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Transparency, one of the basic pillars and fundamental norms of a well-functioning trading system, is increasingly seen as an inevitable tool in the governance of international trade. Without transparency, trade agreements are just words on paper. Transparency allows economic actors and trading partners to see how rules are implanted, reformed and...
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In this article we estimate substitution elasticities for goods distinguished
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Citations
While subsidies are a useful economic policy tool, their misuse can lead to significant negative effects. To date, the World Trade Organization (WTO) is the only global body regulating trade, addressing subsidies within its agreements. This study aims to examine the global framework of subsidies under WTO rules and discuss the issue of international transparency. A systematic literature review was conducted using the PRISMA method (2020). The main findings indicate that current WTO disciplines are insufficient to effectively address subsidies, especially in a rapidly changing global context. The study underscores the necessity for updated regulations to stay ahead in managing challenges posed by economies like China. To enhance global economic welfare, it is crucial for the WTO to adopt more robust and adaptive subsidy regulations that can respond to the evolving economic landscape.
Cambridge Core - International Trade Law - Commitments and Flexibilities in the WTO Agreement on Subsidies and Countervailing Measures - by José Guilherme Moreno Caiado