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.
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