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Preferential trade agreements (PTAs) have increased dramatically in the past several decades and play an important role in the global economy. Dispute settlement mechanisms (DSMs) in these international agreements significantly influence their functioning. In this article, the authors seek to understand what factors determine the legal arrangements of these mechanisms. The authors argue that the confluence of domestic political regime type, emulation incentives, and the development of the multilateral trade regime determines their legal dimension. Using a data set of PTAs between 1957 and 2008, the authors show that (1) democracies are more likely than autocracies to prefer moderately strict DSMs, (2) trading partners increasingly emulate each other by adopting similar legal templates, and (3) the recent trend against legalistic mechanisms is largely driven by the development of the multilateral trade regime. Their findings have important implications for the design of international institutions by highlighting the importance of member-specific as well as macro-level factors.

The purpose of this study was to examine the dynamics of trade between India and the BRICS countries as well as to gauge the relative strength of Indian exports to those nations. The trade integration patterns among BRICS countries were also analyzed. To quantify the extent to which India’s exports correspond to the needs of its BRICS counterparts, a novel export aspiration index was constructed. The index of trade integration patterns has also been employed to quantify India’s trade integration pattern with other BRICS members. Further, the gravity model of trade has been employed to analyze the fundamentals of India–BRICS trade. The export aspiration in individual BRICS countries shows a diverse pattern. However, India’s export aspiration in these countries has improved, although marginally in the long run. Such empirical evidence substantiates that the relative strength of India’s exports within its BRICS counterparts has marginally improved over time. Moreover, the trade integration index indicates a similar trade integration pattern among the BRICS countries and corroborates the presence of interindustry trade. Added to the conventional variables of the gravity model, India’s outward multilateral trade resistance and BRICS inward multilateral trade resistance significantly promote India–BRICS trade. Hence, the relative strength of Indian exports will increase substantially if India’s commodity composition is diversified by including more commodities in its export baskets that correspond to the needs and changing conditions of the BRICS economies.

New horizons are opening for Africa, with a growing number of Chinese andIndian businesses fostering its integration into advanced markets. However,significant imbalances will have to be addressed on both sides of the equation to support long-term growth.

The research is about a new wave of tariff increases by the US and the conflict of that move in relation to WTO rules and principles. The purpose of the research is to obtain current and new data and information on the changes that the raising of tariffs produced on the international level, especially within the framework of the WTO. The research was approached primarily through document content analysis, data analysis and discourse analysis. Primary and secondary sources were used. The findings of the study show that the sudden change in US tariffs had an impact on the multilateral trading system and on the organization dealing with the regulation of trade rules - the WTO. The WTO had already begun negotiations on reform and modernization, and this new wave of tariffs brought additional uncertainty to all spheres of WTO work. Current and future negotiations are uncertain, and additional research is needed that will point out in detail every aspect of work and problems in the work of the WTO.

How large are optimal tariffs? What tariffs would prevail in a world-wide trade war? How costly would a breakdown of international trade policy cooperation be? And what is the scope for future multilateral trade negotiations? I address these and other questions using a unified framework which nests traditional, new trade, and political economy motives for protection. I find that optimal tariffs average 62 percent, world trade war tariffs average 63 percent, the government welfare losses from a breakdown of international trade policy cooperation average 2.9 percent, and the possible government welfare gains from future multilateral trade negotiations average 0.5 percent.

This paper assesses the effects of reducing tariffs under the Doha Round on market access for developing countries. It shows that for many developing countries, actual preferential access is less generous than it appears because of low product coverage or complex rules of origin. Thus lowering tariffs under the multilateral system is likely to lead to a net increase in market access for many developing countries, with gains in market access offsetting losses from preference erosion. Furthermore, comparing various tariff-cutting proposals, the research shows that the largest gains in market access are generated by higher tariff cuts in agriculture.

This paper studies the potential for the export sector to play a more important role in promoting growth in Central America, Panama, and the Dominican Republic (CAPDR) through deeper intra-regional and global trade integration. CAPDR countries have enacted many free trade agreements and other regional integration initiatives in recent years, but this paper finds that their exports remain below the norm for countries of their size. Several indexes of outward orientation are constructed and suggest that the breadth of geographic trading relationships, depth of integration into global production chains, and degree of technological sophistication of exports in CAPDR are less conducive to higher exports and growth than in fast-growing, export-oriented economies. To boost exports and growth, CAPDR should implement policies to facilitate economic integration, particularly building a customs union, harmonizing trade rules, improving logistics and infrastructure, and enhancing regional cordination.