Committing to Grow: The Full Impact of WTO Accessions

Author: André Brotto, Adam Jakubik, Roberta Piermartini, and Fulvio Silvy

Volume/Issue: Volume 2024 Issue 207

Publication date: September 2024

ISBN: 9798400289910

$20.00

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Topics covered in this book

This title contains information about the following subjects. Click on a subject if you would like to see other titles with the same subjects.

Exports and Imports , General Agreement on Tariffs and Trade , WTO accession , structural reforms , trade and growth

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Summary

This paper studies the impact of the process of accession to the WTO on growth rates in a sample of 150 economies. Unlike GATT-era accessions, WTO accessions involve reforms that extend beyond conventional trade liberalization measures. Using information on the pace of negotiations and requests in the working party's meetings, we construct an index that tracks the progress of reforms in the pre-accession period. We estimate that economies that implemented reforms and made deeper commitments during their WTO accession negotiations grew on average 1.5 percentage points faster than they otherwise would have. These results are robust to instrumental variable estimation and falsification tests.