NDLI: Preventing protectionism: International institutions and trade policy

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Preventing protectionism: International institutions and trade policy

Content Provider	Springer Nature Link
Author	Baccini, Leonardo Kim, Soo Yeon
Copyright Year	2012
Abstract	This paper examines the role of international institutions in preventing the rise of protectionism. We analyze states’ choices in trade policy during the current global economic crisis, a situation likely to exacerbate uncertainty in the conduct of commercial relations and to push countries toward “beggar-thy-neighbor” trade policies. The main argument of the paper is that the numerous international institutions present in the international system during the current economic crisis serve as conveyors of information and mechanisms of commitment and socialization. They mitigate the uncertainty problem that prevails in prisoner’s dilemma settings such as trade. Economic international organizations increase the flow of information about the preferences and behaviors of its members. Non-economic organizations also have a role to play as social environments that encourage cooperation. Specialized international institutions devoted to trade, such as the WTO and preferential trade agreements (PTAs), not only provide monitoring and enforcement functions but also lock in commitments to liberal trade through legal obligations that make defections costly. We test our argument using a dataset of trade policies during the current economic crisis and of membership in international organizations. The paper finds strong support for the role of international institutions as commitment and socialization mechanisms in preventing the rise of protectionism.
Starting Page	369
Ending Page	398
Page Count	30
File Format	PDF
ISSN	15597431
Journal	The Review of International Organizations
Volume Number	7
Issue Number	4
e-ISSN	1559744X
Language	English
Publisher	Springer US
Publisher Date	2012-02-05
Publisher Place	Boston
Access Restriction	One Nation One Subscription (ONOS)
Subject Keyword	Trade Protectionism International institutions Economic intergovernmental organizations WTO PTAs Economics general Political Science Social Sciences
Content Type	Text
Resource Type	Article
Subject	Political Science and International Relations Economics and Econometrics Organizational Behavior and Human Resource Management

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