Effects of GATT/WTO on Asia's Trade Performance

Abstract

Our review of the literature suggests that the effects of GATT/WTO are insignificant or relatively small for participants in general, but potentially very large for groups that make heavy use of it. Our empirical analysis suggests that these gains are disproportionately large for the Asia-Pacific countries—perhaps by reducing resistance to the rapid growth and change in trade patterns in the region. We also highlight a potentially important source of future gains through helping to restrain the costly growth of agricultural protection in rapidly-developing countries in the region.Asian trade growth, GATT commitments, WTO accession