The Challenge for International Institutions
- International Institutions and Global Governance series
Edited by John-ren Chen and David Sapsford
Chapter 7: WTO Membership: What Does it Do for Growth and Poverty?
David Sapsford, V.N. Balasubramanyam and Stephan Pfaffenzeller INTRODUCTION Surprisingly little, if indeed anything, is known about the economic beneﬁts that have accrued to countries as a result of their membership of the World Trade Organization (WTO hereafter), or indeed membership of its predecessor the General Agreement on Tariffs and Trade (GATT). This is especially surprising given the enthusiasm and vigour with which numerous countries, including Taiwan, have recently sought membership to either or both of these multilateral organizations. Our objective in this chapter is to shed some light upon the magnitude of the economic beneﬁts that actual and aspiring member countries might reasonably expect to receive as a consequence of their membership of the WTO. In order to achieve this objective we examine the historical evidence relating to the experiences of a sample of countries as a consequence of their earlier decision to participate in the system of multilateral tariff reduction through their participation in the GATT. Although our theme is concerned with the role of international institutions in the alleviation of poverty, this chapter directs its attention solely to the inﬂuence which membership exerts on economic growth performance, on the grounds that, if there is one thing that the wealth of available evidence tells us, it is that an improvement in growth performance is typically, if not invariably, a necessary (but by no means sufﬁcient) prerequisite for progress in alleviation of poverty. In short, the present chapter focuses on what may be thought of as...
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