Dr. Michael Ferrantino
Lead Economist, International Trade Department, The World Bank
"Assessing the Effects of Non-Tariff Measures "
Interest in quantifying the trade effects of NTMs and trade liberalization has continued to mount. This interest has been driven secularly by the gradual decline in import duties and more recently by the prominent role that NTMs have taken in recent negotiations over large economic partnerships (e.g. TPP, TTIP). While a substantial amount of understanding of NTMs has been achieved at the micro level over the last twenty-odd years, useful measures for summarizing and comparing the performance of different countries and sectors have remained elusive despite extensive efforts by practitioners of empirical trade economics. Moreover, the fact that NTMs are often intended to serve legitimate domestic purposes and may even be trade-promoting in some cases raises further issues. This talk will discuss the current state of play of empirical work on NTMs, and discuss briefly the type of regulatory analysis which may be helpful in a practical reform context.