Efficiency, Equity, and Legitimacy: The Multilateral Trading System at the Millennium

Front Cover
Roger B. Porter
Brookings Institution Press, 2001 - Political Science - 444 pages
0 Reviews
The multilateral trading system stands at a crossroads. Despite its widely acknowledged contribution to global prosperity over the past half century, the movement toward further liberalization has increasingly been challenged. These essays by leading scholars and trade officials honor Raymond Vernon, one of the architects of the international economic institutions established following the Second World War. The book examines several key issues at the heart of the debate over the multilateral trading system. What are the global efficiency gains from further liberalization? How can efficiency gains be maximized while respecting legitimate claims to sovereignty? Is the trading system affording an equitable distribution of benefits between countries and among various groups within societies? Does civil society have a role in the trading system? What role should the World Trade Organization and its dispute settlement procedures play in resolving disputes and enhancing legitimacy?
 

What people are saying - Write a review

We haven't found any reviews in the usual places.

Selected pages

Contents

Efficiency Equity and Legitimacy The Global Trading System in the TwentyFirst Century
3
Dark Clouds over Geneva? The Troubled Prospects of the Multilateral Trading System
16
A Rough Map of Challenges to the Multilateral Trading System at the Millennium
34
After Seattle Free Trade and the WTO
50
A New Framework for Globalization
63
Efficiency
79
Assessing the Efficiency Gains from Further Liberalization
81
Comment
106
Comment
253
Comment
259
The Club Model of Multilateral Cooperation and Problems of Democratic Legitimacy
264
Comment
295
Comment
301
Are the Judicial Organs of the World Trade Organization Overburdened?
308
Comment
329
The Rule of Lawyers and the Ethos of Diplomats Reflections on WTO Dispute Settlement
334

Efficient Protection through WTO Rulemaking
114
Comment
142
Comment
148
Part Two Summary
151
Equity
157
Market Access for Developing Countries
159
Comment
174
Whos Afraid of Globalization? Domestic Adjustment in Europe and America
179
Comment
205
Comment
209
Fostering Equity through International Institutions
212
Part Three Summary
222
Legitimacy
225
Legitimacy and Global Governance Why Constitutionalizing the WTO Is a Step Too Far
227
Part Four Summary
351
Governance
359
World Trade Organization Institutional Design for Better Governance
361
Comment
381
Comment
387
Governance of the Global Trading System
392
Comment
408
Comment
414
Part Five Summary
419
General Summary
428
Contributors
431
Index
435
Copyright

Other editions - View all

Common terms and phrases

About the author (2001)

Roger B. Porter is IBM professor of business and government at Harvard University. Pierre Sauvé is head of the Trade Policy Linkages Division of the OECD Trade Directorate in Paris. Arvind Subramanian is deputy division chief of the African department of the International Monetary Fund. Americo Beviglia Zampetti is administrator, Directorate-General for Trade of the European Commission.

Bibliographic information