedarticles?Topdownloadedarticles?OurcomprehensivesearchKyleBagwellandRobertW.StaigerDepartmentofEconom
2、ics,StanfordUniversity,Stanford,California94305,andNBER;email:kbagwell@stanford.edu,rstaiger@stanford.edubyUniversityofTexas-Austinon01/13/13.Forpersonaluseonly.Annu.Rev.Econ.2010.2:223–56KeyWordsAnnu.Rev.Econ.2010.2:223-256.Downloadedfromwww.annualreviews.or
3、gFirstpublishedonlineasaReviewinAdvanceonWTO,GATT,tradeagreements,terms-of-tradetheoryMarch8,2010TheAnnualReviewofEconomicsisonlineatAbstractecon.annualreviews.orgWeconsiderthepurposeanddesignoftheWorldTradeOrganiza-Thisarticle’sdoi:tion(WTO)anditspredecessor
4、,theGeneralAgreementonTariffs10.1146/annurev.economics.102308.124500andTrade(GATT),andreviewrecentdevelopmentsintherelevantCopyright?2010byAnnualReviews.theoreticalandempiricalliterature.WedescribetheGATT/WTOAllrightsreservedarchitectureandbrieflytraceitshist
5、oricalantecedents.Wesuggest1941-1383/10/0904-0223$20.00thattheexistingliteratureprovidesausefulframeworkforunder-standingandinterpretingcentralfeaturesofthedesignandpracticeoftheGATT/WTO,andweidentifykeyunresolvedissues.2231.INTRODUCTIONAsasubjectforstudybyec
6、onomists,theWorldTradeOrganization(WTO)anditspredecessor,theGeneralAgreementonTariffsandTrade(GATT),exhibitanumberof1interestingandattractivefeatures.First,theGATT/WTOiswidelyacknowledgedtobeoneofthemostsuccessfulinternationalinstitutionsevercreated:Onthisbas
7、isaloneitisimportanttounderstandthereasonsforitssuccess.Second,althoughitisamultilateralinstitution,theGATT/WTOhasadoptedabilateralapproachtomultilateralbargaining,accordingtowhichreciprocalnegotiations(overtariffs)occuronavoluntarybasisthroughtimebetweenpair
8、sofcountriesoramongsmallnumbersofcountries,withtheresultsofthesebilateralnegotiationsthenmultilateralizedtothefullGATT/WTOmem-bershipbyanondiscriminationrequirementthattariffsabidebythemo
