Mattoo, AadityaHoekman, BernardMartin, Will2012-03-192012-03-192009-11-01https://hdl.handle.net/10986/4327The Doha Round must be concluded not because it will produce dramatic liberalization but because it will create greater security of market access. Its conclusion would strengthen, symbolically and substantively, the WTO s valuable role in restraining protectionism in the current downturn. What is on the table would constrain the scope for tariff protection in all goods, ban agricultural export subsidies in the industrial countries and sharply reduce the scope for distorting domestic support - by 70 per cent in the EU and 60 per cent in the US. Average farm tariffs that exporters face would fall to 12 per cent (from 14.5 per cent) and the tariffs on exports of manufactures to less than 2.5 per cent (from about 3 per cent). There are also environmental benefits to be captured, in particular disciplining the use of subsidies that encourage over-fishing and lowering tariffs on technologies that can help mitigate global warming. An agreement to facilitate trade by cutting red tape will further expand trade opportunities. Greater market access for the least-developed countries will result from the "duty free and quota free" proposal and their ability to take advantage of new opportunities will be enhanced by the Doha-related "aid for trade" initiative. Finally, concluding Doha would create space for multilateral cooperation on critical policy matters that lie outside the Doha Agenda, most urgently the trade policy implications of climate change mitigation.CC BY 3.0 IGOADVERSE CONSEQUENCESADVERSE IMPACTSAGGREGATE DEMANDAGRICULTURAL COMMODITIESAGRICULTURAL EXPORT SUBSIDIESAGRICULTURAL PRODUCTIONAGRICULTURAL PRODUCTSAGRICULTURAL SUBSIDIESAGRICULTURAL SUPPORTAGRICULTUREANTIDUMPINGANTIDUMPING ACTIONSANTIDUMPING DATABASEANTIDUMPING DUTYAPPARELAVERAGE TARIFFSBINDING CONSTRAINTBORDER PROTECTIONBUSINESS ENVIRONMENTCAPITAL FLOWSCAPITAL GOODSCARBON EMISSIONSCOMMODITYCOMMODITY PRICESCOMPARATIVE ADVANTAGECOMPETITIVENESSCONCESSIONSCONSUMERSCOST OF CAPITALCOST OF FINANCECRITICAL MASSCROP INSURANCEDEVELOPED COUNTRIESDEVELOPING COUNTRIESDEVELOPING COUNTRYDEVELOPING ECONOMIESDEVELOPMENT FINANCEDISPUTE SETTLEMENTDISPUTE SETTLEMENT MECHANISMDOMESTIC INDUSTRIESDOMESTIC MARKETSDOMESTIC PRICESDOMESTIC PRODUCERSDUMPINGECONOMIC CRISISECONOMIC DEVELOPMENTECONOMIC DOWNTURNECONOMIC JUSTIFICATIONECONOMIC ORDERECONOMIC POLICYECONOMIC SITUATIONELASTICITYENVIRONMENTAL BENEFITSENVIRONMENTAL EXTERNALITIESENVIRONMENTAL SUSTAINABILITYEXPANSIONARY POLICIESEXPORT GROWTHEXPORT INDUSTRIESEXPORT RESTRICTIONSEXPORT SUPPLYEXPORT TAXESEXPORTERSEXPORTSEXTERNAL FINANCINGEXTERNAL SHOCKSEXTERNALITIESFINANCIAL CRISESFINANCIAL CRISISFINANCIAL SECTORSFINANCIAL SERVICESFOOD PRICESFOREIGN DIRECT INVESTMENTFOREIGN EXCHANGEFOREIGN MARKETSFOREIGN SUPPLIERSFREE ACCESSFREE TRADEGDPGLOBAL CLIMATEGLOBAL ECONOMYGLOBAL EXPORTSGLOBAL TRADEGLOBALIZATIONGOVERNMENT EXPENDITURESIMPORT BARRIERSIMPORT COMPETITIONIMPORT RESTRICTIONSIMPORTSINCOMEINDUSTRIAL COUNTRIESINDUSTRIAL COUNTRYINFORMATION TECHNOLOGYINSTITUTIONAL INFRASTRUCTUREINTERNATIONAL PRICESINTERNATIONAL TRADEINVENTORIESINVESTMENT INCENTIVESJURISDICTIONLDCSLOW-INCOME COUNTRIESMARKET ACCESSMEASURE OF TRADEMIDDLE INCOME COUNTRIESMONETARY POLICYMULTILATERAL AGREEMENTMULTILATERAL DISCIPLINESMULTILATERAL NEGOTIATIONSMULTILATERAL RULESMULTILATERAL SYSTEMMULTILATERAL TRADEMULTILATERAL TRADE AGREEMENTSMULTILATERAL TRADE LIBERALIZATIONMULTILATERAL TRADE NEGOTIATIONMULTILATERAL TRADE NEGOTIATIONSMUTUAL RECOGNITIONMUTUAL RECOGNITION OF STANDARDSNATIONAL MARKETSNATURAL RESOURCESNEGATIVE SPILLOVERSNEW MARKETOIL PRICEOPEN MARKETSOPEN TRADE REGIMEOPENNESSPOLITICAL ECONOMYPREFERENTIAL ACCESSPREFERENTIAL AGREEMENTPREFERENTIAL AGREEMENTSPREFERENTIAL TRADEPREFERENTIAL TRADE AGREEMENTSPRICE VOLATILITYPRIVATE CAPITALPRIVATE CAPITAL FLOWSPROPERTY RIGHTSPROTECTIONISMPROTECTIONISTPROTECTIONIST MEASURESPROTECTIONIST PRESSURESQUANTITATIVE RESTRICTIONSRATES OF PROTECTIONREAL GDPREAL INCOMERECIPROCITYRED TAPEREFORM PROGRAMREGIONAL TRADEREGIONAL TRADE AGREEMENTSREGIONALISMREGULATORY ENVIRONMENTREGULATORY REGIMESREINVESTMENTRULES OF ORIGINSOCIAL COSTSPECIAL SAFEGUARDSUSTAINABLE GROWTHTARIFF BARRIERSTARIFF BINDINGSTARIFF CONCESSIONSTARIFF EQUIVALENTTARIFF ESCALATIONTARIFF PROTECTIONTARIFF RATESTARIFF REDUCTIONSTARIFF REVENUETAXTAX EXEMPTIONSTOTAL OUTPUTTOURISMTRACK RECORDTRADE AGREEMENTSTRADE BARRIERSTRADE COSTSTRADE DATATRADE EFFECTSTRADE EXPANSIONTRADE FACILITATIONTRADE FLOWSTRADE LIBERALIZATIONTRADE LIBERALIZATION PROCESSTRADE LOGISTICSTRADE NEGOTIATIONSTRADE POLICIESTRADE POLICYTRADE POLICY IMPLICATIONSTRADE PREFERENCESTRADE REFORMSTRADE REMEDIESTRADE RESTRICTIONSTRADE ROUNDSTRADE VOLUMESTRANSACTIONS COSTSTRANSPARENCYUNEMPLOYMENTUNEMPLOYMENT RATESUNILATERAL LIBERALIZATIONURUGUAY ROUNDVALUE ADDEDVOLATILITYWELFARE LOSSWORLD ECONOMYWORLD MARKETSWORLD PRICESWORLD TRADEWORLD TRADE ORGANIZATIONWORLD TRADING SYSTEMWTOWorld Bank10.1596/1813-9450-5135