Does the WTO leave appropriate policy space to its Members to pursue legitimate objectives, such as the economic development of developing countries, the conversion to a greener economy, or recovery in times of a global economic downturn? This legal and normative analysis of the WTO rules on subsidies and countervailing measures sheds light on why governments resort to subsidization and, by tracing the historical origins of the SCM Agreement and the Agreement on Agriculture, on why they have been willing to gradually confine their policy space. This sets the stage for a systematic and comprehensive legal analysis of both agreements, which integrates the vast amount of case law and proposals tabled in the Doha round. A separate case study explores the complex rules on export credit support, and the book closes with an in-depth normative assessment of these WTO rules on subsidies and countervailing measures.
• Clear and comprehensive overview of WTO disciplines on industrial and agricultural subsidies integrates complex WTO case law and will appeal to those looking for an accessible introduction to the SCM Agreement and Agreement on Agriculture • Normative evaluation of WTO rules on subsidies is accessible to non-economists and will be relevant to those interested in the 'policy space' debate on whether the WTO rules overly confine Members' freedom to subsidise their national industries • In-depth case study on WTO disciplines on export credit support for industrial and agricultural products helps to shed light on the complex rules involved
Contents
General introduction; 1. Rationales for offering subsidies; Part I. Legal Disciplines on Subsidization and the Imposition of Countervailing Measures: 2. Historical overview; 3. Scope of the SCM Agreement; 4. Disciplines on subsidies; 5. Remedies; 6. Differential treatment; Part II. Case Study: WTO Disciplines on Export Credit Support: 7. Export credit support; 8. Rationale for disciplining export credit support: historical context; 9. Main elements of the OECD Arrangement; 10. Disciplines on export credit support for non-agricultural products; 11. Disciplines on export credit support for agricultural products; 12. Export credit support in light of the GATS; 13. Negotiations on export credit support disciplines in the Doha round; 14. Conclusion: normative analysis of disciplines on export credit support; Part III. Normative Analysis of Disciplines on Subsidization and the Imposition of Countervailing Measures: 15. The scope of the SCM Agreement: specific subsidies; 16. Disciplines on subsidization by developed countries; 17. Disciplines on subsidization by developing countries; 18. Disciplines on countervailing measures; 19. Disciplines on subsidies in light of policy responses to the economic crisis; Overall conclusion.
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