Show Summary Details

Updated on 20 November 2017. The previous version of this content can be found here.
Page of

PRINTED FROM the OXFORD RESEARCH ENCYCLOPEDIA, INTERNATIONAL STUDIES (internationalstudies.oxfordre.com). (c) Oxford University Press USA, 2017. All Rights Reserved. Personal use only; commercial use is strictly prohibited (for details see Privacy Policy and Legal Notice).

date: 22 October 2018

Summary and Keywords

After World War II, a body of rules and institutions have emerged for the purpose of regulating global flows of goods and services. These are known as world trade law, classified under international economic law, an expanding body of transnational regulatory treaties and institutions. World trade law has evolved within the global trading system following the Second World War, beginning with the General Agreement on Tariffs and Trade (GATT), which came into force in 1948. The Most-Favored Nation and National Treatment principles are the most prominent principles that give world trade law its distinctive form. The World Trade Organization (WTO) provides a vast store of literature which covers the waterfront of legal and political issues that animate the global political economy of trade. The WTO’s predecessor, the GATT, has also contributed extensively to the growing body of literature on world trade law. The WTO’s inclusion of agreements on the liberalization of services, investment, and intellectual property have begun lively debates about the possible trajectories of governance in new issue areas, such as anti-dumping and intellectual property rights. In addition to the issues raised by the inclusion of many small economies in the institutions of global trade governance, the rise of world trade law has simultaneously highlighted the many areas of importance to national publics in developed economies where trade overlaps with social priorities.

Keywords: world trade law, international economic law, GATT, WTO, Most-Favored Nation principle, National Treatment principle, global political economy, global trade governance, world trading system

Access to the complete content on Oxford Research Encyclopedia of International Studies requires a subscription or purchase. Public users are able to search the site and view the abstracts and keywords for each book and chapter without a subscription. If you are a student or academic complete our librarian recommendation form to recommend the Oxford Research Encyclopedias to your librarians for an institutional free trial.

Please subscribe or login to access full text content.

If you have purchased a print title that contains an access token, please see the token for information about how to register your code.

For questions on access or troubleshooting, please check our FAQs, and if you can't find the answer there, please contact us.