Committing to Grow: The Full Impact of WTO Accessions
IMF Working Papers, September 27, 2024
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- Committing to Grow: The Full Impact of WTO Accessions
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Bibliographic details
- Authors: André Brotto, Adam Jakubik, Roberta Piermartini, Fulvio Silvy
- Published: September 27, 2024
- Series: IMF Working Papers
- DOI: https://doi.org/10.5089/9798400289910.001
Study objective and scope
- Examines the impact of the process of accession to the WTO on growth rates in a sample of 150 economies.
- Emphasizes differences between WTO accessions and GATT-era accessions, noting that WTO accessions involve reforms that extend beyond conventional trade liberalization measures.
Methodology
- Constructs a commitment index that tracks the progress of reforms in the pre-accession period using information on the pace of negotiations and requests in the working party's meetings.
- Employs econometric analysis and estimation techniques to identify the effect of accession-related reforms on growth.
Key findings
- Economies that implemented reforms and made deeper commitments during their WTO accession negotiations grew on average 1.5 percentage points faster than they otherwise would have.
- WTO accessions involve reforms beyond conventional trade liberalization measures observed in GATT-era accessions.
Robustness and validation
- Results are robust to instrumental variable estimation.
- Results are robust to falsification tests.
Subject areas and keywords (as presented)
- Subject: Econometric analysis, Estimation techniques, General Agreement on Tariffs and Trade, International trade, Tariffs, Taxes, Trade barriers, Trade policy
- Keywords: accession effect, accession mode, accession period, commitment index, Estimation techniques, GATT-era accession, General Agreement on Tariffs and Trade, Global, structural reforms, Tariffs, trade and growth, Trade barriers, Trade policy, WTO accession
André Brotto, Adam Jakubik, Roberta Piermartini, and Fulvio Silvy. "Committing to Grow: The Full Impact of WTO Accessions", IMF Working Papers 2024, 207 (2024).
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- Working Paper