Figure 5.11 Increase in the Capital Stock in the Short Run Feenstra and Taylor: International Economics, First Edition Copyright © 2008 by Worth Publishers

Figure 5.12 The Effect of an Increase in Capital Stock on the Rental on Capital Feenstra and Taylor: International Economics, First Edition Copyright © 2008 by Worth Publishers

Figure 5.13 Increase in the Capital Stock in the Long Run Feenstra and Taylor: International Economics, First Edition Copyright © 2008 by Worth Publishers

Figure 5.15 World Capital Market Feenstra and Taylor: International Economics, First Edition Copyright © 2008 by Worth Publishers

WTO GATT: General Agreement on Tariffs and Trade - Agriculture; Market access for goods; Sanitary and phytosanitary measures; Subsidies and countervailing measure; Anti-dumping; Customs valuation; Rules of origin; Import licensing; Investment; Safeguards; State trading enterprises (working group); Information technology agreement - MFN - National Treatment TRIPS: Trade Related Aspects of Intellectual Property Rights GATS: General Agreement on Trade in Services

TRIPS World Intellectual Property Organization (WIPO) Paris Convention for the Protection of Industrial Property (patents, industrial designs, etc) Berne Convention for the Protection of Literary and Artistic Works (copyright). Economic motivation: internalize externalities Transitions (1,5,11); until 2016 for LLDCs

GATS E.g., electronic banking, tele-health or tele-education services, voice telephony and postal services, and transport. All services except “services supplied in the exercise of governmental authority” and Air Transport Four Modes: Cross-border supply; Consumption abroad; Commercial Presence; Presence of natural persons

TRIMs 1/3 of the $6.1 trillion 1995 world trade in goods & services was w/in companies Investors’ right to use imported goods as inputs shouldn’t depend on export performance. Close relationship to GATS, since mode of delivery often requires facilities in host country.