Discussion Paper Details

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Title: Which International Institutions Promote International Trade?

Author(s): Andrew K Rose

Publication Date: January 2003

Keyword(s): bilateral, emprircal, GATT, gravity, IMF, OECD, OEEC, panel and WTO

Programme Area(s): International Trade and Regional Economics

Abstract: This Paper estimates the effect on international trade of three multilateral organizations intended to increase trade: 1) the World Trade Organization (WTO) and its predecessor the Generalized Agreement on Tariffs and Trade (GATT); 2) the International Monetary Fund (IMF); and 3) the Organization for Economic Cooperation and Development (OECD). I use a standard ?gravity? model of bilateral merchandise trade and a large panel data set covering over 50 years and 175 countries. My results indicate that OECD membership (but neither GATT/WTO nor IMF membership) has had a consistently large positive effect on trade.

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Bibliographic Reference

Rose, A. 2003. 'Which International Institutions Promote International Trade?'. London, Centre for Economic Policy Research.