Trade Policy Flexibility Enforcement WTO Law Economics Analysis 1 9780521761208

Trade Policy Flexibility and Enforcement in the WTOA Law and Economics Analysis\nAuthor(s): Simon A. B. Schropp\nFormat: Hardback\nPublisher: Cambridge University Press, United Kingdom\nImprint: Cambridge University Press\nISBN-13: 9780521761208, 978-0521761208\nSynopsis\nThe World Trade Organization (WTO) is an incomplete contract among sovereign countries. Trade policy flexibility mechanisms are designed to deal with contractual gaps, which are the inevitable consequence of this contractual incompleteness. Trade policy flexibility mechanisms are backed up by enforcement instruments which allow for punishment of illegal extra-contractual conduct. This book offers a legal and economic analysis of contractual escape and punishment in the WTO. It assesses the interrelation between contractual incompleteness, trade policy flexibility mechanisms, contract enforcement, and WTO Members' willingness to co-operate and to commit to trade liberalization. It contributes to the body of WTO schol.