Abstract
This paper analyzes the motivation for subsidies and their economic effects through literature research, and then examines policy implications for subsidy analysis. International cooperation on subsidies should be made to correct market failures and provide essential public services while reducing the negative externalities of subsidies. To achieve this goal, governments and international organizations need to share information on subsidies, provide economic analysis of the effects of various subsidies and suggest alternatives, and strengthen global standards and legal measures against subsidies that distort overseas markets and cause the climate crisis. Broader cooperation between countries on subsidies should be made in the direction of enhancing transparency, openness and predictability of international trade.
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