''For related uses, see
Rollback (disambiguation)''
In government and economic contexts, Rollback metaphorically denotes action to repeal, dismantle or otherwise diminish the effect of a law or regulation.
Trade legislation
The term was utilised by the
MAI Negotiating Group in the 1990s in the context of seeking to enforce legislative progress toward "
free trade
Free trade is a trade policy that does not restrict imports or exports. It can also be understood as the free market idea applied to international trade. In government, free trade is predominantly advocated by political parties that hold econo ...
". Rollback of
trade-protective measures was to be made compulsory under the agreement.
Rollback is the liberalisation process by which the reduction and eventual elimination of nonconforming measures to the MAI would take place. It is a dynamic element linked with standstill, which provides its starting point. Combined with standstill, it would produce a “ratchet effect
A ratchet effect is an instance of the restrained ability of human processes to be reversed once a specific thing has happened, analogous with the mechanical ratchet that holds the spring tight as a clock is wound up. It is related to the phenom ...
”, where any new liberalisation measures would be “locked in” so they could not be rescinded or nullified over time.Mechanisms for standstill, rollback and listing of country specific reservations
Page 3 of note by MAI Negotiating Group chairman, OECD, 15 February 1996
See also
*
Ratchet effect
A ratchet effect is an instance of the restrained ability of human processes to be reversed once a specific thing has happened, analogous with the mechanical ratchet that holds the spring tight as a clock is wound up. It is related to the phenom ...
*
Austerity Measures
Austerity is a set of political-economic policies that aim to reduce government budget deficits through spending cuts, tax increases, or a combination of both. There are three primary types of austerity measures: higher taxes to fund spend ...
References
Legislative legal terminology
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ar:المعقولية