Trade and Economic Effects of IRC: Further Empirical Evidence from SPS and TBT Provisions
Cutting trade costs, especially those stemming from non-tariff measures, is a growing priority for policy makers. One way to achieve this is for countries to improve their co-operation on regulatory matters. An avenue open to governments is to include provisions related to international regulatory c...
Gespeichert in:
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| Weitere Verfasser: | , |
| Format: | Elektronisch E-Book |
| Sprache: | English |
| Veröffentlicht: |
Paris
OECD Publishing
2019
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| Schriftenreihe: | OECD Trade Policy Papers
no.224 |
| Schlagworte: | |
| Online-Zugang: | Volltext |
| Zusammenfassung: | Cutting trade costs, especially those stemming from non-tariff measures, is a growing priority for policy makers. One way to achieve this is for countries to improve their co-operation on regulatory matters. An avenue open to governments is to include provisions related to international regulatory co-operation (IRC) into preferential trade agreements (PTAs). However, there exists little empirical evidence of the benefits of these co-operative mechanisms. This paper provides this evidence, in the context of Sanitary and Phytosanitary (SPS) and Technical Barriers to Trade (TBT) provisions. It measures the effect of IRC mechanisms on trade flows using the latest developments in the gravity literature and the most recent data sources. The work distinguishes between different forms of co-operation implemented between countries within PTAs while also accounting for the level of commitment between partners. The estimation results suggest that PTAs including SPS and TBT measures have a significant and positive effect on trade flows, with the legal enforceability of IRC mechanisms having the strongest and most robust impact on trade flows. This result holds even when WTO-related provisions and dispute settlement procedures are controlled for, implying that binding commitments are important in maximizing post-PTA trade flows. The work shows that transparency and co-operation are significant and robust factors in increasing trade. It also reinforces the view that the impact takes some time to materialise, which is important when evaluating the effectiveness of deep IRC mechanisms. |
| Beschreibung: | 1 Online-Ressource (34 p.) |
| DOI: | 10.1787/8648b6ca-en |
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| 520 | |a Cutting trade costs, especially those stemming from non-tariff measures, is a growing priority for policy makers. One way to achieve this is for countries to improve their co-operation on regulatory matters. An avenue open to governments is to include provisions related to international regulatory co-operation (IRC) into preferential trade agreements (PTAs). However, there exists little empirical evidence of the benefits of these co-operative mechanisms. This paper provides this evidence, in the context of Sanitary and Phytosanitary (SPS) and Technical Barriers to Trade (TBT) provisions. It measures the effect of IRC mechanisms on trade flows using the latest developments in the gravity literature and the most recent data sources. The work distinguishes between different forms of co-operation implemented between countries within PTAs while also accounting for the level of commitment between partners. The estimation results suggest that PTAs including SPS and TBT measures have a significant and positive effect on trade flows, with the legal enforceability of IRC mechanisms having the strongest and most robust impact on trade flows. This result holds even when WTO-related provisions and dispute settlement procedures are controlled for, implying that binding commitments are important in maximizing post-PTA trade flows. The work shows that transparency and co-operation are significant and robust factors in increasing trade. It also reinforces the view that the impact takes some time to materialise, which is important when evaluating the effectiveness of deep IRC mechanisms. | ||
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| spelling | Disdier, Anne-Célia VerfasserIn aut Trade and Economic Effects of IRC Further Empirical Evidence from SPS and TBT Provisions Anne-Célia, Disdier, Susan F., Stone and Frank, van Tongeren Paris OECD Publishing 2019 1 Online-Ressource (34 p.) Text txt rdacontent Computermedien c rdamedia Online-Ressource cr rdacarrier OECD Trade Policy Papers no.224 Cutting trade costs, especially those stemming from non-tariff measures, is a growing priority for policy makers. One way to achieve this is for countries to improve their co-operation on regulatory matters. An avenue open to governments is to include provisions related to international regulatory co-operation (IRC) into preferential trade agreements (PTAs). However, there exists little empirical evidence of the benefits of these co-operative mechanisms. This paper provides this evidence, in the context of Sanitary and Phytosanitary (SPS) and Technical Barriers to Trade (TBT) provisions. It measures the effect of IRC mechanisms on trade flows using the latest developments in the gravity literature and the most recent data sources. The work distinguishes between different forms of co-operation implemented between countries within PTAs while also accounting for the level of commitment between partners. The estimation results suggest that PTAs including SPS and TBT measures have a significant and positive effect on trade flows, with the legal enforceability of IRC mechanisms having the strongest and most robust impact on trade flows. This result holds even when WTO-related provisions and dispute settlement procedures are controlled for, implying that binding commitments are important in maximizing post-PTA trade flows. The work shows that transparency and co-operation are significant and robust factors in increasing trade. It also reinforces the view that the impact takes some time to materialise, which is important when evaluating the effectiveness of deep IRC mechanisms. Trade Stone, Susan F... MitwirkendeR ctb van Tongeren, Frank MitwirkendeR ctb FWS01 ZDB-13-SOC FWS_PDA_SOC https://doi.org/10.1787/8648b6ca-en Volltext |
| spellingShingle | Disdier, Anne-Célia Trade and Economic Effects of IRC Further Empirical Evidence from SPS and TBT Provisions Trade |
| title | Trade and Economic Effects of IRC Further Empirical Evidence from SPS and TBT Provisions |
| title_auth | Trade and Economic Effects of IRC Further Empirical Evidence from SPS and TBT Provisions |
| title_exact_search | Trade and Economic Effects of IRC Further Empirical Evidence from SPS and TBT Provisions |
| title_full | Trade and Economic Effects of IRC Further Empirical Evidence from SPS and TBT Provisions Anne-Célia, Disdier, Susan F., Stone and Frank, van Tongeren |
| title_fullStr | Trade and Economic Effects of IRC Further Empirical Evidence from SPS and TBT Provisions Anne-Célia, Disdier, Susan F., Stone and Frank, van Tongeren |
| title_full_unstemmed | Trade and Economic Effects of IRC Further Empirical Evidence from SPS and TBT Provisions Anne-Célia, Disdier, Susan F., Stone and Frank, van Tongeren |
| title_short | Trade and Economic Effects of IRC |
| title_sort | trade and economic effects of irc further empirical evidence from sps and tbt provisions |
| title_sub | Further Empirical Evidence from SPS and TBT Provisions |
| topic | Trade |
| topic_facet | Trade |
| url | https://doi.org/10.1787/8648b6ca-en |
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