Efficiency, Equity, and Legitimacy The Multilateral Trading System at the Millennium

by Porter, Roger B.; Sauve, Pierre; Subramanian, Arvind

• ISBN13: 9780815771623
• ISBN10: 0815771622
• Format: Hardcover
• Copyright: 2001-09-01
• Publisher: Brookings Institution Press

Summary

The multilateral trading system has come under increasing strain since the conclusion of the Uruguay Round and is at the center of fierce debates over governance in a globalizing world economy. This collection of essays addresses the core challenge facing multilateral trade diplomacy today: how best to address and reconcile the values of efficiency, equity and legitimacy. The volume is published in honor of Raymond Vernon, a leading figure in the postwar international economic architecture and one of the trading system's most distinguished scholars. Book jacket.

Table of Contents

Preface	ix
Raymond Vernon	xiii
Roger B. Porter
PART ONE Introduction and Overview
Efficiency, Equity, and Legitimacy: The Global Trading System in the Twenty-First Century	3	(13)
Roger B. Porter
Dark Clouds over Geneva? The Troubled Prospects of the Multilateral Trading System	16	(18)
Pierre Sauve
Arvind Subramanian
A Rough Map of Challenges to the Multilateral Trading System at the Millennium	34	(16)
Americao Beviglia Zampetti
After Seattle: Free Trade and the WTO	50	(13)
Jagdish Bhagwati
A New Framework for Globalization	63	(18)
Jefrey D. Sachs
PART TWO Efficiency
Assessing the Efficiency Gains from Further Liberalization	81	(33)
Jeffrey A. Frankel
Comment	106	(8)
L. Alan Winters
``Efficient Protection'' through WTO Rulemaking	114	(45)
Alan O. Sykes
Comment	142	(6)
David W. Leebron
Comments	148	(3)
Motoshige Itoch
Summary	151	(8)
F. M. Scherer
PART THREE Equity
Market Access for Developing Countries	159	(20)
Alan V. Deardoref
Comments	174	(5)
Craig Van Grasstek
Who's Afraid of Globalization? Domestic Adjustment in Europe and America	179	(33)
Andre Sapir
Comment	205	(4)
Richard N. Cooper
Comment	209	(3)
Dani Rodrick
Fostering Equity through International Institutions	212	(15)
David Dollar
Summary	222	(5)
Debora Spar
PART FOUR Legitimacy
Legitimacy and Global Governance: Why Constitutionalizing the WTO Is a Step Too Far	227	(37)
Robert Howse
Kalypso Nicolaidis
Comment	253	(6)
Steve Charnovitz
Comment	259	(5)
Gary N. Horlick
The Club Model of Multilateral Cooperation and Problems of Democratic Legitimacy	264	(44)
Robert O. Keohane
Joseph S. Nye
Comment	295	(6)
Robert E. Hudec
Comment	301	(7)
Daniel C. Esty
Are the Judicial Organs of the World Trade Organization Overburdened?	308	(26)
Frider Roessler
Comment	329	(5)
William J. Davey
The Rule of Lawyers and the Ethos of Diplomats: Reflections on WTO Dispute Settlement	334	(27)
J.H.H. Weiler
Summary	351	(10)
Joel P. Trachtman
PART FIVE Governance
World Trade Organization: Institutional Design for Better Governance	361	(31)
Sylvia Ostry
Comment	381	(6)
Rufus H. Yerxa
Comment	387	(5)
B. K. Zutshi
Governance of the Global Trading System	392	(39)
Robert D. Hormats
Comment	408	(6)
Pierre Jacquet
Comment	414	(5)
Geoff Raby
Summary	419	(9)
Gary C. Hufbauer
General Summary	428	(3)
Jonathan T. Fried
Contributors	431	(4)
Index	435