Abstract
Reciprocal bargaining among developed countries under GATT focuses on both an explicit and implicit bargain. Explicit bargains involve mutual reductions in real-side barriers (tariffs). The implicit bargain is that negotiating parties will maintain full convertibility of domestic currencies so that reductions in real-side trade barriers will have an effect on trade.
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© 1989 John Whalley
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Clarete, R.L., Whalley, J. (1989). Trade-Restricting Effects of Exchange Rate Regimes: Implications for Developed-Developing Country Trade Negotiations. In: Whalley, J. (eds) Developing Countries and the Global Trading System. Palgrave Macmillan, London. https://doi.org/10.1007/978-1-349-20417-5_4
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DOI: https://doi.org/10.1007/978-1-349-20417-5_4
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