Long Run Implications of WTO Accession for Agriculture in China

Abstract

www.worldbank.org/agdistortions. The authors are grateful to Damiano Sandri for extremely competent econometric assistance, and for funding from World Bank Trust Funds provided by the Netherlands (BNPP) and the United Kingdom (DfID).Long Run Implications of WTO Accession for Agriculture in China In recent years, a standard approach to evaluating the welfare effects of trade agreements has been widely used. This approach begins by assessing the applied rate of protection in place before the agreement. It then examines the commitments made under the agreement—commitments such as tariff bindings made under WTO agreements, or commitments made under preferential arrangements. Where these commitments are below the initially applied rates—the most-favored-nation (MFN) tariffs in the case of WTO commitments, or the applied rates under regional arrangements—it is assumed the applied rates will be reduced to respect the commitments. After comparing the bound and applied tariffs at the finest possible level of product disaggregation, the tariffs are aggregated to the level needed for quantitative analysis. This approach seems a substantial improvement over the simpler approach widely

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