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date: 14 May 2021

Abstract and Keywords

This chapter focuses on transparency in the context of trade policy. It begins by considering the issue of “policy transparency” and the implications of improved transparency on uncertainty. It then examines “regulatory transparency” as well as issues related to transparency in the context of free trade agreements. It also highlights the net effects of transparency on trade and income and introduces the concept of “conveyance,” which stresses the importance of “advocacy.” Next, it discusses the potential effects of greater transparency in regional trading arrangements. In spite of the inherent difficulties in quantifying transparency measures and estimating their economic effects, improvements in transparency appear to have the potential to increase trade and economic welfare significantly.

Keywords: advocacy, conveyance, free trade agreements, income, policy transparency, regulatory transparency, trade, trade policy, transparency, uncertainty

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