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Committing to Grow: The Full Impact of WTO Accessions
Author:
André Brotto
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,
Adam Jakubik
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Roberta Piermartini
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Fulvio Silvy
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Series:
IMF Working Papers
Volume/Issue:
Volume 2024: Issue 207
Language:
English
Publication Date:
27 Sep 2024
DOI:
https://doi.org/10.5089/9798400289910.001
ISBN:
9798400289910
ISSN:
1018-5941
Pages:
46
Keywords:
WTO accession; structural reforms; trade and growth; commitment index; GATT-era accession; accession mode; accession effect; accession period; General Agreement on Tariffs and Trade; Estimation techniques; Tariffs; Trade barriers; Trade policy; Global
Legal-disclaimer:
IMF Working Papers describe research in progress by the author(s) and are published to elicit comments and to encourage debate. The views expressed in IMF Working Papers are those of the author(s) and do not necessarily represent the views of the IMF, its Executive Board, or IMF management.
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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.
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Cover IMF Working Papers
IMF Working Papers
ISSN:
1018-5941
Publisher:
International Monetary Fund