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Commercial policy variability, bindings, and market access |
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| Authors: | Joseph F. Francois Will Martin |
| Affiliation: | a Tinbergen Institute, Erasmus University Rotterdam, Burg. Oudlaan 50-H8-18, Rotterdam, 3000 DR Rotterdam The Netherlands b World Bank, 1818 H Street, N.W., Washington, DC 20433, USA c CEPR, 90-98 Goswell Road, London EC1V 7RR, UK |
| Abstract: | Protection unconstrained by rules often varies substantially over time. Rules-based disciplines, such as WTO tariff bindings and bindings on market access in services, constrain this variability. We examine the theoretical effects of such constraints on the expected cost of protection and offer a formalization of the concept of “market access”, emphasizing both the first and second moments of the distribution of protection. As an illustration, we provide a stylized examination of Uruguay Round bindings on wheat. |
| Keywords: | F13 F17 F10 |
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