This volume provides a state of the art review of current thinking on the full range of trade policy issues, addressing the economic and political dimensions of international trade policy. The volume contains a systematic examination of: specific trade policy instruments (such as tariffs, non-tariff barriers and trade rules); sectoral concerns (in agriculture, manufacturing and services); trade linkages (to issues such as the environment and labour standards); and, systemic considerations (what role for the WTO?) The organising theme of the volume is that open markets for trade and investment yield large potential gains in human welfare as long as trade policy is conducted as an integral part of broader domestic economic management and regulatory reform, and as long as the particular challenges facing developing countries are effectively addressed. This 'case' is presented on the basis of rigorous analysis of first principles and of empirical experience among key trading nations. This...

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