About the WTO

The WTO Trade Facilitation Agreement (TFA) has been predicted to bring about an expansion in trade flows and real income gains. To date there is still very limited empirical evidence on the actual post-implementation impact of the TFA. This paper provides an assessment combining econometric estimations from a structural gravity model with general equilibrium modelling results.

In this study we investigate three trade policy scenarios: i) the revival of multilateralism ii) plurilateral cooperation and iii) geopolitical rivalry. In the first scenario both tariffs and NTMs are reduced on a multilateral basis. In the second scenario varying groups of countries cooperate on specific topics such as E-commerce and services. In the last scenario two main blocks emerge: a Western block and an Eastern block. International cooperation breaks down between blocks leading to an increase in tariffs and NTMs with blocks of countries setting up their own set of rules. Our findings are based on simulations with the WTO Global trade Model which has a specific novel feature: the diffusion of ideas between countries as a by-product of trade.

“The WTO Analytical Index" is an article-by-article guide to the interpretation and application of the WTO agreements by WTO bodies. It covers the jurisprudence of the WTO Appellate Body panels and arbitrators as well as related decisions and other significant actions taken by other relevant WTO bodies. This publication report covers the Agriculture.

“The WTO Analytical Index" is an article-by-article guide to the interpretation and application of the WTO agreements by WTO bodies. It covers the jurisprudence of the WTO Appellate Body panels and arbitrators as well as related decisions and other significant actions taken by other relevant WTO bodies. This publication report covers the TRIMs.

“The WTO Analytical Index" is an article-by-article guide to the interpretation and application of the WTO agreements by WTO bodies. It covers the jurisprudence of the WTO Appellate Body panels and arbitrators as well as related decisions and other significant actions taken by other relevant WTO bodies. This publication report covers the International Dairy and Bovine Meat Agreements.

“The WTO Analytical Index" is an article-by-article guide to the interpretation and application of the WTO agreements by WTO bodies. It covers the jurisprudence of the WTO Appellate Body panels and arbitrators as well as related decisions and other significant actions taken by other relevant WTO bodies. This publication report covers the WTO Agreement.

“The WTO Analytical Index" is an article-by-article guide to the interpretation and application of the WTO agreements by WTO bodies. It covers the jurisprudence of the WTO Appellate Body panels and arbitrators as well as related decisions and other significant actions taken by other relevant WTO bodies. This publication report covers the Trade Facilitation.

“The WTO Analytical Index" is an article-by-article guide to the interpretation and application of the WTO agreements by WTO bodies. It covers the jurisprudence of the WTO Appellate Body panels and arbitrators as well as related decisions and other significant actions taken by other relevant WTO bodies. This publication report covers the Rules of origin.

“The WTO Analytical Index" is an article-by-article guide to the interpretation and application of the WTO agreements by WTO bodies. It covers the jurisprudence of the WTO Appellate Body panels and arbitrators as well as related decisions and other significant actions taken by other relevant WTO bodies. This publication report covers the AR Working Procedures.

In this paper we integrate the costs of trade finance in a computable general equilibrium (CGE) model to evaluate the trade and output effects of counterfactual policy experiments on costs of and access to trade finance. The costs of financing international trade consist of two components: the financial costs and the costs associated with the risk of goods not being delivered considering risk aversion of traders. These costs are determined for four ways to finance international trade (cash-in-advance trade loans letters of credit and exports financed with internal working capital). Trade finance costs are a weighted average of the costs under the four different ways of financing.