Preface

Section I: Issues in Trade and Protectionism

1. How Costly is Protectionism?

Robert C. Feenstra

2. Toughest on the Poor: Americas Flawed Tariff System

Edward Gresser

3. Steel Policy: the Good, the Bad, and the Ugly

Gary Clyde Hufbauer and Ben Goodrich

4. Americas Bittersweet Sugar Policy

Mark A. Groombridge

5. Using Sanctions to Fight Terrorism

Gary Clyde Hufbauer, Jeffery J. Schott, and Barbara Oegg

Section II: WTO, Trade Labor, and the Environment

6. The Doha Development Agenda

Anne McGuirk

7. Bridging Trade-Environment Divide

Daniel Esty

8. Labor Standards: Where do they belong on the International Trade Agenda?

Drusilla Brown

9. Borders beyond Control

Jagdish Bhagwati

10. Intellectual Property Rights and the WTO

Philip G. King

11. Reducing America's Dependence on Foreign Oil

Martin Feldstein

Section III: Trade and Development; NAFTA

12. The Global Governance of Trade as if Development Really Mattered

Dani Rodrik

13. Farm Fallicies that Hurt the Poor

Kevin Watkins

14. Economic Developments During NAFTA's First Decade

Joanna Moss

Section IV: Globalization

15. Trading in Illusions

Dani Rodrik

16. Five Wars of Globalization

Moisés Naím

17. Spreading the Wealth

David Dollar and Aart Kraay

18. The New Wave of Globalization and its Economic Effects

The World Bank

Section V: The Balance of Payments

19. What Drives Large Current Accounts Deficits?

Cletus Coughlin and Patricia Pollard

20. Does the US Have a Current Account Deficit Disorder?

William Poole

Section VI: Exchange Rates and Macroeconomic Policy

21. The Structure of Foreign Exchange Markets

Sam Cross

22. What Determines the Exchange Rate: Market Factors or Market Sentiment?

Gregory P. Hopper

23. Fixed versus Floating Exchange Rates

Peter Kenen

24. Exchange Rate Choices

Richard Cooper

25. Does the Exchange Rate Regime Matter for Inflation and Growth?

Atish R. Ghosh, Jonanthan Ostry, Anne-Marie Gulde, and Holger C. Wolf

26. Currency Boards

Sharmila K. King

27. Dollarization as Monetary Arrangement for Emerging Market Economies

Gaetano Antinolfi and Todd Keister

Section VII: The Euro

28. EMU at 1

Mark A. Wynne

29. The Creation of the Euro and the Role of the Dollar in International Markets

Patricia Pollard

30. European Labor Markets and EMU Challenges Ahead

Rüdiger Soltwedel, Dirk Dohse,andMichael T. Owyang

Section VIII: Financial Crises

31. A Case Study of Currency Crisis: The Russian Default of 1998

Abbigail J. ChiodoandMichael T. Owyang

32. Learning from Argentina's Crisis

Ramon Moreno

33. The Onset of the East Asian Financial Crisis

Steven Radelet and Jeffery Sachs

34. Argentina's Currency Crisis: Lessons for Asia

Mark Spiegel

35. Capital Controls and Emerging Markets

Ramon Moreno

Section IX: Restructuring the New World

36. Chapter 11 for Countries?

Richard Cooper

37. The International Lender of Last Resort

Jeffrey Sachs

38. Dirty Money

Miriam Wasserman