Regional Trade Agreements
| Autor: | Emanuel Ornelas, Caroline Freund |
|---|---|
| Jazyk: | angličtina |
| Rok vydání: | 2010 |
| Předmět: |
Commercial policy
Economics and Econometrics Liberalization Free Trade Trade Law Trade Policy Trade and Regional Integration Economic Theory&Research regionalism trade creation trade diversion external tariffs trade liberalization Trade Policy business.industry International economics International trade Special Interest Group jel:F13 Multilateralism regionalism trade creation trade diversion external tariffs trade liberalization Economic Integration F150 jel:F15 International Trade Organizations F130 Regionalism (international relations) Economics Trade barrier Trade diversion business Free trade |
| Popis: | This article reviews the theoretical and the empirical literature on regionalism. The formation of regional trade agreements has been, by far, the most popular form of reciprocal trade liberalization in the past 15 years. The discriminatory character of these agreements has raised three main concerns: that trade diversion would be rampant, because special interest groups would induce governments to form the most distortionary agreements; that broader external trade liberalization would stall or reverse; and that multilateralism could be undermined. Theoretically, all these concerns are legitimate, although there are also several theoretical arguments that oppose them. Empirically, neither widespread trade diversion nor stalled external liberalization has materialized, whereas the undermining of multilateralism has not been properly tested. There are also several aspects of regionalism that have received too little attention from researchers, but which are central to understanding its causes and consequences. |
| Databáze: | OpenAIRE |
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