The Regulation of Subsidies Affecting International Trade
Schwartz, Warren F. & Harper Jr., Eugene W.
Abstract
We will begin by examining the basic contours of the present GATT regulation of subsidies. We will then consider the theory of comparative advantage underlying the GATT regime and introduce the complications of externalities and the governmental process designed to take account of them. Finally, we will make some tentative suggestions for changes in rules and institutions that might serve to improve the present state of affairs.