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The Political Economy of Deep Integration

Author

Listed:
  • Giovanni Maggi

    (Department of Economics, Yale University, New Haven, Connecticut 06520, USA)

  • Ralph Ossa

    (Department of Economics, University of Zürich, 8001 Zürich, Switzerland)

Abstract

Modern trade agreements no longer emphasize basic trade liberalization but instead focus on international policy coordination in a much broader sense. In this review we introduce the emerging literature on the political economy of such deep integration agreements. We organize our discussion around three main points. First, the political conflict surrounding trade agreements is moving beyond the classic antagonism of exporter interests who gain from trade and import-competing interests who lose from trade. Second, there is a more intense popular backlash against deep integration agreements than there was against shallow integration agreements. Finally, the welfare economics of trade agreements has become more complex, in the sense that the goal of achieving freer trade is no longer sufficient as a guide to evaluating the efficiency of international agreements.

Suggested Citation

  • Giovanni Maggi & Ralph Ossa, 2021. "The Political Economy of Deep Integration," Annual Review of Economics, Annual Reviews, vol. 13(1), pages 19-38, August.
    • Handle: RePEc:anr:reveco:v:13:y:2021:p:19-38
    DOI: 10.1146/annurev-economics-121020-032425
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    Citations

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    Cited by:

    1. Kym Anderson, 2023. "Agriculture's globalization: Endowments, technologies, tastes and policies," Journal of Economic Surveys, Wiley Blackwell, vol. 37(4), pages 1314-1352, September.
    2. Nikita Lopatin & Beverly Mendoza & Joseph M. Westenberg, 2024. "Section 301 and politics: Analysis of tariff exclusions," Economics and Politics, Wiley Blackwell, vol. 36(1), pages 483-516, March.
    3. Hideo Konishi & Minoru Nakada & Akihisa Shibata, 2024. "Free trade agreements with environmental provisions between asymmetric countries: transfer of clean technology and enforcement," Environmental Economics and Policy Studies, Springer;Society for Environmental Economics and Policy Studies - SEEPS, vol. 26(1), pages 1-30, January.
    4. Kym Anderson, 2022. "Agriculture in a more uncertain global trade environment," Agricultural Economics, International Association of Agricultural Economists, vol. 53(4), pages 563-579, July.

    More about this item

    Keywords

    trade agreements; deep integration; political economy;
    All these keywords.

    JEL classification:

    • F13 - International Economics - - Trade - - - Trade Policy; International Trade Organizations
    • F15 - International Economics - - Trade - - - Economic Integration
    • F53 - International Economics - - International Relations, National Security, and International Political Economy - - - International Agreements and Observance; International Organizations
    • F55 - International Economics - - International Relations, National Security, and International Political Economy - - - International Institutional Arrangements

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