The Future Monitoring Role of GATT in an International Arena of Non-Tariff Barriers: A Proposal from a Law and Economics Perspective

01 Jan 1989

The General Agreement on Tariffs and Trade (GATT) was implemented to provide uniform guidelines in the regulation of international trade. While the GATT is an agreement based on legal rules of construction and enforceability, the underlying impetus to its creation is economic in nature. This article examines the hindered effectiveness of the legal aspects of the GATT, and it provides insight into the economic theory that promotes this inefficiency.