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The World Trade Organization is likely to be a major international organization for the foreseeable future. This volume, the first full-length study of the WTO and GATT from the viewpoint of public choice and political economy, details the mechanics of the multilateral trading system that emerged from the Uruguay Round of GATT. The authors, who were involved in the negotiations of the Uruguay Round, explain why WTO rules are phrased the way they are, the successes and failures of WTO and GATT, and how business, industrial associations and political lobbies influence the multilateral trading system.

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• Preface(p. vii)
• List of Abbreviations(p. xvi)
• Introduction(p. 1)
• Part I The Institution(p. 7)
• 1 Overview of the Trading System(p. 9)
• 2 The World Trade Organization(p. 36)
• 3 Negotiating Forum(p. 56)
• Part II The Multilateral Trade Agreements(p. 85)
• 4 Trade in Goods(p. 87)
• 5 Trade in Services(p. 127)
• 6 Intellectual Property(p. 144)
• Part III Holes and Loopholes(p. 159)
• 7 Safeguards(p. 161)
• 8 Sector-Specific Arrangements(p. 196)
• 9 Regional Integration(p. 213)
• Part IV Future Challenges and Opportunities(p. 233)
• 10 Developing Countries and the Wto(p. 235)
• 11 Future Challenges(p. 246)
• 12 Conclusion(p. 268)
• Annex 1(p. 275)
• Annex 2(p. 277)
• Annex 3(p. 278)
• Annex 4(p. 281)
• Annex 5(p. 284)
• Annex 6(p. 285)
• References(p. 286)
• Index(p. 295)

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CHOICE Review

A few years ago when teaching a class on GATT and the Uruguay Round, this reviewer discovered there were no books meeting the stated aim of this work--to provide an "accessible, yet comprehensive, introduction to the institutional mechanics, economics, and politics of the trading system." The authors succeed magnificently in filling that gap in the literature. The book weaves explanations of GATT principles with economic and political theory and historical and current information about GATT, GATS, Agreement on TRIPS, and the WTO. The authors describe the structure, purpose, accomplishments, and limitations of multilateral trade negotiations within the GATT system and ground their explanations solidly in economic and political theory while keeping the mathematics to a minimum. They accomplish this feat with an astonishing degree of rigor given that their explanations of the theory are almost exclusively intuitive. The authors eschew dogmatism and present a frank and realistic look at the GATT system. The final part of the book assesses future challenges facing the WTO. Candid and insightful, this book is by far the best road map available through the notoriously complex structure and terminology of our multilateral trading system. Thorough and detailed while remaining readable and concise, this volume belongs in every academic library. P. Lowry Illinois Wesleyan University