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The stakes of trade policy: domestic and global inequalities

Goff, Sarah C. (2018) The stakes of trade policy: domestic and global inequalities. Working Paper (22). International Inequalities Institute, London School of Economics and Political Science, London, UK.

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Abstract

Economic nationalism is on the rise, while decision-making is floundering within multilateral and regional trade institutions. As stakes ‘take back control’ over their trade policies, what does this imply for domestic and global inequalities? The paper will clarify how a state’s trade policy can affect what matters about domestic inequalities, global procedural fairness, and global distributional inequality. A state should aim to: i) pursue gains in national income, without making excessive contributions of its ‘policy space’ on issues that matter for disadvantaged groups; ii) refrain from abusing its unilateral decision-making power over its trading partners; and iii) prioritize trade liberalization with poor countries that have the competencies to take advantage of economic opportunities and that are likely to share the benefits of prosperity with disadvantaged citizens. There is room for a state’s trade policy to represent improvements over existing multilateral and regional institutions with respect to these aims, although improvements are by no means guaranteed.

Item Type: Monograph (Working Paper)
Official URL: http://www.lse.ac.uk/International-Inequalities
Additional Information: © 2018 The Author
Divisions: Government
Subjects: H Social Sciences > HN Social history and conditions. Social problems. Social reform
Date Deposited: 04 Oct 2019 14:36
Last Modified: 04 Oct 2019 23:26
URI: http://eprints.lse.ac.uk/id/eprint/101860

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